Starting this June, Apple will offer employees new discounts on Apple products, including $500 off new Macs and $250 off iPads, according to 9to5Mac. 

The new discount plan, announced by Apple CEO Tim Cook at yesterday’s internal Town Hall Meeting, has some caveats: it excludes the Mac Mini, is limited to one use every three years, and is limited to employees who have been with the company for at least 90 days. It is unknown if the plan includes “friends and family” options, which Apple currently offers to employees, that would allow employees to provide discounts to those other than themselves.

It is also unknown at this time if the plan announced by Mr. Cook will supplant or enhance Apple’s existing employee purchase agreement, which allows employees to purchase one Mac every calendar year at 25% off.

While the current plan does not offer any discount on the iPad, it does allow employees in some cases to save considerably more than $500 on Macs. Combine that with the ability to use the plan every year and it is unclear if Apple’s new employee purchase policy is actually a benefit or a loss.

We will likely see more information on specifics as we get closer to June. For now, however, if you’re really looking for a good discount on an iPad, perhaps a three-month summer stint in Apple Retail is in your future?