Beginning July 1, 2018, the State of Maryland's minimum wage will increase to $10.10 per hour.  All hourly employees, including students paid on contract and Federal Work-Study, who do not meet this minimum will have their rate of pay automatically adjusted to the new State minimum.   Eligible employees will see the new wage reflected in paycheck received on 7/27/2018.

To review the MD State minimum wage schedule through 2018, please visit the HR Classification/Compensation website at http://hr.umbc.edu/compensationclassification/.

To PeopleSoft Finance Users

As part of the 9.2 upgrade, the process for closing purchase orders has been modified.  Effective immediately, the Accounts Payable department will close all purchase orders after final payment has been completed.  This closure will be done automatically without needing a request from the department.   Departments should also contact Accounts Payable to close any purchase orders that are completed but still have a remaining balance.   The Department of Procurement & Strategic Sourcing will no longer be closing purchase orders.  If you have any questions, please feel free to contact Accounts Payable or Procurement & Strategic Sourcing.

Elizabeth Moss x5-2540 and Sasha Hudson x5-1489

Meet Savannah, our new MRSP Nationwide Retirement Specialist.

She will be visiting UMBC on Wednesday June 13^th from 9:30 am – 2:30 pm and is taking one-on-one appointments.

She can help you:

• Enroll in the 401(k) / 457 / 403(b)
• Learn about the tax advantages of a Roth plan!  (Nationwide is the only vendor who offers Roth)
• Increase Contributions
• Consolidate Your Accounts
• Review your Investment Options
• Please note:  Contractual Employees are eligible to participate in all Supplemental Plans 

In response to the State changes announced earlier this month, UMBC created a dedicated webpage with information and resources for retirees:  UMBC Retiree Prescription Plan Changes Webpage:  https://hr.umbc.edu/benefits/retiree-prescription-plan-changes/

The State of Maryland’s Department of Budget & Management (DBM) recently announced a change to retiree prescription drug coverage effective January 1, 2019.   This does not impact active employees, but will impact current retirees, their dependents, and prospective retirees in their planning process. 

“Effective January 1, 2019, State Medicare-eligible retirees will no longer receive prescription drug coverage under the State health plan, and will need to enroll in a Medicare Part D for prescription drug by then to ensure there is no gap in coverage.  Retirees’ dependents who have not yet reached Medicare eligibility will see no change; they will continue to be eligible for both prescription drug and health benefits until they reach Medicare eligibility. Active State employees who are Medicare-eligible, but are still working, will likewise see no change in prescription drug and health benefits.” 

Below are links with more information regarding the recent announcement.  The Department of Budget & Management will be communicating directly to all current retirees and will be posting additional information to their site when it becomes available. 

Full Announcement:  http://dbm.maryland.gov/benefits/Pages/EGWP.aspx

DBM Website:  http://dbm.maryland.gov/benefits/pages/default.aspx

Prospective retirees can contact hrbenefits@umbc.edu with questions about the planning process.