Form 5305-S for Moreno Valley California 2017-2024

Form 5305-S for Moreno Valley California: What You Should Know

The plan is approved for participation by the U.S. Department of Veterans Affairs (VA) pursuant to regulations administered by the Public Health Service, Office of the Secretary. The following information is applicable to the California-based regional offices and the Texas-based national offices. All locations are located in the San Diego, CA area. A. Eligibility Requirements Only full-time employees in a position that is compensated at a level equal to or exceeding 90 percent of the federal minimum wage and is a member of the uniformed services on or after January 1, 2014, will be eligible to participate in the match. If you are eligible, your employer must enroll employees in the match plan at the time of hiring. Employees may be selected for the matching program on the basis of employment, recruitment, promotion, transferal, retirement, medical leave or separation. However, once selected, an employee must retain that employment, promotion, transfer or retirement status even if that employment, promotion, transfer or retirement remains on another basis. It is your responsibility, based on the employee's job description, to notify your company or the Pre-Discharge Center to continue this status for the employee. B. Match Amount For each full-time employee who makes a contribution to the plan, it may be the equal amount to a predetermined dollar amount at the beginning of the plan year or some fixed and unspecified amount during that year determined by the match. If you are selected for the matching program and there is a contribution amount for the plan in effect for the current year, you may be required to pay a portion of the matching funds by the due date of your salary or wage statement, whichever is later. You may not pay the entire amount during the first year of the plan. For this reason, your employer may require that contributions for the year be made before January 20, or pay a portion to the employee before the due date of the employee's periodic pay statement. The employee should not pay anything at the time of initiation of the plan. It is recommended that you submit your paycheck in advance in order to have adequate time to pay the amount required for the year of the plan. You may be required to pay your entire match amount toward the employee's salary or wages up to the date of receipt of benefits under the plan.

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