As you select benefits for 2020, consider these options, which you can add to your lineup at little to no cost to you.
If you’re looking for ways to engage employees and add value to their workplace benefits program, the Board of Pensions offers a range of options that you can select at little to no cost to you.
Consider these options as you select benefits for 2020 and complete your Employer Agreement on Benefits Connect:
Dental coverage, for a wide range of services, includes preventive and diagnostic care, basic and major restorative care, and orthodontia. Benefits are administered by Aetna, and you may choose to pay all, some, or none of the cost for coverage.
Vision eyewear coverage, administered by VSP, helps with the cost of prescription eyewear by providing an annual allowance for glasses or contacts. You may choose to pay all, some, or none of the cost for coverage.
Dependent care flexible spending accounts, administered by Further, allow employees to set aside pretax dollars to pay for eligible child and elder care expenses. You may, but are not required to, contribute to employee dependent care FSAs.
Group term life coverage offers protection for employees not offered coverage through the Death and Disability Plan. Employees may not contribute to this coverage; you must pay for this low-cost benefit. Rates are competitive and not based on age, and there are no separate smoker rates. No evidence of insurability is required at any time.
Supplemental death benefits offer extra protection, for employees covered under the Death and Disability Plan or those with group term life coverage, at little to no cost. You decide whether to share in the cost of this benefit.
Retirement Savings Plan of the Presbyterian Church (U.S.A.) is a 403(b)(9) defined contribution plan that allows for tax-advantaged savings. The plan is administered by Fidelity Investments and features low annual fees for participants. You may, but are not required to, contribute to the plan.
Log on to Benefits Connect to complete your 2020 Employer Agreement by October 11. The benefits you select now will determine coverage that employees may elect during annual enrollment this fall.
Already submitted your agreement? If you decide you would like to add a new benefit or benefit group, you can still log on to Benefits Connect and make changes through October 11.
Learn more about selecting benefits for 2020. Need additional information or guidance selecting the best options for you and your employees? Call the Board of Pensions at 800-773-7752 (800-PRESPLAN).