University Of Michigan Benefits Office

HRAA

Benefits Office

Plans

Flexible Spending Accounts

Bi-Weekly Payroll Deduction Schedules

Flexible Spending Accounts
	Benefits Plans Home
	Plan Overview
	Eligibility and Enrollment
	Enrollment Form
	How You Benefit
	Advantages of FSA Accounts
	Contribution Limits
	Effective Dates and Mid-Year Election Changes
	Questions to Consider
	About SHPs
	Electronic Fund Transfer (EFT)
	Health Care Flexible Spending Accounts
	SHPS Spending Account Card
	Dependent Care Flexible Spending Accounts
	Kids Kare at Home
	Submitting Claims for Reimbursement
	Special Circumstances
	Bi-Weekly Payroll Deductions for FSA Accounts

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	Benefits Education

Questions
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	HR/Payroll Service Center

Bi-Weekly Payroll Deduction Schedules for Flexible Spending Accounts

If you are paid bi-weekly, the contribution amount you elect for Health Care or Dependent Care Flexible Spending Accounts (FSA) is divided into 24 equal amounts. Deductions will be taken from the first two paychecks each month. In months where there are three paychecks, you will not have a deduction from the last paycheck. Deductions taken in one month are reported to SHPS on the first working day of the following month. For example, in May 2008, you will be paid on May 2nd, 16th and 30th. Deductions will be taken from pay on the 2nd and the 16th and will be reported to SHPS on June 2nd, the first working day of the month.

Every effort has been made to ensure the accuracy of the benefits information in this site. However, if any provision on the benefits plans is unclear or ambiguous, the Benefits Office reserves the right to interpret the plan and resolve the problem. If any inconsistency exists between this site and the written plans or contracts, the actual provisions of each benefit plan will govern. The University in its sole discretion may modify, amend, or terminate the benefits provided with respect to any individual receiving benefits, including active employees, retirees, and their spouses, partners, and dependents.