The Bloomberg BNA 401(k) Plan is a defined contribution retirement plan that helps you save through pretax and after-tax contributions from your salary. Regular full-time employees and regular part-time employees working 20 or more hours per week are eligible to participate in the plan. Employees may begin contributing to the plan on the first of the month following the completion of 30 days of continuous employment. Participants may invest their 401(k) contributions in a variety of investment funds.
Bloomberg BNA will contribute 1% of base salary and match 50% of the amount contributed by the employee up to 8.5% of base salary. Participant and matching contributions vest immediately. The plan offers loans and hardship distributions.
Bloomberg BNA offers flexible spending accounts (FSAs) that enable employees to pay for certain dependent care expenses and/or certain health care expenses with pretax dollars, thereby reducing taxes and increasing take home pay. Employees may set aside up to $2,550 per year in the health-care FSA and up to $5,000 per year in the dependent care FSA.
Bloomberg BNA reimburses employees for the full cost of tuition, books, and related fees for approved course(s), to a maximum of $2,400 per quarter or semester. Employees must have been employed for at least six months to use this benefit.
Bloomberg BNA is able to provide a limited amount of free parking to Arlington employees in the Bloomberg BNA garage.
Arlington employees who do not have free parking in the garage, Bloomberg BNA provides either $105 per month ($1,260 per year) in pretax Commuter Benefits that employees may use on Metro and other public transportation systems in the region; $85 per month ($1,020 per year) toward a Parking Reimbursement Account (PRA) from which enrolled employees may be reimbursed for their work-related parking expenses at commercial parking facilities; or $30 per month ($360 per year) toward a bicycle subsidy from which enrolled employees may be reimbursed for the storage, repair, purchase, or improvement of a bicycle used for work.
Bethesda employees who choose not to park in the Bethesda garage also may enroll to receive $105 per month ($1,260 per year) in pretax Commuter Benefits that they may use on Metro and other public transportation systems in the region, or $30 per month ($360 per year) toward a bicycle subsidy from which enrolled employees may be reimbursed for the storage, repair, purchase, or improvement of a bicycle used for work. Bethesda employees are not eligible to participate in the PRA. Regionally based employees may contribute pretax dollars of their own into either a Commuter Benefits or Parking Reimbursement Account.
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This Bloomberg BNA report is available on standing order, which ensures you will all receive the latest edition. This report is updated annually and we will send you the latest edition once it has been published. By signing up for standing order you will never have to worry about the timeliness of the information you need. And, you may discontinue standing orders at any time by contacting us at 1.800.372.1033, option 5, or by sending us an email to firstname.lastname@example.org.
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