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31 HR Acronyms Explained

Genesis HR Solutions

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. ( TurboTax ) 401(k): Retirement plans named for the section of the tax code that governs them. (

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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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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. Aim for a plan that covers at least 60 percent of employees’ salaries.

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Navigating employee benefits: A comprehensive guide for growing businesses

Insperity

The financial wellness of your workforce is especially critical given economic conditions, record-high inflation and high levels of household debt, leading many workers struggling to save enough money. 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.

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What is a PEO (& why do you need one)?

Genesis HR Solutions

What is a Professional Employer Organization? A Professional Employer Organization (PEO) allows its clients to outsource many of their human resource functions, share employment liability, and, oftentimes, gain economies of scale to bring an improved benefits package to their employees. PEO Payroll.

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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 do you decide which benefits your organization should offer? Common Employee Benefits.