Spending account available
for dependent care
-- HRD Office Benefits Administration Services, October 2003

Eligible state employees may set aside pre-tax money for dependent care.

Enrollment in the Dependent Care Spending Account program is open through Nov. 21. The program offers an alternative to filing a tax credit for dependent care expenses.

This program allows state employees to set aside up to $5,000 for dependent care during calendar year 2004. The amount of money specified is deducted from the employee's gross wages each pay period. Account holders can then withdraw funds, tax free, as often as every two weeks.

State employees might benefit from participating in the program if all of the following apply:

They have a child or adult dependent living with them.
They pay someone for their dependent's care while they
   are at work.
Their adjusted gross income is subject to federal and
   state income taxes.

For more information and an application, visit www.ohio.gov/dependentcare or see your payroll officer.