|Dependent Care Spending Account
The Dependent Care Spending Account allows you to pay for eligible dependent care expenses with pre-tax dollars. Dependent Care Spending Account contributions are taken directly from your pay before federal, most state and city income and social security taxes are deducted.
Each calendar year during Annual Enrollment (November), all current full-time non-union employees may elect to contribute up to $5,000 of pay to a Dependent Care Spending Account to reimburse themselves for expenses that are incurred to care for eligible dependents, while at work. Full-time union represented employees are covered to the extent indicated in their collective bargaining agreements. Eligible dependents are those whom you are entitled to claim as dependents on your federal tax return. If you are married, your spouse must also work, be a full-time student, or be disabled.
For those hired after January 1, you have thirty (30) days from your hire date to make your enrollment election. Your enrollment will be effective as of the next available first of the month following your enrollment election. Your election is only effective for one year. Each year you will be required to make an election for the following year. The money set aside must (according to IRS regulations) be used or forfeited. This plan is administered by ADP ADP FlexDirect.
To receive reimbursement from the Dependent Care Spending Account, you need to complete a Dependent Care Spending Account Reimbursement Form.
Year-end unused contributions will NOT roll over to the new plan year.