Remove 401(k) Remove Benefit Providers Remove Health Savings Account Remove Life Insurance
article thumbnail

Leap year! How to handle 27 biweekly payrolls in 2020

Business Management Daily

Although most companies choose this option, it may be a costly decision, since employees will receive an extra paycheck, along with extra taxes withheld and extra benefits provided. Savings bonds, United Way, creditor and child support garnishments, deductions for other outside groups and other voluntary deductions.

Payroll 83
article thumbnail

Open enrollment checklist for employers

Business Management Daily

Some benefits to consider adding or expanding are: 401K benefits: If your business is not matching contributions, you may want to look into what competing employers are doing in terms of retirement benefits and whether there is room in the budget to offer some level of matching. Make any necessary additions.

article thumbnail

Understanding the cost of employee benefits & what it means for your company

Genesis HR Solutions

How much of an employee’s salary is made up of benefits. Common Employee Benefits. Insurance types: Medical, dental, vision, disability, and life insurance plans. Tax-preferred plans: Health flexible spending accounts, health savings accounts, health reimbursement accounts, transportation accounts, and more.