The following is a general overview of the income benefits Centennial Mental Health Center offers its employees. For complete information on each benefit, please refer to the Employee Handbook.

Pay Date

Employees are paid for work on a calendar month. Paychecks will be issued by the 10^th of the month. Timesheets are due the 15^th and last day of the month.

Payroll Direct Deposit

Employees may opt to have their checks directly deposited into their checking or savings accounts. An employee can select up to two separate accounts to have their check deposited to. Funds dispersed by direct deposit are available the morning of pay day. Employees choosing to participate in direct deposit will receive a check stub with the check portion showing **VOID**.

Retirement Plan (.50 FTE)

Through VALIC , the Center offers an IRS 403(b) tax sheltered pension program. This qualified plan allows employees to join the voluntary portion of the plan at any time by contributing 3% of their base monthly salary, not to exceed $15,500 in any year. Employees have the choice of investing the money in several different types of mutual funds with a variety of risk levels.

Employees may chose to contribute to a VALIC plan during their first year of employment. The Center will contribute 3% of the base salary of employees enrolled in the plan who contribute at least 3% of their base salary to the plan. Center contributions will begin the first month the employee begins participation in the plan. After three years of both Centennial and the employee contributing 3%, the Center will increase its contribution to 4%, as long as the employee continues to contribute at least 4% of the base salary to the plan.

The employee’s contributions are vested immediately upon participation in any part of the plan. The Center’s contributions vest on a tiered basis and are fully vested to the employee after five year’s of participation.

Contact Joel Nelson 970-521-7800 or 1-800-488-2542 x88733 or joel_nelson@aigvalic.com for more information.

Cafeteria Plan (.75 FTE)

IRC Section 125 (cafeteria plan) is a tax regulation that lets employees redirect a portion of their taxable gross salary to one of three pre-taxed benefits accounts to pay for eligible expenses:

•  Out-Of-Pocket Medical Expenses

•  Child or Dependent Day Care Expenses

•  Employer Sponsored Insurance Premiums (Health, Dental, Life, etc.)

The Center’s Cafeteria Plan is administrated by Affiliated Benefit Consultants.

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