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31 HR Acronyms Explained

Genesis HR Solutions

For employers and employees, there are myriad HR terms to know and understand. 1099: A form that reports income from self employment earnings, interest and dividends, government payments, and more. TurboTax ) 401(k): Retirement plans named for the section of the tax code that governs them. ( Which ones did I miss?

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16+ types of employee benefits you should consider

Genesis HR Solutions

At the end of this article, we’ll explain how a professional employer organization (PEO) can help you select, negotiate, and administer best possible benefits for your company. There are four major types of employee benefits many employers offer: medical insurance, life insurance, disability insurance, and retirement plans.

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How to find the best PEO for small businesses: 5 Non-Negotiables

Genesis HR Solutions

It must be a Certified Professional Employment Organization (CPEO). As of 2017, professional employment organizations are eligible to become certified through the IRS (thus Certified PEOs). We also offer the following: Group Health, Dental, and Vision. 401(k) Options. Life/AD&D.

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4 Health Insurance Options For Small Business Owners

Genesis HR Solutions

As one of the most expensive aspects of running a small business, health insurance is top of mind for many employers. When it comes to recruitment, 46% of people say health insurance was either the deciding factor or a positive influence in choosing their current job. Health Insurance For Small Business Owners: 4 Options.

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5 Steps to Building an Employee Benefits Program That Won’t Break the Bank

Insperity

However, some businesses offset this cost to their employees by contributing money to health savings accounts. Retirement savings plans – Offering a defined contribution retirement plan, such as a 401(k), can help you stay competitive. employer contributions to insurance benefit premiums).

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Navigating employee benefits: A comprehensive guide for growing businesses

Insperity

In exchange for this benefit, employees give up their right to sue their employer over their work-related injury, regardless of which party is at fault. In a 401(k) plan, the most common type of retirement plan, employees can save up to a certain amount set by the U.S. Internal Revenue Service (IRS) each year.

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

Genesis HR Solutions

Tax-preferred plans: Health flexible spending accounts, health savings accounts, health reimbursement accounts, transportation accounts, and more. 401(k) and retirement plans. How the benefits expenses are shared (or not) is determined by the employer. Considering a PEO?