TSS - April 2022 News and Announcements

April 2022 News and Announcements

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First Published  :Thu Jun 23 18:10:53 GMT 2022
Last Modified  :Thu Jul 07 13:58:23 GMT 2022
Last Published  :Thu Jul 07 13:58:23 GMT 2022
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Primary Information

    4.27.2022  Annual Review Information Available in Access Tufts

    The annual Performance Review and Merit Pay process is now underway. Information about the annual Performance Development Program and Merit Pay review process is available in Access Tufts.

    2022 Merit Program

    The university has a pay for performance compensation philosophy. Our managers have the discretion to allocate merit increases based on performance with higher increases to those with the highest levels of performance. Managers must ensure spending is within their budget. The university has planned for a merit pool of up to 4%.

    Employees Covered By Collective Bargaining Agreements

    For employees represented by TUPA, SEIU, and Unite Here, please refer to those agreements for information concerning annual increases.

    Performance Evaluation System

    Performance reviews can be completed online in Employee Self Service.  Managers can write the Performance Review in the online system and employees then can review, comment and electronically sign their reviews.

    Questions

    Please contact your Manager and/or HR Business Partner if you have any questions regarding this information or process.



    4.27.2022 - Summer Employment (Student Employees)

    Hello Department Admins!
    If you can believe it, summer is already on the horizon. To ensure a smooth transition into the season, we’d like to share some important information and housekeeping items about student employment. 

    Housekeeping

    Terminate student jobs in eServe
    • If your department is currently employing a student worker, but this position is no longer needed, terminate the student job in ePAF. There is no approval flow, the termination happens upon submission. This is especially important for graduating students: Another department may wish to hire the recent graduate as a temporary worker, but cannot do so if the graduate has an active student job.
    Need a refresher on how to terminate student jobs in eServe? Here it is! 
    Terminating Student Jobs in eServe (ePAF) 

    Planning for Summer Student Employment

    Summer employment for students who will graduate in May 2022
     
    • After the student graduates but continues to work for your department, you must terminate the student job in ePAF and rehire as a temporary worker. This is due to a recent change in benefits laws in MA. 
    • You can submit the Temporary Hire Request now so that the background check can be started. However, we cannot enter the hire until the background check is complete and the student job has been terminated in ePAF.
    • Temporary workers are paid hourly and are subject to state overtime rules. If your student was previously paid semi-monthly, you need to adjust to an hourly rate and a weekly time-reporting process.
    Want to learn more about the Temp Hire process and the steps? We've got you covered!
    Temporary Hires on Tufts Payroll 

    Summer employment for students who do not graduate
    • No action is required, the student job will continue through the summer. 
    Incoming student employment
    • If you intend to hire an incoming student, they need to be hired as a temporary employee until they start their academic career at Tufts. At that point, you need to terminate the temporary employee role and rehire them as a student employee in the fall.
    Summer employment and temporary workers working outside of Massachusetts
    • Student employees cannot currently change their work location on their W-4. If they would like to discuss changing their work location and taxation, they need to email TSS@tufts.edu with the request.
    • Temporary employees can change their work location on their W-4 in states where Tufts is registered. If Tufts is not registered in a state, TSS will withhold MA State Tax.
    • Student Employees and Temporary workers cannot work outside of the United States

    04.13.22

    This communication is to inform all Tufts University employees of changes planned for the University-Funded Retirement Plan – 401(a) and Self-Funded Retirement Plan – 403(b). These changes have been designed by the Retirement Investment Advisory Committee which is comprised of Tufts University faculty, staff, and administration.  The goal is to enhance the future performance of your retirement savings with low fees and maintain standards of management and performance compliance. These changes will impact investment options and plan recordkeeping fee structures, but in no way change the features of the 401(a) or 403(b) Plans. No action is required by you.

    Effective May 18, 2022, several current investment funds will be replaced as follows:

     
    THESE FUNDS……WILL BE REPLACED WITH THESE FUNDS
    American Beacon Stephens Mid-Cap Growth Fund R5 Class
    (Ticker:  SFMIX)
    William Blair Small-Mid Cap Growth Fund Class R6 (Ticker:  WSMRX)
    Baron Small Cap Fund Institutional Class
    (Ticker: BSFIX)
    William Blair Small-Mid Cap Growth Fund Class R6 (Ticker:  WSMRX)
    DFA U.S. Small Cap Value Portfolio Institutional Class
    (Ticker:  DFSVX)
    Westwood Quality SMidCap Fund Institutional Class (Ticker:  WHGMX)
    Fidelity Contrafund – Class K
    (Ticker:  FCNKX)
    Fidelity Growth Company Fund Class K
    (Ticker:  FGCKX)
    Vanguard Selected Value Fund Investor Shares (Ticker: VASVX)Westwood Quality SMidCap Fund Institutional Class (Ticker:  WHGMX)

    Changes in Recordkeeping Fees
    Lower fees can make a difference over the life of your account. The Plan fees you pay are being reduced in the coming months.  Watch future announcements for details.

    Important Dates

    Without any action by you, if you have a current balance or are directing future contributions to these investment options, they will be transferred to the investment options listed above when the stock market closes on May 18, 2022. If you want to take action and make different investment elections for current balances or future contributions, please contact Fidelity at 800.343.0860, or go online to www.netbenefits.com/tuftsuniversity

     
    DateWhat Happens
    Wednesday, May 18, 2022 (4 pm ET)Any account balances remaining in non-continuing funds will be transferred automatically to the similar fund as shown in the table above.
    Thursday, May 19, 2022The new funds will take effect and discontinued funds will no longer be available as part of the core Tufts University Retirement Plans funds*.
    * Participants can invest in over 5,000 mutual funds by using a Fidelity BrokerageLink account.

    To Learn More: Attend an information session about this and related topics.  Fidelity Investments and HR Benefits will be presenting an overview of the Tufts University Retirement Plans and investment basics at the following dates and times:

     
    DateTimeLocation
    Thursday, May 510 - 11 a.m.Virtual Live session
    Monday, May 92 – 3 p.m.Virtual Live session
    Wednesday, May 18Noon – 1 p.m.Virtual Live session

    Register at www.Fidelity.com/schedule.   At the event page, you’ll need to enter “Tufts University” and choose “Virtual Event” from the drop down option.

    If you have additional questions about your Tufts University Retirement Plans or these changes, please contact TSS via email at TSS@Tufts.edu or call 617.627.7000.


    04.08.22

    The annual Fiscal Year End 2022 cutoff schedule can be found here.  In addition, a Fiscal Year End Outlook Calendar has been created to which you can subscribe.  For directions on adding the calendar to your existing calendar, read this page

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Keywords

    annual review, merit program, summer student employment, change in investment funds, FY22 cutoff schedule