Changes for 2014 Voluntary Short-Term Disability Insurance & Paid Family Leave
Beginning January 1, 2014, the taxable wage base will increase from $100,880 to $101,636 of your calendar year earnings. However, the Plan withholding rate of 1.0% will remain unchanged. Therefore, the maximum annual Plan contribution will increase from $1,008.80 to $1,016.36. This is the same amount that you would be required to pay if you were covered by the State Plan.
For 2014, our Voluntary Plan will pay a weekly benefit equal to 55% of your regular earnings to a maximum of $1,075 for a period of up to 52 weeks. Similarly, benefits for Paid Family Leave Insurance will pay a weekly benefit equal to 55% of your regular earnings to a maximum benefit of $1,075 per week for a period of up to 6 weeks.
You have the right to withdraw from the Plan whenever there is a change made to the Plan. If you decide to withdraw, you must do so in writing. You have 10 days from the date of this announcement to submit your written notification to the Human Resources Department. Once you withdraw, you will be covered by the State Plan on the first day of the quarter following the date of your withdrawal. The State Plan generally pays a lower benefit and has more restrictive provisions than our Voluntary Plan.