Can we contribute the value of our accumulated sick leave to the health care savings plan?
No. Sick leave is not tied to specific funding. University departments pay into a fringe pool at .34 percent of the departments’ payroll. This money funds vacation payouts when an employee leaves the University or takes a job in a different department. The fringe pool is only funded for vacation payouts. To pay out sick leave, the University would have to find an additional funding source.
Related Questions
- Can I contribute to a 529 savings plan, a Coverdell Education Savings Account and a College Illinois! Prepaid Tuition Program plan at the same time?
- What happens to balances of vacation and sick leave accumulated in the original position when an employee is placed under Regulation 32?
- What responsibilities does my employer have regarding the administration of the health care savings plan?
