Human Resources Policies
HR100 Employee Assistance Fund
Policy Status:Under Review>
Subject Matter Expert:
Policy Steward:Vice President for Human Resources>
POLICY'S INITIAL DATE: September 06, 2012
THIS VERSION EFFECTIVE: September 06, 2012
To provide the criteria under which an employee with exigent financial circumstances can qualify and be eligible to receive payment from the University Employee Assistance Fund to assist with a wide range of personal or family hardships.
The fund was created as an endowment with its annual yield used to support employees who may be in need.
Circumstances may include, but not necessarily be limited to, family tragedies; destruction of home or property by fire or other disaster; short-term disabilities where income is curtailed; uncompensated funeral expenses; catastrophic or unusual medical expenses not otherwise covered by insurance; and any other temporary hardships beyond the employee's control.
Expenditures from the fund are made by the Vice President for Human Resources, in consultation with a small representative committee. Committee members will maintain the highest degree of confidentiality. 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 expected that employees requesting assistance from the fund will have sought assistance from other sources external to the University.
If there is no other source of funds available, employees may initiate the process by submitting the application, along with any other written request to: Vice President for Human Resources, The 331 Building, Suite 136, University Park, PA, 16802 or email firstname.lastname@example.org.
The reason for the request, the amount being requested and sufficient documentation to support the request must be provided.
With limited funds available, the level of support may be modest in relation to overall need.
The University hopes that the establishment of this fund will encourage employees and other members of the Penn State community to make further contributions to help build the endowment. While any payment made to an employee is not treated as a loan and therefore does not need to be paid back, employees, who are interested, are encouraged to contribute to the fund at a later time when their financial situation would permit their doing so.
As required under the tax law, awards will be treated as University compensation subject to applicable tax withholding.
Date Approved:September 6, 2012>
Date Published:September 6, 2012>