Inside Iowa State
Dec. 1, 1995



Benefits Office

Year End Odds 'n Ends

--Last month, employees received their annual personal 
statement of benefits and a survey asking if there should be 
changes in the statement. A preliminary review of the 
responses indicate a strong majority favor the statement as 
is. Most of those responding favored receiving the statement 
in November rather than March. Some favored July, August or 
September. These alternative months were considered but 
because of the academic schedule, it was decided that October 
is a more accurate payroll to use.

--The 1996 Flex 2 enrollments will be effective with the Jan. 
31 payroll. The first reimbursements for 1996 will be paid 
after Feb. 20. Mid-year changes to Flex 1 and Flex 2 are only 
allowed if there is a change in family status.

--Effective Jan. 1, 1996, employee-required contributions to 
the basic TIAA-CREF Retirement Program must be made on a tax-
deferred (pre-tax) basis. Approxi-mately 140 participants 
currently pay the tax. Their contributions will be converted 
to a tax-deferred basis. 

--The ISU annual review of the maximum contribution that may 
be tax deferred for TIAA-CREF basic and SRA accounts is under 
way and could affect the 1,100 employees contributing to 
these accounts. Another 350 employees who contribute to non-
TIAA-CREF accounts also could be affected. Individual 
employees contributing to TIAA-CREF accounts will be notified 
if a change in their contribution is required. Changes must 
be made by the last working day in December to affect the 
January 1996 payroll.
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University Relations
Iowa State University