Subject: Annual Re-Enrollment in the Dependent Care Reimbursement Fund
Dear Dependent Care Reimbursement Fund Participant,
The New England Work and Family Committee would like to remind all participants that in order to continue participating in the Dependent Care Reimbursement Fund, you must re-enroll in the program by May 30, 2021.
To re-enroll you will need to complete a new application and submit a copy of your 1040 federal tax return, including 2441 form, for year 2020 and your W-2 for year 2020 and your spouse’s 1040 and W2 for 2020 if applicable. Please void out social security numbers. If you have any question please feel free to contact the New England Work and Family Staff.
Following are some, but not all, eligibility requirements:
Total household income must be less than $150,000.
Dependents must be listed on your tax return.
You pay for care in order to work.
You and your spouse must work during the hours you need care.
Provider must be one of the following: legally operating, licensed, a relative or appropriate in-home care.
You will need to go to www.NetBenefits.com/Verizon to view your Stock Together award. You must activate your account once you receive your first grant. The terms and conditions of your Stock Together award are set forth in your Grant Notice, which you can access by logging into your Fidelity account.
I got Stock Together. What will I receive?
Eligible employees will receive an award of RSUs in a fixed dollar amount based on their job level, work location, and scheduled hours on the grant date. The award value for wireline associates is based on eligibility to participate in a Verizon pension plan.
The actual number of RSUs each employee will receive will be determined by dividing the employee’s fixed dollar amount by the closing price of a share of Verizon common stock on the grant date. For example, if your award amount is $2,000 and Verizon’s closing price on the grant date is $60.00, you will receive 34 RSUs – $2,000 / $60.00 = 33.333 units rounded up to the nearest whole unit = 34 RSUs. Eligible international employees will receive a cash bonus opportunity that will be based on and will track the value of RSUs.
The actual value of your payout depends upon the closing price of Verizon’s common stock on each of the vesting dates in year 1, year 2, and year 3, subject to any tax withholding obligations and legally required deductions.
As a result of the current COVID-19 outbreak, through January 31, 2021 certain Associates designated by management by title, location and work group shall home garage their Company-provided vehicle. The wages, benefits and other terms and conditions of employment of each Associate designated to home garage will continue to be governed by the applicable collective bargaining agreement.
Each Associate designated to home garage will begin their work tour when they dispatch from their home and will end their work tour when they close the last job of the day from their home. While home garaging, the Associate must comply with all Company rules and policies.
This agreement is without prejudice or precedent to any position that any party to this agreement may wish to take in any other proceeding involving any matter. This agreement, and the underlying facts related to this agreement, shall not be cited by any party in any proceeding in any forum including, but not limited to, any arbitration or matter before any federal, state or local court or administrative agency, involving any matter, except as necessary to enforce the terms of this agreement.