Education Assistance
The company recognizes that educational development is important and should be encouraged. The Tuition Reimbursement plan was established to provide an opportunity for employees to obtain additional education or training in order to increase their effectiveness in their present jobs and to prepare for future advancements within the company.
Tuition reimbursement benefit is available to ALL full-time employees who have one year continuous service and meet performance standards.
Tuition reimbursement up to the IRS annual maximum of $5,250 per year will be available to all full-time employees who obtain pre-approval for their coursework and receive a passing grade of “C” or better. If the course is “pass/fail,” a final grade of “pass” is acceptable. Expenses such as textbooks and lab fees are eligible for reimbursement. The annual maximum is based on the calendar year, January through December.
If an employee leaves the company within two years of the latest date of reimbursement, the amount of the reimbursement will be considered only an advance. Accordingly, the employee will be obligated to immediately reimburse 100% if leaving the company within one year of course payment, and 50% if leaving the company within one to two years of course payment.