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Stanford Report, October 1, 1997

Total Compenation - Short News Bits: 10/1/97

Short bits

Last Quarter to Spend Against Tax-Free Spending Accounts

For those who participate in the Health Care or Dependent Care Spending Accounts, there are only three months left for you to incur expenses for reimbursement. You should soon receive an annual statement from the administrator, BeneSphere, to let you know if you have a balance in an account. If you don't hear from BeneSphere in the next few days, it would be a good idea to give them a call and ask if you have a balance. Any contributions you make during the year that are not used by the end of the year will be forfeited. While qualified expenses must be incurred by December 31, you will have until April 30 of 1998 to file your claims.

Anticipating a Pregnancy Leave?

Pregnancy leave information meetings are held the last Friday of every month from noon to 1:00 in the Wisteria room at 655 (formerly 855) Serra. No reservations are necessary. The following questions will be addressed: How long is my leave? What happens to my pay? What happens to my benefits while I'm gone? How do I enroll my new child in benefits? What paper work do I need to complete?

PacifiCare Acquires FHP Health Care

FHP Health Care has been purchased by PacifiCare. Current FHP Health Care participants will automatically become enrolled with PacifiCare for medical benefits in 1998 if no change is indicated on Choice Line during November open enrollment. Be sure to review the PacifiCare benefits on your Benefits Comparison Chart, and check to see that the PacifiCare network of medical care providers includes your current medical practice group or clinic before you automatically continue with PacifiCare

New Retiree Plan Summary Plan Descriptions

Summary Plan Descriptions (SPDs) for Stanford's retirement plans are being updated this fall. The SPD for the Staff Retirement Annuity Plan (SRAP) has been completed and copies have been mailed to bargaining unit employees and those SRAP participants who did not change to the Stanford Contributory Retirement Plan (SCRP) last year. SPDs for the SCRP are being printed and will be mailed out soon to participants. SPDs for the Tax-Deferred Annuity (TDA) plan will be completed and mailed later in the year.

SCRP Has Expanded Hardship Withdrawal Qualifications

In the past, only medical hardship qualified participants to obtain a Hardship Withdrawal of funds from SCRP. This fall, Stanford was able to expand the Hardship Withdrawal qualifications to include all the options currently available to TDA participants. For more information on the new Hardship Withdrawal options, see the article in this issue of Stanford Report..