Payroll Information

Flexible Spending Account Program
Credit Union
Direct Deposit
Deferred Compensation Plan



Flexible Spending Account Program

A Flexible Spending Account (FSA) allows employees to pay for certain reimbursed healthcare and dependent care expenses with before-tax dollars. For many participants, the FSA plan provides a better tax benefit than is available to an individual taxpayer.

The flexible spending account program permits each employee to set aside up to $5,000 pre-tax dollars for dependent care expenses and up to $2,550 for medical expenses not reimbursed. Money that is reimbursed to you for paid expenses is tax-free. You pay no state, federal, social security, or Medicare taxes on that money. You may only enroll during the open enrollment each December. For additional information, contact the City of Waltham account representative with Sentinel Benefits at 1-888-762-6088, e-mail or visit their website.
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Credit Union
Merrimack Valley Credit Union serves the financial needs of the City of Waltham employees and their families. They are committed to helping members achieve financial well-being through quality products and services with personalized service.

If you need assistance or have questions, https://www.mvcu.com/waltham

600 Main Street
Waltham, MA 02452
Phone: (781) 736-9965
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Direct Deposit
Paychecks are dispersed each Wednesday for the previous week. Employees have the opportunity to have their net pay automatically deposited into an account, at the bank of their choice. The bank must be a member of the Automated Clearing House.  All forms are available at the Human Resources Department. Once enrolled, if you change banks, please advise your department payroll clerk.
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Deferred Compensation Plan
This plan permits you, on a voluntary basis, to authorize a portion of your salary to be withheld and invested for payment to you at a later date. Neither the deferred amount nor earnings on the plans are taxable until they are actually distributed to you. Further information can be obtained by contacting the plan client account managers identified by information in the orientation material.

The City of Waltham offers:
Smart Plan – administered by Great West – 877-457-1900 or www.mass-smart.com
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