World Bank/IMF Employees Private School Tuition Benefit?

[Anonymous]

Is it true that the World Bank and IMF will pay for private school tution for their employees? If true:

1) Is it a full ride, or a set amount or percentage?

2) Do these apply only to certain employees (foreign, management, etc.)?

3) Is there a minimum amount of time you need to be employed before the benefit kicks in?

4) Any strings attached (i.e., have to pledge x amount of years at the organization)?

[Anonymous]

It is true at the Fund, no longer for new hires at the Bank, I believe. At the Fund, it applies to everyone except US citizens.

I believe the benefit is capped at 70% or $17k per year (approximately), and there is now a limit on the number of children per family who can receive the benefit.

[Anonymous]

I am at the IMF and yes this is one of the benefits for expatriates. It is 75% of eligible expenses which excludes food and books and the annual cap increases each yaer. This year it was $18720 for US based kids and $25720 for kids abroad in boarding schools. Theere are a few more details but that essentially os it.

[Anonymous]

I am thye PP at the IMF. there is no limit on the number of kids eligible as long as they are the staff members own children either biological or adopted.

[Anonymous]

What if both parents work for the World Bank? Does the other parent's benefit cover the rest?

[Anonymous]

IMF PP here again. To answer other specific questions


1) Is there a minimum amount of time you need to be employed before the benefit kicks in?
No. The benefit kicks in as soon as you join. The fees are prepad when the term starts and you have to show prook at the end of the year that your child/ren attended.

2) Any strings attached (i.e., have to pledge x amount of years at the organization)?
No strings attached and no pledges. You only have to prove attendance at the end of the year.

3) What if both parents work for the World Bank? Does the other parent's benefit cover the rest?
I do not know how the Worldbank works specifically but from thr IMF's perspective, if one parent is at the bank and the other at the IMF or if both parents are at the IMF only one parent can elect to claim the benefit. So you will not get 2 education allowances either from the IMF or from the IMF and the Bank. Both organizations are in contact with each other to ensure this rule is followed. Also one parent cannot top up what the other has claimed - you just get one benefit.

[Anonymous]

No tuition/ed benefits for WBG employees hired after 1999. The benefit was for ex-pats only and never applied to US citizens.

[Anonymous]

The IDB (Inter-American Development Bank) has a similar tuition benefit. Up to 50% or $8,800. Whichever is lower.

[Anonymous]

Anonymous wrote:No tuition/ed benefits for WBG employees hired after 1999. The benefit was for ex-pats only and never applied to US citizens.

Absolutely correct.

And another one that drives me nuts is about employees not having to pay taxes- US Citizens employed by the World Bank DO pay taxes!

[Anonymous]

I agree. The situation is COMPLETELY different for Americans. Add to the list no home leave (which amounts to a free trip for a family every 2 years).

[Anonymous]

Anonymous wrote:

Anonymous wrote:No tuition/ed benefits for WBG employees hired after 1999. The benefit was for ex-pats only and never applied to US citizens.

Absolutely correct.

And another one that drives me nuts is about employees not having to pay taxes- US Citizens employed by the World Bank DO pay taxes!

You shouldn't be driven nuts by this because US Citizens employed by IMF and WorldBank get a gross salary that also accounts for the amount of taxes they have to pay. so in their paycheck they get the equivalent of what non US-Citizens save on their taxes.

[Anonymous]

Anonymous wrote:I agree. The situation is COMPLETELY different for Americans. Add to the list no home leave (which amounts to a free trip for a family every 2 years).

There are many serious drawbacks for non Americans, however, that offset this alleged privilege of the homeleave. For instance, if the employee dies or loses his/her job, the entire family has to leave the US in about a month, no excuses (no matter whether you have to sell your house, remove your children from school, etc). How about this?

[Anonymous]

WBG discontinued this benefit for hires after 1999; US citizens were never eligible.

[Anonymous]

Anonymous wrote:[You shouldn't be driven nuts by this because US Citizens employed by IMF and WorldBank get a gross salary that also accounts for the amount of taxes they have to pay. so in their paycheck they get the equivalent of what non US-Citizens save on their taxes.

I am sorry but I don't follow you at all.

Instead of our paychecks starting out with one amount and then showing lines of taxes removed, we just have the bottom line amount on the check. We as US citizens must pay our own taxes. The Bank provides separate checks for that and then we must send the money to the IRS. The tax money provided by the Bank in no way covers the amount of taxes I owe each year and I really do not know anyone for whom it does. We are still resposisble for paying our own portion of Social Security taxes and are treated as "self employed' for such purpose but can not take any of the tax benefits of being self employed. Also, US citizens employed at the Bank do not receive any of the benefits that the media touts that Bank employees receive. As mentioned, there is no education, home leave, ability to employee a G-5, etc.

[Anonymous]

PP: as a non-US citizen hired post 1999 at the Bank, please note that there are NO benefits such as home leave, education allowance etc. Those benefits only apply to those hired before 1999.