Benefits-eligible faculty and staff hired after January 1, 2012 should see a new entry on their paycheck shortly after passing the one-year anniversary of their hire date. The entry will appear in the "Employer Paid Benefits" portion of their check and will show the value of contributions made to their Retiree Health Savings Plan (RHSP).

UVM established the RHSP to help individuals pay for qualified healthcare expenses during retirement, and the University will make regular tax free contributions to the plan for benefits-eligible faculty and staff hired on or after January 1, 2012. These payments will begin shortly after their one-year anniversary and do not require individuals to make personal contributions in order to receive the UVM contribution.

Earnings that accumulate in a Retiree Health Savings Plan grow tax free. When you access your RHSP to pay for eligible healthcare expenses in retirement, those reimbursements are also tax free. As a result, this plan has the benefit of helping you to save and pay for healthcare expenses in a tax-advantaged way.

For more information on eligibility and vesting, see the HRS website. Questions about the RHSP? e-Mail HRSinfo@uvm.edu.