Optional Benefits

Improved Essays
I believe optional benefits, for example, pension plans, life coverage, stock bonuses, dental and child care, and cafeteria plans have come to be expected by workers (Noe, 2011). These benefits are from time to time negotiated between the employee and the employer as conditions for employment. Despite the fact that these benefits are not required by law, however once they are part of the employee contract, in which the business has to offer them to the employee.
Optional benefits are those which a company has the option of providing. These optional, or supplementary, benefits incorporate such significant compensation territories as insurance and tax-qualified plans of deferred compensation (Noe, 2011). The optional benefits likewise incorporate

Related Documents

  • Improved Essays

    Hrm/531 Week 1

    • 881 Words
    • 4 Pages

    Provisions of paragraphs one, seven, and eight are for employees by stipulating the roles the employees are expected to perform. Additionally, it gives wider insights on the responsibilities that are expected from employees. The provisions also provide key terms that should be followed in the contract. Question 4 The provisions of paragraphs two and four are intended to protect the confidential information of the company and its inventions.…

    • 881 Words
    • 4 Pages
    Improved Essays
  • Improved Essays

    10 & 11 - All Possible Questions TRUE/FALSE 1. Per GASB Statement No. 34, permanent funds are classified as fiduciary funds. 2. In accounting for permanent funds only the income can be spent; the principal must be preserved intact. 3.…

    • 1958 Words
    • 8 Pages
    Improved Essays
  • Improved Essays

    Hrm/531 Week 2

    • 608 Words
    • 3 Pages

    This week we began to revisit the employment law textbook. In Chapter 12, we discussed wages, hours, and pay equity. Of the first topics we discussed was the federal minimum wage. States are required to meet the federal minimum wage, but can provide more. I was not surprised that California had a higher minimum wage because the cost of living is extremely high there, especially compared to Texas.…

    • 608 Words
    • 3 Pages
    Improved Essays
  • Improved Essays

    Pension Plans Case Study

    • 489 Words
    • 2 Pages

    1. Describe three criteria used to qualify pension plans for preferential tax treatment. The first criterion is a defined benefit plan. With define benefit plans; retirees received guaranteed payments for the duration of their lives.…

    • 489 Words
    • 2 Pages
    Improved Essays
  • Decent Essays

    1. What is the Employment Standards Act (ESA)? The Employment Standards Act lays the rights and rsponsibilities to be followed by both employers and employees in Ontario Workplace. a) To whom does it apply?…

    • 640 Words
    • 3 Pages
    Decent Essays
  • Improved Essays

    When comparing the retirement plans, money purchase plan, profit-sharing, and employee stock ownership plan and 401(k) it is determined that all types of defined-contribution plans (Noe, 2011). Money purchase plan requires setting annual contributions from the employer to individual accounts and is subject to certain funding and other rules. In other words, the employees' to make contributions on a tax-favored basis to individual retirement accounts (IRAs) owned by the employees. I believe the money purchase plan is a contributory plan retirement plan. “Whereas, profit-sharing and employee stock ownership plans contributed to the plan (out of profits or otherwise).…

    • 483 Words
    • 2 Pages
    Improved Essays
  • Superior Essays

    Non Mandated Benefits

    • 1389 Words
    • 6 Pages

    What mandated benefits must the company provide to all employees? Explain each benefit. Assume that the president has decided to provide some non-mandated benefits. Which benefits will you recommend that the company provide to employees and why?…

    • 1389 Words
    • 6 Pages
    Superior Essays
  • Improved Essays

    Planned Parenthood is an abortion king. They perform more abortions than anything or anyone else. That might have triggered John Kyl to say “ 90% of what Planned Parenthood does is abortions.” Statements similar to these are important because it isn’t a passable offense when elected officials would lie to Americans. That is what this statement is.…

    • 506 Words
    • 3 Pages
    Improved Essays
  • Improved Essays

    A cash balance plan is a defined benefit plan, often referred to as a hybrid plan, since it has some of the characteristics of a defined contribution plan (IRS, 2016). In the article, “A Review of Defined Benefit, Defined Contribution, and Alternative Retirement Plans” (2012), this plan there is a promised benefit in terms of ending account balance, have higher annual contributions, the risk is solely on the employer, benefits are invested by the employer, and protected through the PBGC. An employee’s account is credited each year with a contribution from the employer and an interest credit that is linked to an index rate (IRS, 2016). The employee does not have to contribute to a cash balance plan, but if they chose to do so, the benefits…

    • 858 Words
    • 4 Pages
    Improved Essays
  • Improved Essays

    The Benefits Of Welfare

    • 1854 Words
    • 8 Pages

    Today in the United States around one hundred and ten million people were on welfare (“The 35.4 percent”). If you keep looking into it, that is almost thirty-five percent of the people in America (“The 35.4 percent”). So, what about the rest of the world? Why are we paying for these people? America needs to stop and stand up for themselves.…

    • 1854 Words
    • 8 Pages
    Improved Essays
  • Improved Essays

    Career Evaluation Paper

    • 452 Words
    • 2 Pages

    yearly or according to the level of performance, by the company. Some companies also have profit sharing policies. For example, in 2010, Google Inc. gave all its employees a one thousand dollar holiday bonus and paid the taxes for the money meaning the employees kept the entire sum (Blodget, 2010). Such incentives might prove critical when picking careers or companies. In the matrix, salary was assigned an overall weighted score of 25 out of 100.…

    • 452 Words
    • 2 Pages
    Improved Essays
  • Improved Essays

    The case study is based on two companies that are L.L. Bean and Aflac Insurance. The case study is related to the use of total rewards by companies in order to support the organization’s missions and values, which achieve strategic outcomes. The base company is Aflac to understand and get the idea about the compensation and benefit structures, which achieve organizational outcomes. Discussion Company uses its own products or services to enhance the total compensation for its employees Aflac offers its products to its all dedicated employees without any cost; for instance proposing employer-paid life insurance, which Aflac paid company supported accident protection insurance and cancer policy. Aflac dedicate its resources to determinations,…

    • 891 Words
    • 4 Pages
    Improved Essays
  • Improved Essays

    Universal healthcare could benefit the United States in several different ways since the affordable care act is still a financial burden to some of the American people. The need for it is growing substantially in the United States due to how many people are still uninsured. Universal healthcare is beneficial because it provides everyone coverage without financial hardship; promotes preventive care, which would contribute to less costly treatments; and improves quality of healthcare, leading to fewer deaths per year. Through universal healthcare everyone will receive coverage without a financial hardship.…

    • 1316 Words
    • 6 Pages
    Improved Essays
  • Improved Essays

    Why? | Natasha Wylie | 5/13/2012 6:05:23 PM | | I'm on the fence about whether there is too much government intervention in the administering of employee benefits. I'm sure that both sides could argue where oversight is needed and where there is too much involvement. Whether the oversight is handled by the government or another agency, I do believe that someone should look out for the best interest of employees, and ensure things related to benefits are handled in a proper manner. |…

    • 9442 Words
    • 38 Pages
    Improved Essays
  • Improved Essays

    • Development of workplace policies to ensure fairness and continuity within the organization. Following policies such as discipline process, vacation time, dress code, ethics an internet usage policy. • Compensation and benefits, includes anything the employee receives for his or her work. These involves setting up pay, health benefits, vacation time, sick leave, and 401K. • Retention keeping and motivating employees to stay with the organization • Training and development. Such as job skills training, communication and team-building • Dealing with Laws affecting employment such as discrimination laws, health-care requirements, compensation requirements; minimum wage, worker safety laws and labor…

    • 820 Words
    • 4 Pages
    Improved Essays