Read the December Issue Now!
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If the hustle and bustle of the holiday season is causing stress in your life, there are effective ways to manage your stress.
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| Your EAP offers resources to help you and your family better manage stress, so you can relax and enjoy the holidays. As part of our commitment and dedication to your health and wellness, your program offers a wide range of resources. |
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Review Annual Enrollment Materials
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Now that Annual Enrollment is over, it's a good time to review your 401(k) elections and consider any changes you would like to make for 2009. You may change your pre-tax, Roth after-tax or traditional after-tax contribution rate for any pay period. The contribution rate change schedule for 2009 will be posted on www.bcomplete.com by Dec. 1, 2008.
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| Read the November Issue Now! |
Last summer, the AgriBank District employers announced plans to offer a Retirement Choice opportunity starting in November 2008. This opportunity was designed to give employees hired before January 1, 2007, the option to participate in the same retirement program offered to employees hired on or after that date.
Learn More … |
Read the October Issue Now! |
It has been an unprecedented month on Wall Street – unlike anything that many of us have seen in recent times. Not only has there been a lot of buzz about these events and the effect for Farm Credit, but you are thinking about how these events have impacted you personally – specifically with the 401(k) plan.
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The unprecedented events of the last week and the financial crisis that has unfolded over the last year have presented extreme challenges for all investors. NYLIM continues to monitor events, navigate markets, and anticipate changing conditions with the goal of protecting client assets during these turbulent times.
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New York Life has developed two new communications to support participants through this period of turbulent markets. These communications will be posted to the Benefits Complete participant website.
The first piece is a Q&A document to answer common questions we have been hearing from participants.
The second piece is a market volatility overview that encourages participants to focus on the long term. |
Effective July 1, 2008, the ability to write covered calls and purchase long options became an additional feature to the TD AMERITRADE self-directed brokerage account arrangement through the Farm Credit Foundations Defined Contribution/401(k) Plan.
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As we approach the fourth quarter, it is important to understand annual contribution limits that apply to your 401(k) plan and what you may need to do in order to maximize the employer-matching contributions. The Internal Revenue Code (IRC) imposes limits on 401(k) plan combined pre-tax and Roth after-tax contributions ($15,500 in 2008, plus a maximum additional $5,000 “catch up” contributions for those 50 or older by the end of the calendar year).
Learn More … |
Read the September Issue Now! |
Bank of America is auditing Health Care FSA and Limited Purpose FSA transactions to ensure they have the necessary documentation to substantiate transactions. If you have an unsubstantiated FSA transaction, you may receive a letter from Bank of America requesting substantiation documentation.
The Internal Revenue Service requires FSA reimbursements be accompanied by the appropriate documentation from the third party—typically receipts or EOBs—to show if it is a qualified expense.
To substantiate your transaction:
- Log into your online Bank of America account
- Follow the steps listed in the Bank of America letter
If you have any questions regarding your account contact Bank of America Customer Service at 1-866-791-0250. |
The HOPE Health Letter is the ideal way to learn more about your well-being and help you take control of your health.
Read the August Issue Now! |
BlueCross BlueShield of Illinois is currently requesting certification of student status. If you have a dependent child age 19-25, you will be receiving a Student Certification Form which must be completed documenting full-time student status for the fall semester.
Please complete the Student Certification form and return directly to BCBS of IL in the return envelope provided to you. If the Student Certification Form is not completed and returned to BCBS of IL your dependent’s coverage will be cancelled effective August 31.
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Are you looking to learn more about your benefits package? What if you need to review the amount of your deductible, check your out-of-pocket maximum or find out what your dental benefits are covered. Foundations has created an interactive Benefits Presentation!
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The HOPE Health Letter is the ideal way to learn more about your well-being and help you take control of your health.
Read the July Issue Now! |
You may have received a letter from Bank of America recently stating that as a “former employee of Farm Credit” you are eligible to continue your Health Savings Account (HSA) on an individual basis.
Learn More ... |
If you were enrolled in the Consumer Choice PPO Plan last year, you will receive tax forms associated with your Health Savings Account (HSA).
- Form 1099-SA notifies the IRS of distributions made from your HSA during the tax year.
- Form 5498-SA notifies the IRS of contributions made to your HSA during the tax year.
ACS/Mellon and Bank of America issued the appropriate form(s) with instructions about the use and requirements for filing the banking institution’s annual tax return.
Resources
Here are some resources to help with your questions:
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June Hope Health Letter!
June 4, 2008 |
The HOPE Health Letter is the ideal way to learn more about your well-being and help you take control of your health.
Read the June Issue Now! |
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Wellness Benefits Newsletter
May 29, 2008 |
Do you have specific questions about your wellness benefits? What about questions about copays, or the difference between wellness care and routine care? Foundations has created a newsletter about wellness benefits.
Read It Now! |
Read the Hope Health Newsletter online! The HOPE Health Letter is the ideal way to learn more about your well-being and help you take control of your health.
Read the May Issue Now! |
| In late March, the state of Idaho announced additional 2008 withholding changes. Though the change is retroactive Jan. 1, 2008, the state has confirmed that no retroactive withholding tax adjustments are required. Learn More ... |
The previously reported issues with the BlueCross BlueShield of Illinois web site have been resolved. You can log into the site with your existing user name and password, and can access all of your claim activity. |
Now you can read the Hope Health Newsletter online is a .pdf format. The HOPE Health Letter is the ideal way to learn more about your well-being and help you take control of your health. Read the April Issue Now! |
If you receive an e-mail alert that appears to come from Bank of America to request verification of your identity, do not respond. Do not click on the link! It is an e-mail scam called phishing. Phishing is an attempt to criminally and fraudulently acquire sensitive information, such as user names, password and credit card details, by pretending to be a trustworthy entity in an electronic communication. Contact Bank of America if you have questions regarding your account. Bank of America’s customer service’s number is 1-866-791-0250. |
BlueCross BlueShield of Illinois has informed us that it is still having issues with its Web site and that a fix will not go into effect until April 19. A message will be posted on BCBS’ Web site to let you know that the issue will not be resolved until that date. The message also will direct you to customer service. Customer service will then direct you to re-register on the portal under "sign up today" on the right hand side of the home page. You must create a new password and user ID. |
Blue Cross Blue Shield of Illinois is experiencing some difficulties with its Web site. This only affects you if you have been enrolled prior to Jan. 1, 2007. If you go to the Web site, you will only be able to see claim activity prior to Jan. 1, 2007. You also will see a message that your medical and dental coverage has been canceled. BCBS has assured us that it is working diligently to correct the problem. |
| Wichita employees should be on the lookout for Delta Dental identification cards that are being mailed to your home. If you need to request additional cards, contact Delta Dental at 1-800-234-3375. |
New York Life has made some enhancements designed to improve your 401(k) online experience. You may choose to make transactions online. And you now have the option to view confirmations and prospectuses online, rather than receive paper documents via U.S. mail.
Learn More ...
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Health care FSA and dependent care FSA claims need to be submitted to Ceridian FSA by March 31, 2008 for reimbursement.
Health care claim form
Dependent care claim form |
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It has been brought to our attention that Mellon mailed letters to some employees who requested to have their HSA transferred to Bank of America. These letters were sent without our knowledge.
Learn More ... |
Farm Credit Foundations is working with Mellon to complete the transfer of HSA funds to Bank of America. The transfer is expected to be completed by the end of February.
If you did not elect to participate in the group transfer,
here are your options … |
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You now have an additional 2 ½ days each payroll cycle to enter direct deposit, W-4 or dependent changes.
Learn More ... |
| If you had a Health Savings Account (HSA) in 2007, you will need to include certain information on your 2007 Federal income tax filing. Learn More ... |
| Access your SeeMyW2 by clicking on the SeeMyW2 link in Self-Service under Payroll and Tax Information. Learn More ... |
January 14, 2008
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