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Catapult Introduces NC Tri-Share: A New Benefit to Support Employees with Child Care Costs

By Martha Barker posted 10-07-2024 11:13 AM

  

Catapult is thrilled to launch an exciting benefit: NC Tri-Share, an innovative program in partnership with the North Carolina Division of Child Development and Early Education. This program offers a simple yet powerful solution to a growing problem: making child care more affordable and accessible while allowing businesses to better support their workforce.  

What is NC Tri-Share? 

NC Tri-Share is a unique cost-sharing model designed to help employees manage child care expenses by splitting the costs between three parties: the employer, the employee, and the state. This structure not only reduces the financial burden on families but also helps employers retain top talent by providing a critical benefit to working parents. 

With NC Tri-Share, businesses can directly support their employees’ well-being, leading to improved productivity, job satisfaction, and retention. 

Key Program Features: 

  • Employer Contribution: Employers cover one-third of child care costs and a 9% administration fee. 

  • Employee Eligibility: Employees must have a household income between 185%-300% of the Federal Poverty Level and cannot qualify for other subsidized child care programs. 

Why Should Your Organization Become a Tri-Share Business? 

For businesses, offering NC Tri-Share as a benefit goes beyond just reducing child care costs for employees. It demonstrates a commitment to your employees’ well-being, helps foster loyalty, and supports a work-life balance that many professionals seek today. By participating, businesses can: 

  • Attract and retain top talent in a competitive job market. 

  • Reduce absenteeism and increase productivity by alleviating one of the major stressors in employees' lives. 

  • Position your company as a leader in employee care and support, enhancing your brand’s reputation. 

Who Can Participate? 

Currently, the NC Tri-Share program is available in select North Carolina counties, including Cleveland, Henderson, Polk, Rutherford, Lincoln, Gaston, Moore, Union, Montgomery, Richmond, Scotland, Hoke, Cumberland, Chatham, Martin, and Pitt. 

If your business operates in these counties, Catapult invites you to learn more about how you can become a part of this transformative program and offer this benefit to your workforce. 

Interested in Tri-Share, But Your Employer Operates Outside of These Counties? 

If you are an employee whose employer operates outside of these counties, please complete the application and choose “other” for questions 3 & 4. We are working with the NC General Assembly to sustain and expand this program to more counties beyond the pilot phase. When you provide your county name we will note your interest and consider availability in this pilot program. 

About Catapult 

Catapult is dedicated to empowering businesses with innovative solutions and services to help them thrive in a rapidly changing world. Our mission is to help members unlock potential and provide the tools they need to succeed. 

For further inquiries, please contact nctrishare@letscatapult.org. 

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Comments

Hannah Royal
10-09-2024 10:29 AM

This is such a cool benefit! I hope it is successful and is introduced to more NC counties.

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