Benefit Administration
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1)  Flexible Spending Account Administration

The VCSBSA offers this plan through SISC which meets the requirements of Section 125 of the Internal Revenue Service code. The offering of this plan provides an added service at no cost to our employees or the member districts. Under the plan, employees may pay for dependent care costs, put funds aside for unreimbursed medical expenses, and purchase term life and disability insurance with pre-tax dollars. New employees must enroll within 30 days of employment and existing employees are eligible to enroll during the open enrollment period each year (August 15-September 15) with an effective date of October 1.

  • Premium Only Plan

The plan allows pre-tax payroll deductions for amounts employees are required to contribute for their employer sponsored group health insurance. The deducted amount will automatically be adjusted to reflect any changes in the premium.

  • Medical Flexible Spending Account

The plan allows employees to redirect a portion of their salary, on a pre-tax basis for eligible non-reimbursed medical expenses. Each plan year, employees elect the dollar amount to be contributed to their flexible spending account based on estimated out-of-pocket medical expenses. Employees submit claim forms to be reimbursed for eligible medical expenses incurred during the plan year.

  • Dependent Care Flexible Spending Account

The plan allows employees to redirect a portion of their salary, on a pre-tax basis for employment related dependent care expenses. Each plan year, participating employees elect the amount to be contributed to their flexible spending account based on their estimated dependent care expenses. Employees submit claim forms to be reimbursed for qualifying dependent care expenses incurred during the plan year. Qualifying dependents include a participating employee tax dependents under thirteen, as well as incapacitated tax dependents age thirteen and over, who resides with the employee.

 

2)  403(b) and 457 Administration

The Authority has also teamed with Tax Deferred Services to offer optional deferred programs for employees of our member and associate agencies which meet the requirements of section 403(b) and 457 of the Internal Revenue Service code. Under these plans, employees can set aside certain amounts of money each pay period. The employee does not pay income tax on this amount until it is withdrawn. Interest earned on these funds is also not taxed until withdrawal. Certain withdrawal restrictions apply to each of the programs. We recommend that employees consult a qualified tax advisor for more complete information.

 

3)  Credit Union Accounts

The credit unions allow employees to conveniently save money through payroll deductions. Employees may borrow money from the credit unions, which may be paid through payroll deductions. You must apply in person at either credit union to become a member. After that, most changes to your deductions and direct deposit can be taken care of through the Payroll office. Below are the names, addresses and phone numbers of participating credit unions:

County Schools Federal Credit Union
http://www.csfcu.org
4591 Market Street
Ventura , CA 93003
805.644.4657 or 805.529.4195

Ventura County Federal Credit Union
http://www.vcfcu.org
Main Office
6026 Telephone Road
Ventura , CA 93006
805.339.4200 or 800.339.0496
(VCFCU also has branch offices in Camarillo, Simi Valley, Oxnard and Thousand Oaks)

 

4)  Health and Welfare Administration

The VCSBSA joined SISC (Self-Insured Schools of California) in an effort to pool our resources and provide our agencies with a more stable long term insurance solution.

SISC is one of the largest school focused health care purchasing pools in California and offers a wide range of health benefits. Our membership in SISC allows us to assemble benefit packages that will meet our budgetary needs while providing our employees with quality health care coverage.

The VCSBSA also has joined forces with Burnham Benefits. Burnham serves as our broker through SISC and acts as a liaison for plan administration, open enrollment, ACA compliance and a wide arrange of benefits not normally available without a broker.  For further information on Burnham Benefits and their offerings, please see below:

http://www.burnhambenefits.com/about/about-us

5)  Retirement Administration

Eligible employees of the VCSBSA are members of the California Public Employees' Retirement System. Cal-PERS manages pension benefits for more than 1.1 million California public employees, retirees, and families. CalPERS is a defined benefit retirement plan that provides benefits based on a formula which looks at the member's years of service, age, and highest compensation. In addition, benefits are provided for disability and death with payments going to survivors or beneficiaries of eligible members.

CalPERS provides individual counseling services and workshops for their members through their regional offices. To speak to a CalPERS representative, call toll free (877) 720-7377 for regional offices or (800) 352-2238 for the Sacramento office. Estimates of retirement benefits and general information may also be obtained through the CalPERS web site at www.calpers.ca.gov.

 

6)  Workers' Compensation Administration

The VCSBSA is a member of the Ventura County Schools Self-Funding Authority for purposes of providing our Workers' Compensation programs. We believe this is the most effective arrangement to assure both quality care to the injured worker, and control over school district funds. VCSSFA focuses on using managed care to treat the employee's injuries promptly and appropriately so the employee will be able to return to duty as soon as possible.