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Tuition Reimbursement
Benefits & Compensation
Tuition Reimbursement
Exchange ideas about health plans, retirement, work/life benefits, and employee assistance.
We are a small softare company and are looking to develop a tuition reimbursement policy. I was wondering what some standards are for annual cap, waiting period, eligibility, and grades.
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Forums » Topic Forums » Benefits & Compensation » Tuition Reimbursement
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Tuition Reimbursement
posted at 2/2/2009 10:06 AM EST
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Posts: 62
First: 9/13/2005 Last: 11/19/2010 |
Before our program went bye-bye with the economy, we had a reimbursement program to encourage employees to further undegraduate education. Any permanent employee who had completed 90 days with the company was eligible. We paid a flat amout for the school year to reimburse for qualifying educational expenses (tuition, books, fees, supplies) for eligible courses. Eligible courses were defined as those taken at an accredited collected, required courses in a curriculum program leading to an undergraduate degree, taken for a grade and completed with a grade of C or better, and not involving sports, games, or hobbies. |
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Tuition Reimbursement
posted at 2/3/2009 3:17 AM EST
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Posts: 2146
First: 2/15/2006 Last: 9/14/2011 |
You might check with your corporate accountant on the taxability/tax laws of such programs. Many companies use those to decide maximums etc as they want to have an "accountable" plan that is nontaxable to the employee.
Here's a link to the IRS thoughts on it: http://www.irs.gov/publications/p970/ch12.html |
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Tuition Reimbursement
posted at 2/4/2009 2:53 AM EST
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Posts: 237
First: 7/10/2007 Last: 8/31/2011 |
We had one when I worked for a software company back in the 90s. It was a pay-for-performance program where you received 50% of tuition if you got a C in the class, 75% for a B and 100% for an A. Ungraded classes were all or nothing. I included a 6 mon. pay-back-if-you-leave provision but was tough to enforce. We also required that the employees supervisor approve the class as relevant to their job or career path. |
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