Total Compensation Statements will be mailed in mid-September
When we think about what our jobs pay, the number that comes to mind is our hourly or annual salary. But thinking about compensation in that way leaves out some very significant numbers, including dollars paid on your behalf for health, dental and life insurance.
To provide you with a more complete picture of your actual compensation, the City will mail a Total Compensation Statement to each benefits-eligible City employee in mid-September. The statement you will receive in your mailbox later this month will be personalized to reflect the value of your actual benefit selections, including your 2013 health insurance selection and the amount that will be deposited in your health reimbursement (HRA/VEBA) accounts by the end of the year.
These personalized statements are sent before open enrollment begins to ensure that employees have a comprehensive picture of the value of their benefits. Open enrollment is the period when employees have the opportunity to make changes to their benefit selections. This year, open enrollment for 2014 benefits is set for Nov. 1 – 22, 2013.
Published Sep 4, 2013