This week's Dos and Don'ts starts with information about the recent Social Security Tax Executive Order.
Exelon Not Deferring Social Security Taxes
The Executive Order signed on Aug. 8, 2020, provided employers the option to defer the withholding of Social Security tax for those earning less than $4,000 per biweekly pay period. This Executive Order is a deferral and does not provide relief from eventually owing these taxes.
Similar to other large employers, Exelon will continue to withhold and will not be deferring any Social Security tax withholding during the period Sept. 1, 2020 - Dec. 31, 2020. This course of action to continue to withhold is permitted by the U.S. Treasury Department.
The reason we are not participating is that while employees would see an additional 6.2 percent in their checks this year, during the repayment period in 2021, the employee net pay would be less as they would be subject to double withholding (12.4 percent) of the applicable Social Security payroll taxes. This could result in more financial stress than the short-term benefits the deferral may have provided.
Do check out the financial health resources available for Exelon employees from our partners at Financial Engines. To find these resources, please access your 401(k) account online by logging onto the HR Services Portal and click Savings Plan and then select "Get Advice" from the dropdown menu.
Make Time for Vacation Time!
We're already at the end of the third quarter of the year, so it's time for another reminder about taking vacation. Don't forget -- roll-over allowances for vacation days will not be increased, so we encourage you to schedule your vacation days now rather than lose them at year's end. Even if the pandemic keeps you from traveling, taking time away from work is important for your
Rest assured that Exelon is doing all we can to keep you and families, as well as our customers and communities, healthy and well during this difficult time. We encourage you to check the Exelon Coronavirus Information Center frequently for more important information and updates.mental health. So, take a step back, relax and use your vacation time.
Reminder: Get the Flu Shot
The flu season is fast approaching. Do get your flu shot to protect yourself and others against the flu and preserve health care resources strained by COVID-19. On-site flu shots are available only to those employees and core contractors who are not remote-enabled and are working onsite at specific locations. Click here to schedule an appointment. Employees working remotely are encouraged to get the flu shot from a local pharmacy or health care provider.
Q3 DEI Webinar
Don't miss the upcoming Diversity, Equity and Inclusion webinar, "Disability: Beyond Accommodations: Creating Inclusive Workplaces for People with Disabilities."
This webinar will focus on visible and invisible disability awareness issues in workplaces and explore the differences between the accommodation component and the bias component of including people with disabilities in the workplace. The webinar also will present individual strategies that all employees can execute to be more actively inclusive of people with disabilities. It will be recorded.
"Disability: Beyond Accommodations: Creating Inclusive Workplaces for People with Disabilities"
Wednesday, September 30
11am-12:30pm CT/ 12 – 1pm ET
You can register here.
*To ensure the best user experience, please use Google Chrome instead of Internet Explorer to register for this session.
Protect Yourself against Malicious Meeting Invites
While Exelon does not recommend Zoom or Google Meet, we understand that many external organizations use these platforms to conduct meetings. When accepting a meeting invitation from an external party, do check the sender's email address and meeting information for accuracy. Do hover over the meeting URL before clicking it and be watchful of misspellings. Don't click on links within a meeting invitation if you were not expecting the link. When in doubt, do use the Report Phishing Button to report suspicious emails.
