Furloughed Associate Updates

 

In light of the ongoing and unprecedented COVID-19 pandemic, PSEB has made the extremely difficult decision to extend the temporary store closures until April 26, 2020.  As a result, furloughs have rolled out effecting every part of the company.  This means you may have been placed on a temporary, unpaid leave of absence.

As you have been advised, the company will pay the healthcare related premiums while on the unpaid furlough.  However, if at any time you are issued a payroll payment, and are for example, paid for sick time, it is important to note that there are deductions the company must deduct. Below is a list of those deductions that will be taken, as well as action you can take if you would like to change them.

Deductions Required to be Taken If Receiving a Payroll Payment

  • 401(k) and 401(k) Roth contributions
  • 401(k) Loan payments
  • Flexible Spending (FSA) for Healthcare, Dependent care and Transportation, as applicable
  • Legally required taxes and garnishments

Action Steps to Change Deductions as Allowed

  • 401(k) and Roth contribution
  • Flexible Spending (FSA) for Dependent care
    • Furlough is a qualifying event to FSA stop dependent care deductions
    • Complete the attached form FSA Dependent Care Form and email to benefits@psebllc.com
    • Deadline is Friday between pay dates (e.g. 04/10/2020 to be processed for 04/17/2020 pay date)
    • Note: furlough is not a qualifying event to change FSA Healthcare
  • Flexible Spending (FSA) for Transportation
    • Furlough is a qualifying event to stop FSA transportation deductions
    • Complete the attached form FSA Commuter Form and email to benefits@psebllc.com
    • Deadline is Friday between pay dates (e.g. 04/10/2020 to be processed for 04/17/2020 pay date)
  • 401(k) Loan payments
    • Contact Empower Retirement at 888-411-4015 regarding re-amortization of loan payments

As a reminder, to request paid sick time, if available by applicable regulation, email HR@psebllc.com with your full legal name, UltiPro associate number, company name and sick hours requested.

For additional updates and resources please visit the following:

COVID-19 Updates

CARES Act – 401(k) Legislation

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