HR Digest

OCTOBER 22, 2023

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. Can Employers Deduct Fringe Benefits? Again, whether a benefit is fully deductible or not depends on the IRS and the limitations that have been set.

401(k) 52

401(k) Employee Stock Option Deductible Deductions 52

Higginbotham

JANUARY 18, 2022

Health Insurance. Other Insurance (Dental Insurance, Vision Insurance, Life Insurance, Disability Insurance, Pet Insurance, etc.). Company A also offers a 401(k) with contribution matching. In addition to the $80,000 salary, Company B offers a high-deductible health plan.

401(k) 52

401(k) Disability Insurance Salary Life Insurance 52

Business Management Daily

NOVEMBER 12, 2019

Talking to Accounts Payable, Benefits, HR and the executive compensation committee is vital, but you also need to reach out to all employees: Send reminders to employees about name changes, Social Security numbers, W-4s (especially critical this year-end), beneficiaries, 401(k) information and direct deposit. 3: Use the data.

roth 401(k) 8

roth 401(k) 401(k) Payroll Executive Compensation 8

Higginbotham

OCTOBER 14, 2022

Disability Insurance and Life Insurance. Health insurance is a key element of any employee benefits package, but small business owners should consider offering other benefits as well. Life insurance is a popular choice. Disability insurance is another popular option. Other Key Benefits.

Employee Benefits 52

Employee Benefits Family and Medical Leave Act Disability Insurance Paid Sick Leave 52

Insperity

AUGUST 9, 2016

To attract talent and compete effectively, many businesses first elect to offer: Health insurance – Due to the rising costs of health care, this is a must in the eyes of many employees. Choosing a high-deductible plan may help you pay less in premiums, but requires your employees to cover more of their costs out of pocket.

Banking 52

Banking Employee Benefits Disability Insurance 401(k) 52

Insperity

MARCH 12, 2024

Other types of insurance If an employee loses their ability to earn an income on a temporary or permanent basis, certain types of insurance can help protect their families and livelihoods. Disability insurance , provides employees with replacement income and pays for medical bills if they become disabled and are no longer able to work.

Family and Medical Leave Act 59

Family and Medical Leave Act Employee Benefits PTO 401(k) 59

Griffin Benefits

NOVEMBER 23, 2021

Such risks can manifest themselves in larger out-of-pocket expenses, or cash flow issues at the beginning of the plan year, while they work to satisfy their deductible. Some of these decisions, such as foregoing healthcare, disability, and life insurance, could prove catastrophic.

401(k) 56

401(k) Retirement Plan Healthcare Life Insurance 56

Business Management Daily

SEPTEMBER 25, 2020

Identify new outsiders, such as third-party 401(k) plan administrators or third-party payers of sick pay, with whom you’ll be working. Send memos to employees showing the next year’s paydays, the new Social Security taxable wage base, 401(k) pretax limit and state unemployment/disability. wage bases, if applicable.

Payroll 40

Payroll 401(k) Taxes Deductible 40

Higginbotham

NOVEMBER 2, 2023

A 401(k) plan is a popular example of a defined contribution plan. Plus, employers can require workers to pay some or all the premium costs through payroll deductions. Life insurance is a staple of financial preparedness. Disability insurance is another important product for financial health.

401(k) 52

401(k) Disability Insurance Benefits Package Insurance 52

Genesis HR Solutions

APRIL 23, 2020

Types of benefits include: Health and welfare benefits: Typically medical, dental, vision, disability, and life insurance products. Pre-tax savings plans can also be included here, as well as ancillary benefits like accident, illness, and pet insurance. Retirement benefits: 401(k), 403(b), 457(b) retirement plans and IRAs.

Health and Welfare 52

Health and Welfare Electronics 401(k) PTO 52

Genesis HR Solutions

AUGUST 9, 2018

Insurance types: Medical, dental, vision, disability, and life insurance plans. 401(k) and retirement plans. Deductions must be set up in payroll and carrier invoices must be paid each month. When deductions aren’t added to employees’ paychecks in time, the employer assumes all the additional cost.

Employee Benefits 40

Employee Benefits 401(k) Health Insurance Insurance Carriers 40

Business Management Daily

SEPTEMBER 15, 2021

Medical plans with no or low-cost deductibles. Insurance that is accepted at a greater range of places. The company paying a higher portion of the insurance premium. Organizations also frequently provide employees with free or low-cost life insurance. Outstanding pharmaceutical and/or hospitalization coverage.

Benefits Package 52

Benefits Package Family and Medical Leave Act Health Insurance PTO 52

Employee Benefits

DECEMBER 22, 2023

These individuals are 5% less likely to have a 401(k) or retirement plan and 12% less likely to have an IRA. Married individuals can file jointly to receive a combined standard deduction of $27,700. These couples were rejected from a mortgage 73% more often than heterosexual couples, received interest rates at.2%

401(k) 105

401(k) Health Insurance Finance Taxes 105

Vantage Circle

FEBRUARY 26, 2025

For instance, contributions to health insurance premiums and retirement plans can be tax-deductible for employers, while employees may receive these benefits tax-free. Life Insurance: Providing Security for Families Life insurance ensures employees’ loved ones are financially protected in case of unexpected events.

Family and Medical Leave Act 59

Family and Medical Leave Act Employee Benefits Disability Insurance Benefits Package 59

McNees

JANUARY 19, 2021

Similar to the COVID distributions, a 401(k) may allow “qualified disaster distributions” up to $100,000 that will not be subject to the 10% early withdrawal penalty. The amounts paid by the participant must be applied toward the participant’s deductible and out-of-pocket limits. Excess Pension Asset Transfers.

Employee Benefits 40

Employee Benefits Flexible Spending Health Insurance Pension 40