W-2s for calendar year 2019 were mailed to your home during the week of January 27, 2020. If you need another copy, please visit the IVisions portal under My Compensation and download the form. Questions should be directed to Shane Wolf at swolf@centralriversaea.org or 319/273-8203.
To celebrate the Super Bowl and Valentine’s Day, the Culture and Climate Committee is sponsoring Foodie February at each office location. During the month of February, we will be collecting canned soup, peanut butter, jelly, and crackers. (NOTE: Please make sure donations are in-date.)
Donations will be given to each local food bank and drop-off locations at each office are:
To add to the fun, each office is challenged to display their donations in some form of football theme! Photos will be shared in March’s edition of The Channel. The best display will win bragging rights!
Wellmark offers insured employees the opportunity to enroll in their Blue365 program and during the month of February you can join Fitness Your Way and have the $29 enrollment fee waived. You’ll pay just $29 a month for access to their network of over 10,000 gyms and with Fitness Your Way, you are not limited to just one facility and can workout at multiple participating gyms.
Wellmark Blue365 can be accessed through the Portal > My Benefits > 2019-20 Insurance Information > Wellmark > Wellmark.com. Login to an existing account or register for a new account. You will need your insurance ID number to create an account. Once in your personal account, click on Well-Being > Visit Blue365 (under Member Discounts).
There you will find great deals on a variety of benefits for members. Fitness Your Way is located under the Fitness tab.
Please contact Betty Hesseling at 319-273-8202 if you have questions or need assistance setting up your Blue365 account.
The CRAEA Board recently approved moving to a new phone system with Zoom. Our current phone systems located at each office will be phased out by March 2020. If you will be impacted by this change, you will be contacted via email from Zoom when your phone number has been established. Below are scheduled training and telephone system cutover dates for each region. As we move forward migrating each region we will be sending out communication via email and The Channel with detailed instructions.
The dates and locations for training are as follows:
Clear Lake: December 19th
Marshalltown: January 14th
Cedar Falls: February 17th
River Hills: February 17th
Questions? Contact Bryan Knecht.
In November, Central Rivers AEA hosted a Zoom “Lunch and Learn” meeting with an IPERS representative who did a great job of reviewing important information for those interested in starting the discussion around retirement. (You can view the PowerPoint here)
We know that IPERS is a “defined benefit” plan and retirement income is determined by a formula based on your years of service and salary earned. Although, IPERS is an excellent plan, it is often unable to meet the level of income that you receive as a full-time employee.
One key action you can take to improve your financial future is by taking additional steps to save for your retirement. A Voluntary Retirement Savings Plan (VRSP) allows you to save additional before-tax and/or after-tax money for retirement. Central Rivers AEA offers a 403b voluntary retirement savings plan through the State of Iowa Retirement Investors Club. The salary reduction form and more information can also be found on in the iVisions portal.
Before tax: By participating in a VRSP with before-tax contributions (i.e. 403b), you lower your federal and state taxable wages, but not Social Security or Medicare taxable wages. The contributions and any earnings become taxable when a qualified withdrawal is made in retirement.
After tax: By participating in a VRSP with after-tax contributions (i.e. Roth), you won’t lower your federal and state taxable wages, but qualified withdrawals will not be taxable in retirement and any earnings are tax-free.
In an effort to be fully financially prepared for retirement, we encourage all of our staff to go beyond IPERS, and contribute to a secondary retirement vehicle (i.e., 403B, IRA).
Please let the HR/Business Office know if we can assist you in any way.
(Disclaimer: The content above is for informational purposes only, you should not construe any such information as legal, tax, investment, financial, or other advice.)
Effective January 1, 2020, the contribution limits for Health Savings Accounts (HSA) are increasing as outlined in the table below:
| Health Savings Account Contribution Limits | ||
| HSA contribution limit | 2020 | 2019 |
| Individual | $3,550 | $3,500 |
| Family | $7,100 | $7,000 |
| HSA catch-up contributions
(age 55 or older)* |
$1,000 | $1,000 |
| *Catch-up contributions can be made during the year by HSA-eligible participants who will turn 55 by the end of the year | ||
Take advantage of this pre-tax benefit and save for future medical expenses or your retirement. You may change your contribution to your health savings account at any time during the year by contacting Betty Hesseling.
The Iowa Retirement Investors’ Club (RIC) is our voluntary retirement savings program that allows you to set aside a portion of your salary for use as income in retirement. Through automatic salary reductions, you choose how much to save per paycheck up to the IRS maximum annual limits. Complete the RIC 403b Salary Reduction Form to enroll or contact Betty Hesseling for more information.
IRS 403b maximum contribution limits are:
| Year | Regular | Age 50+ | 15-Year Catch-Up | Total Employee | Total EE & ER |
| 2020 | $19,500 | $26,000 | $22,500 | $ 29,000 | $57,000 |
| 2019 | $ 19,000 | $25,000 | $22,000 | $28,000 | $56,000 |
Existing participants – You may make changes to the amount of your contributions at any time by completing the RIC 403b Salary Reduction Form and submitting it as instructed on the form.
New to RIC? Check out the great benefits and find out how to enroll by visiting the RIC website.
At roughly the half-way point, a preliminary report has been generated and to date, the agency will be paying out over $40,000 to staff who have completed challenges through December 29, 2019.
Anyone who has earned incentive dollars will automatically receive a separate electronic direct deposit on January 23, 2020. It’s also a great time to start thinking about your New Year’s Resolution and your dedication to earn more money.
Remember to log your final entries for any ongoing challenges into the Navigate system by December 29, 2019.