LOOK THROUGH OUR FAQ FOR ANSWERS
We understand that each individual consultant is vital to Odyssey’s success which is why we offer some of the best compensation and benefit opportunities the industry has to offer. Here are some of our most frequently asked questions about Odyssey and consulting.
Questions About Benefits
You can continue most group insurance coverage by electing COBRA coverage.
Yes, you can contribute up to an annual max of $3400.00 for single or $6750.00 for family pretax. You can change your contributions per paycheck by logging in to Paychex.
You may enroll using Paychex.
Insurance is effective the 1st day of the month that coincides with or follows 30 consecutive days of employment.
In order for your benefits to start on time, you must submit your insurance elections no later than noon the day before your coverage begins. Elections are made in Paychex.
We have two: Insurance Choice Plan AG2L (PPO) and Insurance HSA Choice Plan AGYA. Our group medical policy number is 902195.
Odyssey offers medical, dental, vision, basic life/ad&d, long term disability, short term disability, and voluntary life insurance for employee, spouse and child.
All full-time W-2 employees who consistently work a minimum of 30 hours per week are eligible to enroll in the insurance benefits.
Your insurance will end the last day of the month in which your contract employment ends, with the exception of your supplemental insurance, which ends on your termination date.
Medical, dental, and vision insurance coverage may be continued under COBRA.
You will receive COBRA information via certified return-receipt no later than 30 days after your insurance ends.
Your benefits will continue until the last day of the month in which your contract employment ends. If your contract is extended or if you start a new contract in the same month in which your previous contract ended, your insurance will continue uninterrupted. If you do not start a new contract until after your insurance ends, you will be offered COBRA coverage.
Because our group health plan is part of a cafeteria plan, there are only two occasions when you can elect to participate in our group health plan:
- Change in status (marriage, divorce, birth, adoption, change in work status, spouse loses coverage, etc.)
- Open enrollment (held throughout the month of April of each year for a May 1 effective coverage)
- If you experience a change in status, you must notify HR at 972-767-6700 within 30 days of the event.
Our 401(k) Plan is available to all full-time W-2 employees.
Odyssey does not require participants to close out their accounts upon ending contract employment. You may therefore either (1) leave your 401(k) account active, or (2) close your account and transfer your monies to either an IRA, another qualified 401(k) plan or cash out.
Employees can enroll after 30 days of employment using Paychex.
You can change payroll contribution percentages for the 401(k) at any time using Paychex.
Odyssey Information Services Inc. 401k Plan – 197114
Vested 50% after 1 year and vested 100% after 2 years of employment. Odyssey will match 25 cents on the dollar up to 6% of salary.
Only full-time W-2 salaried employees are eligible for PTO. Vacation days are accrued at a rate of 7.33 hours per month for your first five years of employment with Odyssey. After you have worked as a salaried employee for over 5 years, you will accrue 10.66 hours per month. Sick time is accrued at a rate of 4 hours per month. An employee can only use time which has been accrued up to the current date of the request. Any holiday, vacation, or sick time which is taken, but has not been accrued, may be withheld from your paycheck, including your final paycheck, if terminated. Monthly accrual hours will be pro-rated based on your contract start and end date.
Hourly employees are not eligible for PTO accrual.
Questions About Payroll
You must provide the following contact information to your child support agency and they will send the paperwork to us (Odyssey Information Services, Inc., 5801 Tennyson Parkway Suite 200, Plano, TX 75024, Attention: Payroll) You will be responsible for payments on your own until you see the garnishment being withheld from your paycheck.
Address changes should be made using Paychex.
The Social Security taxable wage limit for 2017 is $127,200 (in 2016 was $118,500.00). Medicare does not have a taxable wage limit, for employees, the 1.45% tax rate increases by .09% on all taxable wages over $200,000.00. Please remember that cafeteria plan deductions are exempt from these limits, so you must subtract these deductions from your gross pay to arrive at your gross/taxable pay for Social Security.
Log on to the Paychex website; click the Human Resources tab; click the Compensation tab; click Tax Status. Fill out new tax status information and submit.
No later than 3 calendar days after the pay-period has concluded.
Payday is twice a month, on the 15th and the last day of the month. If a payday falls on a weekend, we aim to have your paycheck arrive the Friday before. Please note deposit arrival is subject to individual bank processing.
Twice a month- on the 15th and last day of the month. There are a total of 24 paychecks a year.
Submit your timesheet by the deadline. We track unapproved time sheets internally and will follow up with your manager if necessary.
Direct deposits show up to a bank as a “Deposit in Transit.” Each bank’s computer system is updated differently. Some banks will show deposits in transit, and some will not. If a payday has passed and your paycheck has not arrived, please contact our Payroll department at 972-767-6700.
Both cafeteria plan deductions and 401(k) deductions are taken pre-tax, however the taxes they affect may differ. 401(k) deductions are only exempt from federal and state withholding taxes. Cafeteria plan deductions are exempt from both federal and state withholding and from both Social Security and Medicare taxes.
Corporate direct deposits are transmitted by Odyssey on Tuesday and will be in your account by the following Wednesday.
Please reach out to our Payroll Department, to assist.