Ohio Admin. Code 3364-25-19

Current through all regulations passed and filed through November 4, 2024

Section 3364-25-19 - Relocation allowance for new employees

(A) Policy statement

To remain competitive and attract talent to the organization, t he university of Toledo may provide funds to assist new employees with the cost of relocation, including moving company costs, transportation and temporary housing.

(B) Purpose of policy

The policy sets forth the procedure for payment of new employee relocation expenses. By establishing an agreed upon amount upfront, the organizational unit will maintain budgetary control of the expense. The intent of this policy is for the relocation of employee's household items. This policy is not intended for the relocation of lab equipment or start-up expenses.

(C) Procedure

Full time faculty and professional administrative staff, including coaches, are eligible for this stipend. IRS guidelines require that the distance between the old home and the new place of work be at least fifty miles greater than the distance between the old home and the old place of work. If the distance test is not met, then approval will not be granted.

The payment amount for full time faculty and professional staff should not exceed eight thousand five hundred dollars and should be negotiated with the employee during the hiring process. The agreed upon amount should be based on the lowest of three moving quotes from IUC preferred vendors, budgetary and market conditions, and disclosed in the employees offer of employment.

The employee will receive the payment in their paycheck. This payment is taxable as ordinary income and all applicable taxes will be withheld. The amount will be reported on the employees form W-2.

In special cases, the provost, or a vice president, may grant exceptions to this policy. Such exceptions will be in writing. The president will approve all relocation stipends for members of the senior leadership team.

(D) Guidelines

When determining a fair, mutually agreed upon, stipend for the employee's relocation, the following should be taken into consideration:

(1) Has the employee received three moving quotes from one of the university's preferred vendors?

Click this link for an updated list of university preferred suppliers.

(2) Does the relocation involve only the employee or a family?

(3) Is the employee moving across the country or within the state?

(4) Does the employee need temporary housing for a period of time?

(5) Does the employee wish to have house hunting trips and airfare/hotel for spouse?

Per current (2019) tax law, relocation stipends are taxable as ordinary income and will be reported on the employee's W-2. Applicable federal, state and local taxes will be withheld from this stipend payment. Grossing up the stipend to cover taxes is strictly prohibited.

Ohio Admin. Code 3364-25-19

Effective: 7/1/2019
Promulgated Under: 111.15
Statutory Authority: 3364
Rule Amplifies: 3364
Prior Effective Dates: 05/31/2018