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News Link - November 21, 2012

CNM Closed Nov. 22-25 for Thanksgiving Holiday

All offices will be closed and no classes will be held from Thursday, Nov. 22, through Sunday, Nov. 25, for the Thanksgiving holiday weekend. CNM will be conserving resources and powering down all heating systems on Thursday and Friday – all buildings and campuses will be inaccessible during this time. After the break, CNM will return to its normal schedule on Monday, Nov. 26.

CNM wishes you and yours a safe and happy holiday weekend!

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.

Enrollment for Flexible Spending Account Extended to 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 An amount of your choosing is withdrawn from your paycheck each pay period for the account.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. If you have any questions, please contact Human Resources.

For Your Information

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.

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.

Be Aware That 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.

CNM Video Captures Joy of TRiO’s 10th Anniversary Celebration
Take a look back at TRiO’s 10th Anniversary Celebration and hear from TRiO graduates, TRiO employees and CNM Governing Board members who attended the ceremony last month. Click here to access the video on YouTube.

Costco Offers CNM Community Discount for New Members
Costco is offering the CNM community a $10 cash card when you sign up as a new member for a one-year membership, which costs $55. For an executive membership, which costs $110, CNM community members receive a $20 cash card when you sign up as a new member. You just need to print out a flier and take it Costco with you to take advantage of the offer. To obtain the flier, or to view other discounts for the CNM community, click here.

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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