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Presented by:
Cory Potochar
  

= Ôenefits
x Types of Ôenefits
x Cafeteria Plans
x What is Required, What is not?
x Pro¶s and Cons
x Legal Issues and Compliance
= Compensation
x Workers compensation
x Additional Types of Compensation
= Professional Help and Outsourcing
  

= The vast majority of Americans who have retirement

and health coverage receive it through employment-
based benefits from either their own or a family
member's job. The employee benefit system in the
United States today is a partnership among
businesses, individuals, and the government. In
general, benefits fall into three categories:
x Voluntary Ôenefits
x Mandatory Ôenefits
x Individual Programs
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  Most employment-
based benefits, particularly retirement plans
and health insurance, are provided voluntarily
by businesses. The government supports
these voluntary employment-based benefits
by granting favorable tax treatment both to
the employers that sponsor them and to the
workers who receive them.


  

= p 

  Certain other benefits,
including Social Security, unemployment
insurance, workers' compensation, and family
and medical leave, are mandatory under
federal or state law.

D
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= ÷
   The government also

supports individual financial security
programs through individual retirement
accounts (IRAs), favorable taxation of life
insurance contracts, and tax-free death
benefits.


= VÔRI stands for the Vmployment Ôenefit

Research Institute
= www.ebri.org
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= Also known as flexible benefit plans, cafeteria

plans allow employees to have some choice
in designing his or her benefit plan.
= http://www.afscme.org/wrkplace/cafe.htm
½   "#$ ½    "#%

= Small Vmployers are NOT required to provide:

x Retirement plans
x Health plans (except in Hawaii)
x Dental plans
x Vision plans
x Life insurance plans
x Paid vacations, paid holidays, and paid sick leaves
= You are required to:
x Allow employees time off to serve on a jury, vote, or
perform military service
x Comply with all requirements of worker¶s compensation
x Withhold for FICA and FUTA
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= http://www.toolkit.cch.com/text/P05_4265.asp
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!

= http://my.execpc.com/~dtomorsk/
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= The Vmployee Ôenefits Security

Administration (VÔSA) provides compliance
assistance.
= http://www.dol.gov/ebsa/


   
 

= http://www.dol.gov/dol/topic/health-
plans/index.htm
½ ' |
 

= Worker¶s compensation laws are designed to

protect employers from litigation if an
employee is injured while on the job.
= Worker¶s compensation also ensures the
injured party compensation.
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= Worker¶s Compensation laws vary from state
to state.
= http://www.toolkit.cch.com/text/P05_4403.asp
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= http://www.law.cornell.edu/wex/index.php/Wo
rkers_compensation
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= http://www.smallbusinessnotes.com/operatin
g/hr/compensation.html
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= http://sbs.adp.com/
 ½
= http://sbs.adp.com/
= http://www.inc.com/home/
= http://my.execpc.com/~dtomorsk/
= http://www.ifebp.org/
= http://www.ebri.org/
= http://www.dol.gov/ebsa/compliance_assistance.html#section7
= http://www.dol.gov/ebsa/welcome.html
= http://www.smallbusinessnotes.com/operating/hr.html
= http://www.sba.gov/
= http://www.toolkit.cch.com/text/P05_4250.asp
= http://www.law.cornell.edu/wex/index.php/Workers_compensatio
n