Tuition Reimbursement
Tuition Reimbursement is offered to regular, full-time employees seeking to maintain or improve job related skills through participation in course work at certain nationally accredited institutions.
Through this benefit, Otsuka will assist eligible, approved employees with the cost of tuition, books, certain required fees, and other permitted expenses. Upon successful completion of approved courses, employees can receive reimbursement up to a total of $50,000 per calendar year and a maximum lifetime benefit of $100,000.
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Eligibility
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You must be a regular, full-time employee and have completed one year of service with Otsuka or an affiliate, with no gap in service, prior to applying for the benefit.
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You must be an active employee and be in good performance standing, successfully meeting expectations as detailed through your GROW performance ratings at both the time of application and at the time of reimbursement payment.
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Courses must be directly related to your current job responsibilities with Jnana.
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Courses must be part of a formal degree curriculum for an associate (2-year) or higher degree at a nationally accredited school.
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For Executive MBA programs, you must be in the Director or above job level in order to apply.
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You can only seek one degree program during your tenure with Jnana.
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Note, non-degree courses, professional seminars, conferences workshops, private study, and courses not of an academic study are not available for reimbursement under this Program. For courses not part of a formal degree curriculum, you may work with your manager to discuss the opportunity to expense the course if it is beneficial to your employment at Jnana. It is important to obtain all required approvals and ensure course costs are budgeted before enrolling in a course.
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OAPI/OPDC Tuition Reimbursement Policy & Guide
OPH Tuition Reimbursement Policy & Guide
Reimbursement for Approved Tuition Applications
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100% reimbursement is provided up to $5,250 of expenses; and
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80% reimbursement is provided for additional amounts, up to $50,000 per calendar year and a lifetime maximum of $100,000.
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For annual reimbursement limit purposes, the limit will apply based upon the total reimbursement payments made within the calendar year, regardless of course commencement or completion date. Note, all tuition reimbursements are taxable to an employee for federal income tax purposes, except as provided under Sections 127 and 132 of the Internal Revenue Code.
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You must remain on active payroll and be in good performance standing, successfully meeting expectations as defined in the Tuition Reimbursement Plan through the completion of each course.
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You cannot seek reimbursement for more than one degree program during your tenure with Jnana.
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For courses that are graded on a letter basis, you must receive minimum of a "C" grade. Pass/Fail courses will only be reimbursed for passing status.
Application & Reimbursement Process
1. Prior to submitting for a Tuition Reimbursement Application:
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Review the Tuition Reimbursement Plan document, and
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Discuss the program with your leader for alignment.
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2. Submit a Tuition Reimbursement Application for each course via Workday
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Ensure you have a fully approved Tuition Reimbursement Application before classes begin. Failure to complete a Tuition Reimbursement Application and receive approval prior to course commencement will result in denial of tuition reimbursement payment requests.
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3. Enroll in the courses with an accredited institution
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4. Complete the courses
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5. Submit a Tuition Reimbursement Payment Request via Workday within 45 days of course completion
If approved, receive reimbursement via Payroll
Please note: In any plan year you may choose to participate in either the Student Loan Assistance program or the Tuition Reimbursement benefit; however, you may not participate in both. Additionally, Otsuka does not guarantee that participation in formal education will entitle you to advancement, different job assignments, or pay increases.
