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Employee Educational Benefit (EEB) Program

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Employee Educational Benefit (EEB) Program - PowerPoint PPT Presentation


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Employee Educational Benefit (EEB) Program. EEB Background. Staff Council has been requesting enhanced benefits UTSA’s current program costs $285,000 / year

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Presentation Transcript
eeb background
EEB Background
  • Staff Council has been requesting enhanced benefits
  • UTSA’s current program costs $285,000 / year
  • Changing from a 127 Qualified Educational Assistance Plan to a 177(d) Qualified Tuition Reduction Plan will allow us to double the benefit to employees
why change
Why change?
  • Under the current IRS plan, UTSA is paying itself for employee participation.
  • Under the proposed plan, as an educational institution, UTSA may waive designated tuition and fees to employees.
  • Allows the benefit to be doubled
  • Change to coincide with Fall 2012 registration which begins April 1st
tax implications
Tax Implications
  • Undergraduate tuition & fees are not taxable at any amount of benefit.
  • For a graduate student taking 6 SCH during a tax (calendar) year, at a 20% tax rate, estimated liability is $332.
  • Total value of benefit = $1,660 - $332; employee ‘saves’ $1,328
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