Tax-deferred plans

Our employees can keep more of their paycheck in-hand through these tax-deferred programs.

Benefits overview

The benefits of working for the Department include enrollment in the state pension plan, health plans, access to tax-deferred programs and more.

​Tax-sheltered annuity program

Employees of the Department of Education are eligible to participate in the Tax-Sheltered Annuity Program offered by the Department as provided in Chapter 303, Hawaii Revised Statues and Section 403(b) of the United States Internal Revenue Code. Employees may make pre-tax contributions through payroll deductions and provide supplemental income to regular retirement benefits. Contact the OHR-Employee Benefits Unit at 441-8311 for more information.

State's deferred compensation plan

Known as the Island $avings Plan, eligible state employees may participate in this voluntary pre-tax retirement savings plan offered by the State as authorized under Section 457 of the United States Internal Revenue Code and Chapter 88E of the Hawaii Revised Statutes. For more information, visit the Island $avings Plan website or view an informational flyer​.

Flexible spending account

The State’s Island Flex flexible spending account offers two ways to reduce Employees’ federal and state withholding taxes and social security taxes:

  1. Medical Flexible Spending Account (Medical FSA) allows Employees to pay eligible out-of-pocket unreimbursed health care expenses on a before-tax basis.
  2. Dependent Care Flexible Spending Account (Dependent Care FSA) allows Employees to pay for eligible dependent care expenses on a before-tax basis.

Employees may contact the State’s third party administrator, Comprehensive Financial Planning, Inc., at 596-7006 (Oahu) or 877-550-5552 (Neighbor Islands) or visit their website.

Part-time employees

Chapter 88F of the Hawaii Revised Statutes authorizes the State to implement this PTS Deferred Compensation Retirement Plan for part-time, temporary, and seasonal/casual employees of the state, who are not eligible to participate in the state’s ERS. Employees’ contributions to this PTS Plan replace contributions to Social Security. For more information, Employees may contact the Plan’s third party administrator Comprehensive Financial Planning Inc. at 596-7006 (Oahu) and 800-600-7167 (Neighbor Islands) or visit their website.

Flex Park

Allows employees to deduct eligible parking fees from pre-tax money. Eligible parking fees are those for parking assignments in a lot administered by the Department of Accounting & General Services. For more information, visit the Department of Human Resources Development site.

Contact Information

Employee Benefits Unit

Phone: 808-441-8311

Email: employee_benefits@hawaiidoe.org

Strategic Plan 2017-2020

How do I...?

Go

View all FAQ's

Related Downloads

Tweets