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News Link - November 29, 2012

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Still Time to Make a Difference – Donate to Leading the Way

The deadline to donate to the CNM Foundation's Leading the Way employee giving campaign is nearing, but there is still time to participate. With a donation of $24, which can be payroll deducted in increments of $1 per paycheck throughout 2013, donors will receive a CNM hooded sweatshirt as a “thank you” for donating. The pledge form and informational flyer is attached. Please contact Marshall Quam at mquam2@cnm.edu or 224-4686 if you have questions.

Legislature to Consider Changes to ERB

Employees should note that changes to the New Mexico Educational Retirement Board pension plan could be implemented in July 2013, including increases in employee contributions that could impact your take-home pay. The New Mexico Legislature will consider changes aimed at making the retirement fund more solvent during the 60-day legislative session that begins Jan. 15. For more information, visit www.nmerb.org.

Tax Changes Could Affect Paychecks in January

Several tax cuts are set to expire at the end of the year unless the United States Congress extends them, as well as a previous cut to Social Security contributions. A two percent cut in Social Security contributions is set to expire at the end of the year. The payroll withholding tax could return to 6.2 percent, in place of the current 4.2 percent. Please note that these changes could impact your net take-home pay starting in January if the cuts are not extended by Congress. More information about the tax cuts that are set to expire at the end of 2012 can be viewed here.

Enrollment Deadline for Flexible Spending Account Is Friday, Nov. 30 – Plan Can Save You Money

By joining CNM’s Cafeteria Plan (Flexible Spending Account), you can guarantee tax savings for yourself, and therefore keep more money in your own pocket. The plan is a system in which employees can allocate money from their paycheck before taxes are taken out and have the funds put into an employee account that can be used to pay for medical expenses throughout the year. An amount of your choosing is withdrawn from your paycheck each pay period for the account. You simply submit receipts for reimbursement. The deadline to apply for the Cafeteria Plan has been extended to Friday, November 30. The plan goes into effect January 1, 2013.

Your payroll taxes are calculated at about 25 percent of your pay. When you put some of your salary into the Cafeteria Plan, that 25 percent stays in your pocket instead of going to taxes. How much would you save?


If you defer this amount annually:

You will save approximately this amount on taxes:

$2,500

$625

$2,000

$500

$1,500

$375

$1,000

$250

$500

$125

 

For more information, please contact Human Resources at 224-4600.
If You’re Currently in Cafeteria Plan, You Must Incur Expenses by March 15, 2013
If you are participating in CNM’s 2012 Cafeteria Plan Flexible Spending Accounts, please note that you must incur related expenses no later than March 15, 2013, or the expenses will not be eligible for reimbursement from your account. All 2012 Flexible Spending Account reimbursement requests must be submitted to our third party servicer, The Cafeteria Plan Company, by March 31, 2013.

Toy and Winter Coat Donation Drive Organized by Students

CNM’s Executive Council of Students (ECOS) has organized a donation drive to benefit area children. If you have new, unopened toys or gently used kids’ winter coats, you can donate them at the CNM Connect location at any campus. The drive will run through Dec. 13. ECOS has partnered with KOAT’s Koats for Kids program. Once ECOS collects all the donated coats at CNM, it will provide them to KOAT, which will clean the coats and distribute them. Donated toys for boys and girls through this drive will be provided to various local charities in the community. Toys donated at the Rio Rancho Campus will go to the Rio Rancho Police Explorers Post, which hosts an annual holiday event for underprivileged children. For more information, email smartos@cnm.edu.

Main Campus Library Extends Hours for Finals Week

The Main Campus Library will extend its hours to 7:30 a.m. to 11 p.m. from Dec. 3-6 to accommodate students preparing for finals. Tutors from the Assistance Centers for Education will also be available in the library during the extended hours. Free coffee and cookies, provided by Sodexo and CNM Libraries, will be available while supplies last beginning at 8:30 p.m. from Dec. 3-6.

Make Sure Your Address on File Is Correct for W-2 Mailings in January

In January, W-2 tax forms will be mailed to your address on file in Payroll. Please verify that your address on file is correct by logging in to myCNM. Click on the “Employees” tab, then click on the “Personal Information” link under “Online Services” to access your address. Under “Online Services,” you can also click on “Tax Forms” to review your W-4 payroll withholdings. If you would like to change your payroll withholdings for 2013, visit the Payroll Office in the A Building.

Employees Invited to Holiday Meet & Greet Dec. 11

All employees are invited to attend a Holiday Meet & Greet being hosted by President Winograd and CNM Governing Board members on Tuesday, Dec. 11, from 3-5 p.m. on Main Campus in the Student Resource Center Richard Barr Boardroom.

For Your Information

Central Parking Lot on Main Campus Temporarily Closed Dec. 7-12
Due to the installation of new lighting in the Central Parking Lot, the lot will be temporarily closed from Dec. 7-12. Those with parking permits for the Central Lot will be able to park in any other lot on Main Campus. All lots will be open beginning Dec. 7. For more information, call 224-4636.

Say Farewell to Diane Zimmerly During Retirement Celebration Dec. 7
Stop by to wish Diane Zimmerly well during her retirement celebration on Dec. 7 from 2:30-4 p.m. in the Montoya Campus Art Studio (I Building, Room 110). Diane has served as the Montoya Campus art technician since 2006.

Business Office Renovations Complete
The Business Office renovations have been completed, and staff members are moving back to their regular offices next week.  After Dec. 5, Payroll, Accounts Payable, and Contracts & Grants will be located in the A Building, Room A-30.  The comptroller and administrative coordinator will be returning to the location of their previous office, which is now designated A-32.  All phone extensions will remain the same.  If you need assistance with an accounting issue or finding a staff member during the move, please visit the front desk at A-30, or call 224-4457.

Budget Office Staff Will be Visiting Control Agents
Budget Office staff will soon be scheduling visits to meet with department control agents and support staff.  Topics of discussion will include departmental budget status, FY13 budget-related timelines and general budget support.

About News Link

News Link is a weekly e-newsletter provided by the Marketing and Communications Office for CNM faculty and staff. To submit an item for inclusion, please e-mail the Marketing and Communications Office. Please include “News Link” in the subject line of the e-mail. The deadline for News Link is 3 p.m. Wednesdays.

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