Educational Assistance Program Employees Without Their Knowledge In New York
Category:
State:
Multi-State
Control #:
US-00451BG
Format:
Word;
Rich Text
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Description
This form offers education assistance to employees under certain circumstances. Courses must be from approved institutions of learning, such as accredited colleges, universities, and technical colleges or schools that offer certification in a field approved by employer. Also, the courses must be, in employer's opinion, directly or reasonably related to employee's present job or part of a degree program, or in line with a position that employer believes employee can reasonably achieve. If employee shall leave the employment of employer for any reason, within two years of any reimbursement, employee shall immediately repay all reimbursements back to employer.
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FAQ
Tuition reimbursement amount is now $5,000 for employees in certain bargaining units.
No reporting or tax withholding is required on educational assistance benefits provided to State employees up to the $5,250 limit for the tax year. Benefits that exceed the $5,250 limit are generally taxable, unless they qualify for exclusion as a “working condition fringe benefit.”
Tuition reimbursement is available to M/C employees for educational course work that is categorized as either job-related or career-related and offered by approved schools or organizations.