You have undoubtedly heard about the pending “fiscal cliff” facing our federal government. What you may not know or remember is the fiscal cliff could result in a decrease in your take home pay beginning January 2013.
One part of the fiscal cliff, the so-called “Bush era tax cuts,” are currently set to expire on December 31, 2012. Within the Bush-era tax cuts are the withholding tables used to calculate the amount of federal income tax that is withheld from your paycheck. The withholding tables are graduated based on income. Today those rates are 10%, 15%, 25%, 28%, 33% and 35%. If these rates are allowed to expire, they will default back to the prior rates of 15%, 28%, 31%, 36% and 39.6%, resulting in less take home pay.
Another item affecting your paycheck beginning January 2013 is the FICA (Social Security) tax rate. President Obama signed a series of laws that reduced the FICA withholding rate for employees from 6.2% to 4.2%. The 4.2% FICA rate has been in effect for all of calendar years 2011 and 2012. The rate is scheduled to return to 6.2% in January 2013. This change will decrease the amount of your take home pay as well.
We will continue to closely monitor these tax changes that could result in a noticeable decrease in your take home pay beginning in January. We’ll communicate with you again when we know more. If you have any questions, please contact Steve Jordan, Payroll Specialist, at ext. 14908.
Heartland AEA is currently taking steps to comply with the federal grant rules identified in the Office of Management and Budget (OMB) Circular A-87, pertaining to documentation needed for federal expenditures. For employees who are funded 100% with federal funding, there are Circular A-87 audit requirements we need to meet in order to document appropriate expenditures. If you are in the fully funded group, on December 5 you will receive an email from aea11_online_systems_WF with the subject A87 Certification Notice - Action Required with a link to the certification page. The process is very simple and the same as last year.
If you are new to this process or need a refresher, below is a link to a PowerPoint presentation that explains the background for Circular A-87 and the steps Heartland AEA is taking to meet the A-87 requirements. Please watch the 5-minute video by clicking here. (Password is a87aea) Keep in mind that the video was created in March 2011. Although, some of the dates and timelines in the video are outdated, the process and the purpose of the A-87 certification are still the same. You will need to click on the play button in order to start the video. As the video will explain, employees who are fully funded from one grant will need to certify every six months that they are performing duties allowed under the federal grant.
If you have any questions, contact Brian Whalen, Business Manager, at bwhalen@aea11.k12.ia.us or ext. 14005. The Business Office appreciates your prompt completion of the certifications and your assistance in helping us comply with this reporting requirement.
Are you experiencing difficulties in your marriage, stress with a rebellious teenager or an aging parent who needs more care than you’re able to give? Are the holidays an especially difficult time for you?
If you need help now or anytime throughout the year, Heartland AEA offers employee assistance program (EAP) services through Bensinger, Dupont and Associates (BDA). Under the EAP you can receive no-cost, confidential help for a wide variety of needs and concerns, such as:
- Depression
- Stress management
- Anxiety
- Marital difficulties
- Relationship problems
- Family conflict
- Alcohol or drug addictions
- Financial concerns – telephone consultation with financial consultant on budgeting, taxes and debt consolidation
- Parenting concerns
- Problem gambling
- Eating disorders
- Legal concerns – telephone and/or one in-person consultation with an attorney on tax filing, guardianship and power-of-attorney services
- Childcare and eldercare – telephone consultation with a work-life professional to provide information, referrals and resources related to childcare or eldercare concerns
BDA offers up to three in-person assessment and counseling sessions by masters-degreed counselors 24-hours a day, seven days a week through a toll-free number. Your information will be completely confidential.
If this service would be of assistance, contact:
Bensinger, DuPont and Associates
(866) 451-5465
Online services are available at: niseap.com
Your password is: NISenhanced
Click here to download a brochure to learn more about EAP services and to have the contact information close at hand.
Questions or feedback may be addressed to Kathy Martin, Benefits Specialist, at kmartin@aea11.k12.ia.us or ext. 14385.
Are you thinking of retiring in the next two to three years? If so, you may be interested in attending a “Planning for Retirement” session on January 16, 2013 from 3:00-5:00 p.m. in Conference Rooms 13A and B at the Johnston REC.
Representatives from IPERS and Social Security will be providing guidance to those who are close to retirement on what you need to know to make the best choices for your retirement years.
More information will be coming soon, but save the date if this is of interest to you. We’ll be asking you to register so that we can get individual IPERS benefit estimates for each attendee.
The URLs for the Teaching Replacement Behaviors sessions in the behavior stand of Internal Capacity Building have been finalized. Click here to go to the Internal Capacity Building Google Site that contains the information.
Region 1
Dec. 5
8:30 a.m.-4:00 p.m.
Guthrie Center Activity Center,
209 State St., Guthrie Center
Region 2
Dec. 20
8:30-11:30 a.m.
Adel AEA Office
Region 3
Dec. 4
8:30 a.m.-noon
Indianola Church of Christ,
1112 East Iowa Ave., Indianola
Region 4
Dec. 13
8:30-11:30 a.m.
Johnston REC, Conference Room 14
Region 5
Dec. 17
1:00-4:00 p.m.
Johnston REC, Conference Rooms 3 & 4
Region 6
Dec. 7
1:00-4:00 p.m.
Johnston REC, Conference Rooms 3 & 4
Region 7
Dec. 7
8:30-11:30 a.m.
Ames AEA Office
Region 8
Dec. 11
1:00-4:00 p.m.
Colfax Historical Society Building,
just off I-80 on Highway 117 heading south into Colfax
