HR100 Employee Assistance Fund
POLICY'S INITIAL DATE: September 06, 2012
THIS VERSION EFFECTIVE: June 11, 2024
Content:
PURPOSE:
The Employee Assistance Fund was established to put our employees first and is available to help offset hardships faced by full-time Penn State employees. It is an endowment with limited funds available, therefore, the level of support may be modest in relation to the overall need. Any payments made to an employee are not treated as a loan and therefore do not need to be paid back.
OVERVIEW:
Expenditures from the fund are authorized by the Vice President for Human Resources, in consultation with a small representative committee. Factors that may be used to determine eligibility include the nature of the hardship, the number and nature of previous requests, and income level.
It is anticipated that individuals requesting assistance from this fund will have sought help from other sources external to the University, if appropriate, before seeking assistance from this fund. If there is a need after exploring other sources, employees may submit an application, along with backup documentation. All information will be held to the highest degree of confidentiality.
CONTRIBUTING TO THE FUND:
Employees, and other members of the Penn State community, are encouraged to make contributions to help build the endowment. Employees who received monies from this fund are encouraged to contribute to the fund at a later time, if their financial situation permits. Employees and others interested in contributing can go to the Penn State's giving website and search for "Employee Special Assistance Fund."
TAXABILITY:
Monies received from the Employee Assistance Fund are considered taxable income. In order to ensure that employees receive the full, approved amount, the funding amount includes the amount approved by the University in addition to the amount of tax incurred. This gross amount is reported on the employee's W-2.
CROSS REFERENCES:
Support Linc (Employee Assistance Provider)