Tuition Reimbursement Policy

Transcription

1 Tuition Reimbursement Policy 11/18/2013 1

2 Purpose The purpose of the Tuition Reimbursement Program is to encourage professional growth and development, to meet certification requirements, and to increase Team Members knowledge and skills. Through this mutually beneficial program, both Beaulieu of America and its Team Members advance and develop in becoming the Employer of Choice. 2

3 TUITION REIMBURSEMENT Policy Statement: Beaulieu of America ( Beaulieu or the Company ) recognizes the continuing need and importance of a Tuition Reimbursement Program as it can help to build a workforce that is more productive and better motivated. In addition, it will enable Team Members to continue growing by developing their knowledge to better prepare them for both present and future opportunities. This commitment results in a mutually beneficial program designed to advance both Beaulieu and its Team Members. This program is an unfunded qualified educational assistance program as described in Internal Revenue Code section 127(b) (and applicable regulations) and is provided for the exclusive benefit of Beaulieu Team Members (employees). Beaulieu retains the right to terminate this program at any time, with or without notice. This program is not an employee welfare benefit plan under the Employee Retirement Income Security Act of 1974 (ERISA). Eligibility: The Tuition Reimbursement Program is open to all regular, full-time Employees of Beaulieu who have attained at least one year of consecutive, full-time service in their most recent employment period with the Company. Approvals: The Team Member s Employee Development Coach and the Sr. Manager of Employee Services must approve all courses in advance. Reimbursement: Beaulieu may reimburse a Team Member who successfully completes an approved course(s) with a grade of C or above or a Pass in a pass/fail system. After the Team Member successfully completes an approved class or classes, they will receive reimbursement from the Company to cover the cost of tuition, books, 3

4 and laboratory fees. GED courses, adult continuing education programs, vocational schools, colleges, and some distance learning courses are among the class work covered by the program. Reimbursements shall not exceed a total of $3, per Team Member, per calendar year. Budget Controls: (1) Reimbursements will not exceed a total of $3, per Team Member, per calendar year and will be awarded on a first come, first serve basis. (2) The maximum payout to all participating Team Members will be limited to the annual budgeted amount per calendar year. (3) Tuition Reimbursement is subject to oversight of a Tuition Reimbursement Review Team. Course Requirements: Courses must be taken at accredited colleges, universities, correspondence, or trade/technical schools and must be related to the Team Member s work or a career path that is reasonable for the Team Member to achieve within the Company, as determined by the Sr. Manager of Employee Services. Reimbursement Procedure: (A) The Team Member will contact Employee Services to request an application. (B) The Employee Development Coach will assist the Team Member with the application process. (C) The Team Member completes the Application for Tuition Reimbursement Request and signs the Tuition Reimbursement Repayment Agreement in advance of enrollment. (D) After verifying that the Team Member s length of service is a minimum of one year, the Employee Development Coach and the Team Member will sign the application. (E) The Employee Development Coach will then forward the application to the Sr. Manager of Employee Services who will review and research to make sure the request follows the policy guidelines on 4

5 course topics, accreditation, etc. The Sr. Manager of Employee Services will then offer the final approval/denial. (F) The Sr. Manager of Employee Services will retain the original request with signatures and mail a copy of the request along with the approval/denial letter to the Team Member at his/her home address on file and the Employee Development Coach as notification that the application has been approved or denied. The Employee Development Coach will place this copy in the Team Member s personnel file. (G) Upon satisfactory completion of the course(s), the Team Member will return their copy of the request form along with attached evidence of grades and payment of costs to the Sr. Manager of Employee Services. This must include a copy of an official transcript from the educational institution and a copy of an official tuition account statement from the institution showing the amount of tuition paid by the employee. The Sr. Manager of Employee Services will review all documents, approve or decline the request based on the submitted documents, then forward documents to the Sr. Director of Employee Services and the CFO for final approval/denial. If approved, Employee Services will request a check or direct deposit reimbursement of all approved and substantiated costs. If a Team Member requests a check, the check will be mailed to their current home address on file. After payment or denial, the entire application packet will be retained in Employee Services. A copy of the approved check request will be sent to the Employee Development Coach to be filed in the Team Member s personnel file with the copy of the original application. 5

6 APPLICATION FOR TUITION REIMBURSEMENT This form is to be completed prior to enrollment in a course. The completed form must be given to your Employee Development Coach and the Sr. Manager of Employee Services for approval. A copy of the approved form will be returned to the Team Member and Employee Development from Employee Services. NAME (Please print) EMPLOYEE NUMBER DATE OF HIRE SHIFT WORK LOCATION NAME AND NUMBER DEPT. NUMBER EMPLOYEE S PHONE NUMBER I intend to enroll in the following course(s) and request approval under the terms and conditions of the Company s Tuition Reimbursement Policy: COURSE COURSE NO. SCHOOL to Begin: to End: Tuition Fee: Subtotal: $ Registration Fees: Subtotal: $ Laboratory Fees: Subtotal: $ TOTAL FEES (Tuition, Registration and Laboratory): TOTAL $ The above courses are: (Please check) GED Adult Continuing Education Vocation Distance Learning 6

7 Undergraduate Graduate I am enrolled in a degree program: Yes No If yes, please answer a.) and b.) below: a.) Type of program b.) started expected to finish If my application for Tuition Reimbursement is approved for payment, I would like my reimbursement to be: Direct deposited: (Must already be set up for payroll or AP direct deposits) A real check mailed to my home address on file: (Change address with ED at ext. 2929, if needed) Team Member s Signature Employee Development Coach Sr. Manager of Employee Services Sr. Director of Employee Services Chief Financial Officer (CFO) 7

8 TUITION REIMBURSEMENT REPAYMENT AGREEMENT This is a Tuition Reimbursement Repayment Agreement ( Agreement ) between Beaulieu Group, LLC (the Company ) and ENTER NAME ( you ). You acknowledge that the Company may reimburse you for costs associated with your Tuition Reimbursement in connection with your position with the Company. You will be eligible for tuition reimbursement of costs for the following course(s) beginning and ending. (1) (2) (3) By signing this Agreement, you agree that if you voluntarily resign or are terminated for cause, any monies paid to you or on your behalf by the Company, within the last eighteen (18) months from date of termination, in connection with your tuition reimbursement, must be repaid to the Company. The full amount of the reimbursements must be paid within thirty (30) days of your separation from employment with the Company. You also agree that if you fail to timely make such required repayment to the Company, you will repay the Company for all costs incurred in any efforts to obtain such repayment, including attorney s fees, in addition to repayment of the owed tuition reimbursement monies. By signing this Agreement, you authorize the Company, to the fullest extent allowable by law, to deduct and withhold this repayment from any amounts it owes to you (including, without limitation, salary, bonuses, and paid time off, and expense reimbursements) upon your separation from employment with the Company. To the extent that any amount is still due to the Company after these authorized deductions, you agree to repay the Company the remaining balance due within thirty (30) days of your separation from employment with the Company. Tuition Reimbursement expenses paid under this policy will be excluded from income in accordance with section 127 of the Internal Revenue Code of 1986, as amended, and applicable regulations. Nothing in this Agreement should be construed as a guarantee of continued employment or to otherwise alter your at-will employment with the Company in any way. Both 8

9 you and the Company have the right to terminate your employment at any time, with or without cause or advance notice. TUITION REIMBURSEMENT REPAYMENT AGREEMENT ENTER NAME BEAULIEU GROUP, LLC Signature Printed Name Signature Title 9