Employee Benefits

NOVEMBER 20, 2023

UK Power Networks uses total reward statements (TRS) to inform and engage its 6,000 employees with its benefits package. The TRS outlines what employee benefits have been on offer for the past 12 months. Employees are given the choice of which format they would prefer and more than 90% opt for a paper copy.

Retail 105

Retail Overtime Pension Benefits Package 105

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. Leave encashment is a flexible benefit that caters to the diverse needs of employees. Here are key considerations regarding the taxation of leave encashment: 1.

Taxes 52

Taxes Government Salary Deductions 52

PeopleStrategy

JANUARY 17, 2024

Leap year impacts payroll, taxes, and benefits, all of which your payroll platform and other support services should be set up to handle. 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.

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Payroll Payroll System Deductions Deductible 52

Employee Benefits

AUGUST 9, 2023

Credit: Richard Oldroyd / Shutterstock.com The University of Salford ensures it provides comprehensive financial wellbeing support and education that is targeted at all different groups of employees. These are hosted twice a year by a professional consultancy firm and are free of charge.

Pension 98

Pension Benefit Providers Education Professional Services 98

Employee Benefits

MAY 22, 2023

Beyond recouping costs, PMI has evolved in recent years to include various value-add services that will ultimately help maintain the health and wellbeing, both physical and mental , of staff for those employers that adopt this as a benefit. Are there any tax or legal implications? Who are some of the key providers?

Medical 105

Medical Insurance Healthcare Taxes 105

Employee Benefits

OCTOBER 4, 2023

Employee Benefits Live 2023: Enterprise Rent-A-Car has supported employees during the cost-of-living crisis with a salary increase and conducted a benchmark analysis of its pay and benefits providers. Centrica focused on communication in order to increase employees’ engagement with the benefits they have.

Pension 59

Pension Benefit Providers Salary Benefits Package 59

Benefit Resource Inc.

APRIL 6, 2023

In honor of National Employee Benefits Day, here are some of the often overlooked benefit options employers can use to “sweeten the pot” to attract new talent and retain existing talent. These eight benefits provide an opportunity for over $30,000 of increased value to employees each year.*

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Employee Benefits Health Savings Account Taxes Entertainment 52

AssuredPartners

OCTOBER 13, 2022

Provided specific conditions are met, employees can now on a prospective basis, elect out of family coverage and into self-only coverage (or family coverage including one or more already-covered related individuals) under a health plan mid-plan year. It should be noted that the provisions of this Notice are optional.

Health Insurance 98

Health Insurance Benefit Providers Flexible Spending Insurance 98

WEX Inc.

AUGUST 16, 2023

Surveys also focused on employee benefits provide valuable insights into how well a company’s benefits align with employees’ needs. This feedback can offer benefits for attracting and retaining top talent. Interested in staying updated on the latest trends for HR and benefits professionals? Subscribe to our blog !

Taxes 52

Taxes Benefit Providers Human Resources Employee Retention 52

Insperity

JANUARY 27, 2022

What are fringe benefits? In common parlance, fringe benefits (a.k.a. perks or perquisites) are benefits you offer in addition to pay. The IRS’ Publication 15-B (2021) Employer’s Tax Guide to Fringe Benefits defines a fringe benefit as “a form of pay for the performance of services.

Employment 94

Employment Taxes Health Savings Account Benefits Package 94

Employee Benefits

JANUARY 31, 2024

Simply raising salaries is not an option for many, so employers may need to think creatively about how they can provide financial support without breaking the budget. The employer NI savings can also be used to provide additional support, such as funding financial education programmes or workplace savings schemes.”

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Pension Finance Education Taxes 64

HR Digest

OCTOBER 22, 2023

So what are some fringe benefits then? What does “fringe benefit” mean? Image courtesy – Freepik ) Definition of Fringe Benefits In simple words, the meaning of fringe benefits is exactly what it sounds like— external, outlying benefits. What Are Some Examples of Fringe Benefits?

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401(k) Employee Stock Option Deductions Deductible 52

Best Money Moves

MARCH 11, 2024

In a study from PeopleKeep, 87% of employees surveyed said they valued retirement benefits or retirement accounts. However, only 54% of the employers surveyed even offered those benefits. Retirement plans are tax deductible, flexible and are a great way to attract new talent to your business.

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Retirement Plan Healthcare Healthcare Benefits Parental Leave 91

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. For startups, where efficiency and agility are paramount, Plane is a game-changer.

Payroll 52

Payroll Retirement Plan Benefits Package Health Insurance 52

Employee Benefits

MARCH 11, 2024

Operated via a salary sacrifice arrangement, employees can save money as a result of reduced tax and national insurance contributions (NICs). Employers can also offer access to helplines or websites that can provide employees with a list of emergency childcare providers in their area.

Employment 112

Employment Parental Leave Education Recruitment 112

Benefit Resource Inc.

MAY 9, 2023

As a leading pre-tax benefits provider, Benefit Resource (BRI) has actively participated in various events to showcase our innovative solutions and expand our network. Our team enjoyed networking with peers and sharing our benefits solutions with attendees. NYC SHRM Another fun SHRM event for the books!

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Benefit Providers Taxes Technology Employee Benefits 52

HR Digest

MAY 4, 2024

Misclassification can lead to significant liabilities, including tax penalties and violations of wage laws. These systems should integrate gig work data with multi-dimensional analysis, providing HR with actionable insights that help in strategic decision making and policy formulation. HR strategies need to keep evolving with time.

Management 52

Management Retirement Plan Health Insurance Technology 52

Employee Benefits

JULY 12, 2023

Need to know: As businesses grow, it is vital that their employee benefits strategies also evolve. Any organisation’s needs will change as it grows, whether that is premises, staffing or employee benefits strategies. This not only prepares providers for large shifts in take-up, but it helps with cost planning too.

Pension 98

Pension Net Pay Paid Leave Taxes 98

Employee Benefits

MARCH 31, 2023

A well implemented employee benefits package helps to support your employees with many of their needs. There are some costs that come with implementing employee benefits but when it comes to the advantages your business and your employees gain, it’s more than worth it. Running regular employee surveys can be useful in a couple of ways.

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Benefits Package Employee Benefits Benefit Providers Salary 52

Attorney Charlie Hall

DECEMBER 31, 2021

Getting approved for disability benefits provides increased income stability for veterans and their families. A veteran disabled while on active military service can get approval for SSDI benefits only if he or she meets the Social Security Administration’s strict definition of disability. Wounded Warriors.

Disability Insurance 130

Disability Insurance Medical Insurance Taxes 130

Vantage Circle

JANUARY 30, 2022

But have you ever wondered whether these benefits are taxable? What exactly is a taxable benefit, and are they legally required? If you are a leader or HR professional, you know how important benefits are to the modern workforce. It's no secret that employee benefits are an excellent employee retention strategy.

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Employee Stock Option Taxes Paid Vacation Life Insurance 52

Empuls

SEPTEMBER 28, 2023

In this blog, we have described everything from the best employee benefits in the UK to the way an employee benefits package can be designed for employees, the legal regulations, tax compliance and other nuances with regard to the subject. Pensions are a compulsory benefit provided by employers in the UK.

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Employee Benefits Pension Benefits Package Mandatory Benefits 40

Business Management Daily

SEPTEMBER 22, 2021

Additions may need to be added to include plans that have more provider options in different regions where you have new offices or remote workers. HSA benefit plans: A health savings account lets employees set aside money on a pre-tax basis to pay for qualified medical expenses. Submit all enrollment forms to benefits providers.

Employment 90

Employment Deductions Deductible Benefit Providers 90

Benefit Resource Inc.

APRIL 1, 2021

Angrily, you step aside and call your benefits provider to give them a piece of your mind. Is this benefits provider trying to rip you off and take all of your money by not allowing you to purchase anything with your pre-tax health dollars? What does that mean? Before you ready your pitchforks, let us explain.

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Benefit Providers Medical Taxes Electronics 40

Benefit Resource Inc.

JUNE 28, 2022

HSA’s are the only account to provide a triple-tax benefit. Funds deposited into an HSA tax-free, grow tax-deferred, and remain tax-free. The pre-tax savings in you HSA account can be used to pay for a wide variety of medical expenses. appeared first on BRI | Benefit Resource.

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Health Savings Account Taxes Medical Healthcare 40

Employee Benefits

JUNE 5, 2023

Outsourced payroll solutions and worker benefits provider HIVE360 has launched two new solutions as powerful alternatives to the traditional umbrella providers. HIVE360 Umbrella Plus tackles the typical umbrella challenges head on.

Payroll 52

Payroll Recruitment Outsourcing Payroll Net Pay 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

Higginbotham

APRIL 11, 2022

On April 5, 2022, the IRS released a proposed rule that would change the existing rules for eligibility for the premium tax credit (PTC). The proposed rule would also add a minimum value rule for family members based on the benefits provided to the family members. IRS Proposes Change to Family Coverage Affordability Rules.

401(k) 52

401(k) Taxes Retirement Plan Pension 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. They have updated knowledge about industry compliance about wages and other monetary benefits provided to employees.

Payroll 69

Payroll Outsourcing Payroll Payroll Manager Payroll Service 69

Flimp Communications

SEPTEMBER 14, 2020

The disruption caused by the pandemic brought an end to in-person enrollment meetings and benefits-onboarding presentations for HR and benefits providers. Workforces are virtual and dispersed and access to centralized benefits information is more critical than ever.

Benefit Providers 67

Benefit Providers Media Taxes Management 67

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. Either the IRS will update its FAQ or new legislation will conform to the tax writers’ intent. Employee retention credit.

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Benefit Resource Inc.

MAY 11, 2020

ROCHESTER, N.Y. , May 11, 2020 /PRNewswire-PRWeb/ — Today, Benefit Resource, LLC (BRI), a national third party administrator of pre-tax benefits and COBRA, announced the first of its planned investments in long-term and short-term strategic growth. Since its inception in 1993, BRI has followed a steady growth trajectory.

Taxes 40

Taxes Benefit Providers Medical Technology 40

Empuls

JUNE 16, 2023

It is a benefit provided to employees to ensure they have access to meals at the workplace. Importance of providing meal allowances for employees Providing meal allowances demonstrates an employer's commitment to the well-being and satisfaction of their workforce. What is meal allowance for employees?

Taxes 40

Taxes Food Utilities Consulting 40

Business Management Daily

DECEMBER 2, 2020

Use a W-2 to report wages paid and taxable fringe benefits provided to employees, as employees. It shows that the employer withheld taxes on the employee’s behalf. However, the recipient is ultimately responsible for paying estimated income and self-employment taxes. W-2s are for employees, 1099s aren’t.

Electronics 52

Electronics Taxes Benefit Providers Retail 52

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.

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Retail Healthcare Medical Flexible Spending Account 52

Business Management Daily

DECEMBER 1, 2019

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 paid weekly experience an extra pay period every five or six years. What’s up with this math? Well, nothing. How and when it happens.

Payroll 83

Payroll 401(k) Deductions Deductible 83

Business Management Daily

JUNE 29, 2022

Aside from transportation costs, tax-free reimbursements for employees’ medical travel are limited to $50 per person a day for lodging; meals aren’t included. Employees can access benefits provided through an employee assistance plan. Can employers underwrite employees’ medical travel? The high deductibles continue to apply.

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Family and Medical Leave Act Healthcare Employment Medical 92