Loved Ones Fund
TCWGlobal offers a generous contribution of up to $4,500 to your Dependent Care FSA (based on length of employment and age of dependent). A participant making under $130,000 a year will be eligible for the employer contribution if they have day care expenses associated with a dependent under the age of 13 or a disabled family member regardless of age if they meet the criteria noted above.
The employer's contribution is determined based on the age of the dependent child:
- Children under the age of 6: Follow the Puppy Pals guidelines.
- Children aged 6 and older: Follow the Top Dog guidelines.
The employer contribution will be deposited on a monthly basis. Please see below for the employer contribution tier structure:
"Puppy Pals": Child(ren) is under 6 years old
Years of service
|
Annual Employer Contribution
|
|
Upon hire after 30 day waiting period
|
$2,500
|
|
2 yrs. +
|
$3,500
|
|
3 yrs. +
|
$4,500
|
*Completed years of services will be calculated during OE for the upcoming plan year
"Top Dog": Child(ren) is 6-13 years old
Years of service
|
Annual Employer Contribution
|
|
Upon hire after 30 day waiting period
|
$625
|
|
2 yrs. +
|
$875
|
|
3 yrs. +
|
$1,125
|
*Completed years of services will be calculated during OE for the upcoming plan year
Multiple Children Policy
If a parent has multiple children, and at least one is under the age of 6, they will receive the Puppy Pals benefit. Once all children are over the age of 6, the benefit will transition to the Top Dog category.
Limitations
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The maximum annual employer contribution you can receive based on years of service and eligibility will be up to $4,500. Employees making over $130,000 annually are not eligible to receive employer contributions towards the FSA dependent care benefit.
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Employees may also contribute into the plan on a pre-tax basis. The maximum contribution between employee and employer contributions per calendar year is $5,000, or $2,500 if married filing separately.
