The San Antonio Housing Authority offers a highly competitive benefits package with a variety options to suit every employee's needs, including flexible retirement plans, a variety of medical, dental and vision benefits, and supplemental insurances. For more about SAHA's employee benefits, explore these links:
Benefits Summary
Benefits Summary
SAHA EMPLOYEE BENEFITS
SAHA currently contributes generous percentage towards the monthly premium for health insurance and will continue to do so for plan year 2006. In addition, SAHA contributes 25% of the monthly premium for dental insurance. Additionally, all benefits will only be offered under the Section 125, Cafeteria Plan in 2006. This means that employees will pay for benefits on a pre-tax basis, which potentially reduces taxable income.
Annual leave
Click here to view Pay calendar
Click here to view Holiday Schedule
Pension Plans
SAHA Pension Plan
The SAHA Pension Plan is a mandatory benefit and a condition of employment. SAHA contributes 11% toward the plan and the employee contributes 5%. Employees become eligible to participate in the plan after one year of employment.
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VESTING SCHEDULE
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PERCENTAGE
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1 |
20% |
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2 |
40% |
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3 |
60% |
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4 |
80% |
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5 |
100% |
457 Deferred Compensation Retirement Plan
SAHA offers it's employees a voluntary 457 Deferred Compensation retirement plan. Employees may begin to participate in the plan immediately.
Deferred Compensation is a program that allows you to save and invest today for your retirement. Federal and (in most cases) state income taxes are deferred until your assets are withdrawn, usually during retirement when you may be in a lower tax bracket.
Under Section 457 of the Internal Revenue Code, you may defer each year a maximum of 100% of your "gross compensation" or an annual dollar limit, whichever is less. The dollar limits are:
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YEAR |
CONTRIBUTION LIMIT |
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2003 |
$12,000 |
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2004 |
$13,000 |
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2005 |
$14,000 |
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2006 |
$15,000 |
Participation is handled through payroll deduction so your taxes are reduced each pay period.
Our plan allows you to increase, decrease, stop and restart contributions as often as you wish, without fees or penalties, subject to your employer's approval.
A 457 plan offers many advantages:
8 You reduce your current income taxes while you boost your retirement investments.
8 Your earnings accumulate tax-deferred.
8 You can dollar cost average through convenient payroll deductions.
8 If you are 50 (or older) or within three years of your normal retirement age and already contributing the maximum to your plan, you are allowed to make additional "catch-up" contributions.
8 It's portable. If you change jobs, you can consolidate your savings in another public sector employer's 457 plan, a qualified 401 plan, a tax-sheltered 403(b) annuity plan, or a Traditional IRA.
ICMA Retirement Corporation
The ICMA Retirement Corporation is committed to offering the best retirement products and services available. Our programs are designed specifically for the public sector employee. Some of the additional advantages are:
8 VantageLink Internet site at http://www.icmarc.org, recognize for its excellence in meeting the needs of participants
8 24-hour access to account information via toll-free telephone and the Internet
* Ability to transfer assets and allocate future contributions over the phone and the Internet
8 Ability to receive statements and confirms over the Internet
8 Competitive fees, no hidden fees. Free fund-to-fund transfers among investment options**
8 Personalized service, including assistance in enrollment and retirement planning
8 Quarterly combined account statements and performance summaries
8 Quarterly newsletter
8 Nationally recognized education materials including Charting Your Course, a comprehensive retirement planning tool www.icmarc.org
Health Coverage
SAHA currently contributes a generours percentage towards the monthly premium for health insurance and will continue to do so for plan year 2006. In addition, SAHA contributes 25% of the monthly premium for dental insurance. Additionally, all benefits will only be offered under the Section 125, Cafeteria Plan in 2006. This means that employees will pay for benefits on a pre-tax basis, which potentially reduces taxable income.
Qualifying Events
All medical, dental and vision benefits along with the Medical Reimbursement account and Dependent Care Reimbursement account will only be offered pre-tax this plan year.
What does this mean to you? Once you sign up for benefits during Open Enrollment, you will have to have a verifiable Qualifying Event occur in order to request any benefit changes.
What are Qualifying Events?
Birth or adoption of a child
Marriage or divorce
Death of spouse or eligible dependent
Change of employment status for you or your spouse such as: Leave of Absence, change of status from full to part-time, changes in employment
Legal custody or guardianship of a child
Medical Coverage
Click here to view Medical Coverage Table
FLEXIBLE SPENDING ACCOUNTS
MEDICAL REIMBURSEMENT ACCOUNT
The Medical Reimbursement Account, allows you to save money from your paycheck on a pre-tax basis, which potentially reduces your taxable income in order to pay for eligible medical expenses. This is a cost effective way to pay for health related expenses that are not covered by health and dental plan options.
If you elect this benefit, the process is easy and user friendly. For example, if you go to the store to fill a prescription and you have to pay a co-pay. All you have to do complete the enclosed Medical Reimbursement Form, attach the receipt and submit it to Payroll for reimbursement. A check will be mailed to your home or directly deposited to your account.
What are eligible expenses: Eligible expenses that you pay for out of pocket, for yourself or your household dependents are eligible expenses as long as they fall within the following guidelines. Defined by the IRS, we have simplified a list of a variety of the eligible expenses below, this is not an all-inclusive list, please refer to IRS Publication 502 Medical & Dental Expenses for additional information.
Insurance Related Items:
Deductibles, co-payments/co insurance, pre-existing condition expenses, private hospital room differential
Medical Treatments:
Acupuncture, Alcoholism, Reconstructive surgery, hospital services, infertility, physical therapy, speech therapy, transplants, vaccinations, Well Baby Care, pre-natal & post-natal care
Medical Equipment, supplies & Services:
Ambulance services, orthopedic shoes/arches, counseling, crutches, hospital bed, lead paint removal, medic alert bracelet/necklace, oxygen equipment, prosthesis, splints/casts, syringes, transportation expenses, wheelchairs, wigs
Lab Tests and Exams:
Blood tests, Cardiographs, diagnostic, laboratory fees, x-rays, hearing exams, physical exams
Dental:
Crown/Bridges, dental x-rays, dentures, exams/teeth cleaning, extractions, fillings, gum treatment, oral surgery, orthodontia/braces
Vision:
Artificial eyes, contact lenses, eye examinations, eye glasses, laser eye surgeries, prescription sunglasses
Medications & Prescription:
Prescribed over the counter drugs (i.e., antacids, aspirin, cough medicine, allergy medicine), insulin, prenatal vitamins, Norplant insertion/removal, contraceptives, insulin, prescribed vitamins, prescription drugs.
Flexible Spending Accounts/ Important Information Regarding...
Click here to view Dental Coverage Table
Click here to view Vision Coverage Table
Suplemental Insurance
Supplemental insurance is a voluntary benefit that enables you to select coverage that allows you to tailor a plan to meet your individual needs.
SHORT TERM DISABILITY INSURANCE COVERAGE- Provides monthly benefits to replace a portion of your income if you are unable to work due to a covered disability.
ACCIDENT INSURANCE COVERAGE- Helps cover the direct and indirect expenses that may result from an accident. The benefits are paid directly to you. Coverage is available for employees, spouses and dependents and is guaranteed renewable for life.
CANCER INSURANCE COVERAGE-Complements major medical coverage by helping you pay for the direct and indirect costs associated with cancer treatment. The benefits are paid directly to you and pay regardless of any other coverage. This coverage pays a benefit when you elect to elect to have an annual cancer screening. Four levels of coverage are available for employees, spouses and dependents.
LIFE INSURANCE COVERAGE-Enables you to tailor coverage for your individual needs and helps provide financial security for your family members.
UNIVERSAL LIFE INSURANCE-Provides a base cash value insurance with flexible coverage and premiums amounts to help meet the employee's changing needs. Coverage available for employee only, spouse or dependents.
LEVEL TERM LIFE INSURANCE-Allows the employee to choose a plan that best fits his or her needs. Affordable term insurance can help supplements employer-provided group coverage, and expands benefit amounts without additional administrative costs. Premiums remain level for ten years
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