Northfield
1101 S. Highway 3
Northfield MN 55057 |
|
| This restaurant is owned and operated by an independent franchisee of the McDonald's Corporation. |
$2500 in McTuition
Bamco, Inc./McDonald’s is proud of its commitment to the education of our youth. We are proud of our employees’ success in balancing school and work, and we are pleased to support their efforts by providing the McTuition program.
The McTuition program is a unique opportunity created to assist all Bamco’s employees with their educational goals. The program enables employees to save $0.50 for every hour that is worked and deposit the savings into an interest bearing savings account. Bamco will match that amount up to a maximum of $2500 to help defray the cost of tuition.
Eligibility Requirements
Any Bamco/McDonald's employee is eligible to participate at anytime during their employment. Employees under the age of 18 require parental/guardian consent.
Eligible Education Programs and Courses
Any college, university, technical college, approved trade program and other affiliated programs qualify. Any approved undergraduate or graduate course at an eligible educational institution, whether job related or not, will be considered for the employer-contributed match.
Employee Contributed Deduction
For each hour worked, $.50 will be deducted from the employee’s pay and deposited into an interest bearing savings account in the employee’s name at Wells Fargo Bank. Employee contributions cannot start until a signed account application is received and an account has been opened.
Employer Contributed Match
Bamco matches employee contributions upon proof of enrollment in an eligible undergraduate educational program. Employees must provide Bamco with a copy of their billing from the school for tuition. Matching monies will be based on the employee’s accumulated total in the program, less money withdrawn, and less interest earned.
Only monies used for educational assistance will be eligible for the match. Educational assistance includes tuition and fees.
Employer Payment of Employee's Educational Expenses
Payments are only available to “active” employees currently employed with Bamco or will attend college within thirty days of termination. A McTuition Request for Funds Form must be completed and submitted to the Bamco office. Employees must include a copy of the tuition bill, invoice, or receipt from the educational institution and a copy of their current savings account balance. McTuition matching dollars are a nontaxable educational benefit. Payments received by an employee for tuition and fees under the McTuition program may be excluded from an employee’s gross income.
Program Termination
Employees must notify the Bamco office, in writing, if they wish to discontinue deductions. If employment terminates, all funds that the employee contributed, as well as interest earned, will be available for immediate withdrawal.Employees taking a Leave of Absence from work, to attend school, must meet specific requirements to be eligible for the employer-contributed match. Leave of Absences must follow Bamco policy and be approved by the Restaurant Manager.
Bamco/McDonald’s and its management reserves the right to discontinue or modify the McTuition program at its discretion.
Bamco reserves the right to make final decisions as to educational programs and courses eligible for McTuition.
Updated 8/13/07
