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Conference 7.286::digital

Title:The Digital way of working
Moderator:QUARK::LIONELON
Created:Fri Feb 14 1986
Last Modified:Fri Jun 06 1997
Last Successful Update:Fri Jun 06 1997
Number of topics:5321
Total number of notes:139771

3606.0. "HCRA/DCRA windfall?" by DNEAST::ARBOUR_STEVE () Tue Jan 03 1995 10:32

    
    Please note that last year 1994 is a 53 week year and thus you'll
    have an extra weeks worth of monies extracted to fund your HCRA/DCRA
    for the year. Thus if you had $40.00 taken out each week, your HCRA
    will be funded at $2120.00 instead of $2080.00 as in years past.
    
    
T.RTitleUserPersonal
Name
DateLines
3606.1QUARK::LIONELFree advice is worth every centTue Jan 03 1995 10:334
This is nothing new, and there's generally a notice about it in advance.
A bit late to do anything about it now, I'd think.

				Steve
3606.2March 31st deadlineDNEAST::ARBOUR_STEVETue Jan 03 1995 11:445
    
    Actually, you have until March 31, 1995 to submit expenses incurred in
    1994. I just want to let people know that there is an extra weeks
    worth of monies in your HCRA/DCRA account. No sense in forfeiting
    the money.
3606.3QUARK::LIONELFree advice is worth every centTue Jan 03 1995 12:415
I meant it's too late to adjust the contribution - people who carefully
calculate what their expenses will be and set the contribution to just equal
it could lose if they overlooked the 53-week year.

				Steve
3606.453 in '92 & '98, not '94 ?!LOCH::KNAUERTue Jan 03 1995 13:325
    If '94 was a 53 week year, then why does my 12/29 paystub, which has
    52 weeks worth of HCRA deductions, say "Retain this final 1994 pay
    statement for your records."?
    
    Mike
3606.5NOTIME::SACKSGerald Sacks ZKO2-3/N30 DTN:381-2085Tue Jan 03 1995 14:381
And why did my HCRA max out at 52 times my weekly contribution?
3606.6Maybe it's that State of Maine calendarDNEAST::ARBOUR_STEVETue Jan 03 1995 15:388
    Don't know... Just know that my 12/29 stub says 
    
    			current         ytd
    United Way           1.00          53.00
    Dental               2.25         119.25
    Hcra                40.00        2120.00
    
    
3606.752 week yearIVOSS1::TOMAN_RITue Jan 03 1995 16:506
    interesting
    
    my 12/29 stub indicates dental 117.00 or a 52 week year and my hcra is
    at 520.00 or a 52 week year
    
    rick
3606.8QUARK::LIONELFree advice is worth every centWed Jan 04 1995 10:123
Hmm - my 12/29 paycheck shows 52 weekly contributions.

			Steve
3606.91986 1992 1997 2003.....MILORD::BISHOPTake hold of the life that is truly lifeWed Jan 04 1995 11:5136
    No, it's not April 1st today, but I'd already been wondering what
    happened to HCRA in a 53-week year, and here's where I ended up...
    
    I'm not sure how often it will happen:
    
    The day the pay is "handed out" is the one that counts. In our case,
    that's Thursday. So the year has to start and end on a Thursday to get
    53 pay packets in a year. Sounds like one every five-six years
    depending on how many leap years in between?
    
    But no....If the first day of January is a Thursday, then as that's a
    holiday, we'll have been paid the previous day (also in the previous
    year). So it's a year that starts and ends on a Wednesday that will
    have 53 pay packets. I think.....
    
    And leap years? Years that start on a Wednesday and finish on a 
    Thursday would have 53 pay days. Those that start on a Thursday and 
    finish on a Friday would work the same as those that start and finish
    on a Thursday (1st pay packet would actually be in the preceding year).
    
    It looks to me like 1992 was a 53-week year (Wed-Thu). The next two are
    1997 and 2003 (both Wed-Wed). Out of curiosity, I'm going to hunt out
    my end-of-year paystub for 1992 and see how many weeks it was (I wasn't 
    doing HCRA then, but I should be able to work it out. I'm also going to
    look at 1986 and 1987 (the last Wed-Wed and Thu-Thu years) to check on
    those too.
    
    My paystub last week had $2080 HCRA. I can't quite understand how the 
    earlier noter had $2120. But in my case, it wouldn't worry me. I'd just
    submit another claim to get back the extra $40. Teenagers and
    orthodontics, plus other (usual and unusual) health costs, have put 
    me around 50% over the limit both the last two years....
    
    fwiw.
    
    - Richard.
3606.1053-week years begin on WednesdaysMILORD::BISHOPTake hold of the life that is truly lifeFri Jan 06 1995 09:594
    I checked last night. 1986 and 1992 were both 53-week years. So the
    next one is 1997 (the year after next :-)
    
    - Richard.