Moving Assistance Loan Policy

Policy #:

HRC 501.003

Executive Owner:

Director Human Resources

Scope:

All new employees.

Purpose:

To establish a policy to govern the reimbursement of relocation expenses for employees who receive Moving Assistance Loans.

Policy:

AdventHealth University will cover the cost of the lowest of the three moving bids obtained by the employee.

The university agrees to amortize a Moving Assistance Loan according to the following schedule:

Employed less than 12 months employee owes 100% of the loan amounts.
Employed less than 24 months employee owes 75% of the loan amount.
Employed less than 36 months employee owes 50% of the loan amount.
Employed less than 48 months employees owes 25% of the loan amount.
Upon completing 48 months of employment, agrees to forgive 100% of the Moving Assistance Loan.

Procedure

The employee must submit three moving bids to Human Resources.
The employee must complete and submit a Moving Assistance Loan Agreement to Human Resources prior to incurring any expenses.
The employee may request payment to the mover or to be reimbursed the amount of the lowest bid.