HR Digest

OCTOBER 22, 2023

Not every company can afford such generous or quirky fringe benefits but making the most of their funds and providing more feasible ones does wonders for the mood at the workplace. 401(k) as a Fringe Benefit The very popular 401(k) is also a fringe benefit as employers can choose to assist employees with their retirement planning.

401(k) 52

401(k) Employee Stock Option Deductions Deductible 52

PeopleStrategy

JANUARY 17, 2024

Not only have employees not had time to prepare for that change, it also can have ramifications on employee deductions for benefits or contributions to retirement or health savings plans. If not, look at some benefits the PeopleStrategy platform will provide for you (even if this doesn’t happen for four more years).

Payroll 52

Payroll Payroll System Deductions Deductible 52

AssuredPartners

APRIL 12, 2022

Summary: The rule will add a minimum value rule for family members based on the cost of benefits provided to the family, so that if the family coverage proves not to be affordable, the family members can qualify for the premium tax credit (PTC) on the Marketplace Exchanges.

Healthcare 98

Healthcare Benefit Providers Taxes Hospitality 98

HR Lineup

FEBRUARY 2, 2024

Leave encashment is a significant aspect of employment benefits, providing employees with the option to convert their unused leave days into monetary compensation. Employees often accrue leave days as part of their employment benefits , including annual leave, sick leave, and other types of leave granted by the employer.

Taxes 52

Taxes Government Salary Deductions 52

Benefit Resource Inc.

MARCH 16, 2021

Assuming employers adopt the increased limit for dependent care, employees can take advantage of the new provision by logging into their personal accounts and updating their elections. Employers should be aware that nondiscrimination testing issues may result from adopting the higher limit. Next steps for employers.

Flexible Spending Account 76

Flexible Spending Account Benefit Providers Flexible Spending Deductions 76

HR Lineup

OCTOBER 18, 2023

It simplifies the process of calculating salaries, factoring in taxes, deductions, and benefits. One of Plane’s standout features is its ability to integrate seamlessly with various HR tools and benefits providers. This not only saves time but also improves data accuracy.

Payroll 52

Payroll Retirement Plan Benefits Package Health Insurance 52

Business Management Daily

DECEMBER 1, 2019

Hourly-paid nonexempts are impacted only to the extent of withholding and deductions. 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. Employees’ benefits deductions and allowances (e.g.,

Payroll 83

Payroll 401(k) Deductions Deductible 83

Business Management Daily

DECEMBER 17, 2021

Records must be kept from the beginning of the employment relationship until well after it ends. HR departments must retain hiring records, job applications, resumes, interview notes, job descriptions, rates of pay, time cards and payroll records, performance appraisals , evaluations, I-9 forms, benefits records, and many other documents.

Family and Medical Leave Act 52

Family and Medical Leave Act Medical Deductions Deductible 52

HR Digest

JUNE 19, 2019

Commuter benefits are expenses reduction program provided by employers to employees. It is also known as transportation or transit benefits. The program is provided to help employees in reducing their monthly transportation expenses. Employee commuter benefits are pre-tax payroll deductions.

Payroll Software 45

Payroll Software Transportation Deductions Deductible 45

Business Management Daily

NOVEMBER 30, 2021

Flexible spending accounts (FSAs) are employer-established accounts that allow you to put aside pre-tax dollars from your paycheck into a special account to be used for eligible health or dependent care expenses. The card is issued by the benefits provider that the employer has chosen to work with for the FSA.

Retail 52

Retail Healthcare Medical Flexible Spending Account 52

Empuls

APRIL 28, 2023

According to a recent study by HBR , 80% of employees say that benefits are a significant factor in deciding whether to accept a job offer, and 60% of employees report that benefits are a major reason for staying with their current employer. What are employee benefits?

Family and Medical Leave Act 40

Family and Medical Leave Act Employee Benefits Parental Leave Benefits Package 40

Vantage Circle

JANUARY 30, 2022

As an employer, you must have considered providing your employees with some extra benefits besides their regular wages. But have you ever wondered whether these benefits are taxable? What exactly is a taxable benefit, and are they legally required? What Is A Taxable Benefit? De minimis (minimal) benefits.

Employee Stock Option 52

Employee Stock Option Taxes Paid Vacation Life Insurance 52

Hppy

APRIL 11, 2021

Payroll processing involves several tasks like calculating employee hours, leaves, deductions, paid time off, generating reports, preparing tax filings, printing and distributing paychecks. The payroll service provider has a dedicated team processing different aspects of payroll. Photo by Tima Miroshnichenko from Pexels.

Payroll 69

Payroll Outsourcing Payroll Payroll Manager Payroll Service 69

Hireology

MARCH 22, 2019

And in many cases, when benefits are managed manually, it can lead to costly errors. In fact, a study from the Aberdeen Group found that 12-15 percent of all benefits carrier billing contains errors. Many employers waste time and risk errors manually comparing benefits invoices to a list of covered employees line by line.

Parental Leave 60

Parental Leave Payroll Life Insurance Deductions 60

Corporate Synergies

DECEMBER 10, 2018

Which voluntary benefit options are right for your employees? This 4-step voluntary benefits checkup will help you decide. As the cost of medical plans rises, employers are offering high-deductible health plans (HDHPs) and health savings accounts (HSAs) as part of their employee benefit plans. As Seen In.

Voluntary Benefits 45

Voluntary Benefits Hospitality Health Savings Account Deductions 45

Business Management Daily

MAY 20, 2020

The employee retention credit offers you a 50% credit on your share of Social Security taxes, up to $5,000 per employee, if you continue to pay and provide health benefits to employees. But many employers have concluded that continuing to pay employees isn’t realistic right now. Technically, the IRS is correct.

Employee Retention 52

Employee Retention Taxes Finance Paid Leave 52

Fringe Benefit Analysts

MAY 8, 2022

As many employers and businesses are aware, employee benefits packages are very important considerations for candidates when they are being scouted by recruiters. They will also navigate employers and employees through the layered and complicated task of implementing such plans to reduce complications or errors.

Consulting 52

Consulting Employee Benefits Benefits Package Health Insurance 52

Vantage Circle

NOVEMBER 23, 2023

Expectations of employees regarding employee perks in the US Key benefits of having an employee perks program in place 12 effective employee perks in the US Don't forget to take action Before we delve further, let us glimpse at the concept of employee perks and how they are important in workplace scenarios across the US. percent and 36.1

Family and Medical Leave Act 64

Family and Medical Leave Act 401(k) Retirement Plan roth 401(k) 64

Genesis HR Solutions

AUGUST 9, 2018

Sometimes benefits are paid for wholly by employers; other times they are paid for by employees, and sometimes the expenses are shared. How the benefits expenses are shared (or not) is determined by the employer. The most expensive benefit to offer is health insurance. Considering a PEO?

Employee Benefits 40

Employee Benefits 401(k) Health Insurance Insurance Carriers 40

Patriot Software

FEBRUARY 13, 2019

But, you can’t be caught unaware by your employer responsibilities for handling the death of an employee. If you pay the wages in the calendar year that the employee died, do not deduct federal income tax. Do you offer benefits like health insurance, life insurance, and retirement plans?

Payroll Software 40

Payroll Software Health Insurance Payroll Taxes 40

Genesis HR Solutions

SEPTEMBER 19, 2018

Employers benefit by relying on the PEO to manage payroll, provide employee benefits, deliver human resource services, and share risk. Employees benefit too, given that employee benefits offered through a PEO are generally much more robust than they would be absent the PEO relationship.

Taxes 45

Taxes Health Insurance Insurance Payroll 45

Corporate Synergies

FEBRUARY 25, 2019

Multi-generational benefits can satisfy the demands of life’s various stages. Employers and HR teams are managing employees (and a benefits strategy) for a workforce that stretches across three to five generations. Meanwhile, HR is focused on engaging employees in the organization’s benefit plans. As Seen In.

PTO 40

PTO Health Insurance Finance Healthcare 40

AssuredPartners

MAY 9, 2019

This employer-provided voluntary benefits program allows employees to effectively reduce their monthly commuting or transit costs. In 2019, the monthly limit is $265 for any commuter benefit or transit pass. For the first violation, the penalty is not less than $100 and not more than $250.

Employee Benefits 40

Employee Benefits Transportation Taxes Voluntary Benefits 40

Empuls

JUNE 16, 2023

Meal allowances are financial benefits employers provide to cover the cost of meals consumed during work-related activities. Employers address their workforce's basic needs by offering meal allowances and promoting employee well-being and satisfaction. What is meal allowance for employees?

Taxes 40

Taxes Food Utilities Consulting 40

Insperity

JULY 22, 2014

Second, subsidies aren’t available to those who are offered qualifying coverage through their employer that meets minimum value and affordability requirements : Minimum value – At least 60 percent of essential health benefits costs covered by the plan. The following expenses are lowered for qualified individuals: Deductibles.

Health Insurance 40

Health Insurance Out of Pocket Cost Insurance Carriers Taxes 40

Empuls

JULY 31, 2023

With the Bamboo Payroll integration, HR and finance teams can seamlessly manage employee compensation, deductions, tax calculations, and payroll reporting, all within the Bamboo HR platform. It streamlines the benefits enrollment process, automates data updates, and ensures accurate records.

Payroll 52

Payroll Electronics Software Payroll Manager 52