Educational Benefits For Employees In Wayne

State:
Multi-State
County:
Wayne
Control #:
US-00451BG
Format:
Word; 
Rich Text
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Description

The Educational Assistance Program for Employees in Wayne is designed to support employee skill development through financial assistance for approved educational courses. This program is available to full-time employees who have completed at least one year of service. Key features include reimbursement for tuition and registration fees based on grades received, with specific percentages outlined for grades ranging from A to lower than C. Employees must ensure that their educational pursuits do not interfere with their job responsibilities and gain prior approval from their supervisor and human resources department. Participants can only claim reimbursement for the difference of costs if they have other funding sources. To receive reimbursement, employees must submit an official transcript and proof of payment after course completion. The form underscores a commitment to employee growth while also stipulating that any reimbursements must be repaid if the employee departs from the organization within two years. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants who may benefit from further education relevant to their roles, thereby strengthening their professional qualifications and enhancing overall workplace productivity.
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FAQ

The Tuition Incentive Program (TIP) encourages eligible students to complete high school by providing tuition assistance for the first two years of college and beyond. WSU qualifies as a Phase II Michigan degree-granting university.

Insurance Benefits: The State of Michigan offers health, mental health, dental, and vision insurance to eligible career employees, their spouses, and their children. The state also covers a life-insurance benefit of two times employees' annual salary (up to $200,000).

Limit: The maximum permissible limit under Section 80C of the Income Tax Act 1961 is Rs. 1.5 lakh with deductions eligible only for two children per assessee.

For the American Opportunity Credit the education credit income limit is as follows: Single, head of household, or qualifying widow(er) — $80,000-$90,000. Married filing jointly — $160,000-$180,000.

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Educational Benefits For Employees In Wayne