To Participants of Tax-Deferred Annuity Plans

  • All employee and University contributions (if applicable) attributable to the month of December will be remitted to Vanguard and TIAA-CREF during the month of December. As a result, your fourth-quarter statement(s) for 1999 from Vanguard and/or TIAA-CREF will show one additional contribution, and your first-quarter statement(s) for 2000 will show one less contribution.
  • Effective January 1, 2000, the maximum deferral limit as set by the Internal Revenue Service will be raised from $10,000 to $10,500. This limit refers to the maximum amount of pre-tax salary that you may legally defer in a given calendar year. Please note, depending on your situation, your contribution limit may actually be lower than $10,500. Or, you may be able to contribute more than this limit due to a special catch-up provision.

If you currently participate in the Basic Tax-Deferred Annuity Plan, a personalized calculation for calendar year 2000 will be sent to your home in late January. Questions pertaining to your calculation (for both Vanguard and TIAA-CREF participants) may be directed to TIAA-CREF's Tax-Deferred Annuity Calculation Unit at (800) 842-2733, extension 2929.

  • Also effective January 1, 2000, the maximum compensation limit as set by the Internal Revenue Service will be raised from $160,000 to a new limit of $170,000. Federal law limits the amount of compensation that may be taken into account for purposes of calculating your contributions in any given calendar year.

To Participants in the Keystone HMO and the UPHS Point of Service Plans

  • Please note that effective December 1, 1999, if your dependent child becomes ineligible because of age or loss of student status, coverage will now end on the last day of the Plan Year (June 30) rather than the last day of the calendar year (December 31). If you have any questions, you may contact the Penn Benefits Center at 1-888-PENNBEN (1-888-736-6236).

--Division of Human Resources

Financial Planning: December 7-9

American Express will conduct a seminar Planning to Retire? Financial Steps for Today. Learn what you can do today to plan for your retirement tomorrow. All seminars will be held in 105 Williams Hall as follows:

Tuesday, December 7: noon to 1:30 p.m. and 3:30 to 5 p.m.

Wednesday, December 8: 10:30 a.m. to noon and 2 to 3:30 p.m.

Thursday, December 9: noon to 1:30 p.m. and 3:30 to 5 p.m.

To register, call 1-800-220-2190, Ext. 303 or e-mail william.b.carter@aexp.com. (Walk-ins are also welcome.)

--Division of Human Resources


The exhibit Treasures of the Chinese Scholar was in the December AT PENN calendar in error, and is not currently at the University Museum. Also, the tour of that exhibit that is listed in the calendar for December 17 will not be held.

Almanac, Vol. 46, No. 14, December 7, 1999

| FRONT PAGE | CONTENTS | JOB-OPS | CRIMESTATS | Holiday Shopping 1999, Part One | COUNCIL: State of the University, Part Two (Barchi & Conn) | TALK ABOUT TEACHING ARCHIVE | BETWEEN ISSUES | DECEMBER at PENN |