In this issue:

• Holiday Schedule Information
• IRS Announces Pension Plan Limitations for 2013
• Employees Encouraged to Receive Documents Electronically
• Pay Date Calendars Posted Online

Stay Informed

Occasionally, the UNT System Business Service Center (BSC) will send updates to employees to announce a new program, changes to procedures, or reminders about deadlines. In order to stay up-to-date with news from the BSC, UNT System employees are encouraged subscribe to BSC Updates online at http://bsc.untsystem.edu/newsletter/subscriptions.

Human Resources

Holiday Schedule

State law allows institutions in the UNT System to establish their holiday schedule. The holidays may be set on any days the UNT System Board of Regents chooses, but the number of holidays may not exceed the total number of days allocated by the State of Texas. Listed at the link below are the holiday schedules approved by the Board.

Access the holiday schedules for University of North Texas, UNT Health Science Center, UNT Dallas and UNT System Administration online at http://bsc.untsystem.edu/holiday-schedule.

UNT Health Clinics will close in the afternoons on December 24 and 31. Clinics will close for the full day December 25, 2012, and January 1, 2013.

IRS Announces Pension Plan Limitations for 2013

On October 18, 2012, the Internal Revenue Service announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2013. In general, these limits will either remain unchanged, or the inflation adjustments for 2013 will be small.

Highlights include:

• The elective deferral (contribution) limit for employees who participate in voluntary retirement savings plans, and the federal government's Thrift Savings Plan changed to $17,500.
  • This is the general limit that applies to all employees participating in a 403(b) or 457 retirement savings plan.
• The catch-up contribution limit under those plans for those aged 50 and over remains unchanged at $5,500.
  • Any employee over the age of 50 who participates in a 403(b) or 457 retirement savings plan can take advantage of this extra limit.
• The limitation for defined contribution plans changed to $51,000 for 2013.
  • For employees who participate in Optional Retirement Program (ORP) and have a 403(b) retirement savings plan, the total of the employee contributions to ORP, employer contributions to ORP, and employee contributions to a 403(b) cannot exceed $51,000 in a calendar year.
• The annual compensation limit changed to $255,000.
  • This refers to the maximum amount of salary that can be taken into account for ORP or TRS purposes.

Payroll

Employees Encouraged to Receive Documents Electronically

It is almost that time of year again when employees will begin to prepare for the tax season. Employees at UNT System institutions are encouraged to sign up to receive the Form W-2 electronically, and are encouraged to receive paychecks via direct deposit.

In addition to saving paper and time, there are several other benefits to employees who elect to receive the W-2 online:

• Earlier access to the Form W-2.
• No possibility an employee’s Form W-2 might be lost, stolen, delayed or misplaced by the U.S. mail service or by the employee, once received.
• Employees can retrieve their Form W-2 statements at any time of the day and on weekends on a secure website.
• Employees can print multiple copies at their convenience.
• Once an employee’s consent is received to access the Form W-2 electronically, no action is needed in future years.

Printing paper checks costs UNT System institutions more than $3,000 per month. Employees are encouraged to sign up for direct deposit in order to save money, and receive the following additional benefits:

• Avoid check cashing fees.
• No paper to lose or damage.
• Reducing paper waste is better for the environment.
• Avoid a trip to the bank or ATM.
• Direct deposit funds are available immediately on payday.
• Paychecks are deposited even if the employee is out of the office on payday.
• Paycheck gets deposited even in the case of severe weather.
• Direct deposit reduces the risk of identity theft.

Learn how to sign up to receive the W-2 electronically, or how to sign up for direct deposit by accessing https://bsc.untsystem.edu/payroll-resources.

Payroll Tax Holiday Expires December 31, 2012

Beginning in January 2013, employees at UNT System institutions may notice a slight change in net pay on their monthly paycheck. The Payroll Tax Holiday implemented in 2010 is set to expire December 31, 2012. The tax cut reduced the percentage of Social Security Tax from 6.2 percent to 4.2 percent.

The Payroll Tax Holiday expiration means the January 2, 2013, paycheck will include a two percent increase in the Social Security deduction, resulting in a smaller net pay. The following example is provided to help illustrate the projected impact on employee paychecks.

Pay Date Calendars

Pay date calendars for Fiscal Year 2013 have been posted online. The calendars include monthly and semi-monthly pay dates through August 2013.

Access the calendars by accessing http://bsc.untsystem.edu/fiscal-year-2013-pay-date-calendars

Purchasing

Co-op Spotlight – Department of Information Resources

A number of state and privately sponsored buying cooperatives offer special pricing. Purchasing from a cooperative or taking advantage of a state contract may exempt the purchase from bidding requirements. To find a complete list of the cooperative agreements available for University of North Texas System member institutions, access http://bsc.untsystem.edu/contract-pricing.

Highlighted in this issue is the Texas Department of Information Resources (DIR). The DIR serves as a source for state negotiated contracts for technology solutions. No bidding, HUB forms, or contract review are required.

The agency was created in 1989 when the Texas Legislature enacted Chapter 2054, Texas Government Code—the Information Resources Management Act. DIR has served in a leadership role to facilitate the state’s economic competitiveness through its ability to deliver quality information resources commodities and services at the lowest prices and best value for state and local government as well as the K–12 public and higher education systems. Learn more about the Texas Department of Information Resources online at http://www2.dir.state.tx.us/about/Pages/aboutDIR.aspx.

BSC Notes

Stay Informed

Occasionally, the BSC will send updates to employees to announce a new program, changes to procedures, or reminders about deadlines. In order to stay up-to-date with news from the BSC, UNT System employees are encouraged subscribe to BSC Updates online at http://bsc.untsystem.edu/newsletter/subscriptions.