DOCSLIB.ORG

Summary of Employee Benefits 2020-08 for Broker

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Summary of Employee Benefits 2020-08 for Broker CITY OF ROCKVILLE SUMMARY OF EMPLOYEE BENEFITS The following is a brief summary of the major benefits provided to new full-time, regular employees. Part-time, regular employees working more than 20 hours per week may be entitled to these benefits on a pro-rated basis in accordance with Rockville City Laws and personnel policies and procedures. Certain designated seasonal employees (working 9 months, 20 hours per week) are entitled to a limited benefits package. With the exception of Sick and Safe Leave, benefits are not available to temporary employees. Details about benefits and costs for full-time and part-time employees are available from the Human Resources Department. Group Insurance Plans Health Insurance Participation is available in one of six health insurance plans, with Aetna or Kaiser Permanente (listed below). The City contributes toward the premium for each plan. Start date of coverage is the date of hire or the first of the month following date of hire. Visit www.aetna.com to locate participating providers in the Open Access Plus network. Visit www.kp.org to locate participating providers in the Maryland/Virginia/Washington DC area. ➢ Aetna Open Access Plus $30/$40 ➢ Aetna Open Access Plus $30/$40 90%/Deductible ➢ Aetna Open Access Plus Health Reimbursement Account ➢ Aetna Open Access Plus Point of Service ➢ Kaiser Permanente HMO ➢ Kaiser Permanente Point of Service Dental Insurance Participation is available in one of two dental insurance plans with Guardian. Visit www.guardiananytime.com to search for providers within the DentalGuard Preferred network. The City contributes a portion of the cost of each employee's dental coverage. If dental coverage is waived, the City's contribution is reallocated toward the employee's health insurance cost. Start date of coverage is the first of the month following date of hire. Vision Insurance City of Rockville offers a voluntary vision plan with VSP. Visit www.vsp.com to locate a participating provider. Members have a $130 allowance (in-network) for lenses/frames or contacts. For exams, frames, lenses, or contact lenses obtained out-of-network, members will be reimbursed for a portion of their expenses. Group Life Insurance The City provides basic life insurance, through MetLife, equal to one and one-half times an employee's base salary, to a maximum benefit of $250,000. The City pays the premium for this benefit. Employees have the option of purchasing supplemental life insurance coverage for themselves and their spouse and/or dependent child(ren). New employees electing coverage within their first 30 days will not be required to provide evidence of insurability for certain levels of coverage. Long-Term Disability (LTD) Insurance Employees who have been employed at the City for 12 months will be eligible for LTD insurance coverage. After meeting a 15 calendar day waiting period and exhausting all of their own leave. employees will be eligible to receive leave from the Short-Term Disability Leave Bank. This process allows for continuity of pay during the elimination period. For approved claims, LTD insurance will pay 60 percent of an employee’s salary, to a maximum monthly benefit of $10,000. Employees may supplement the LTD benefit with their own leave, for up to 9 months of LTD benefits. Between LTD payments and employees’ own leave, an employee may not receive more than 100% of their pay. The benefit for approved LTD claims may continue to Social Security Normal Retirement Age (SSNRA) or for a maximum benefit period (for employees who are age 60 or over), whichever is later. Retirement Plans The City's retirement program consists of a defined benefit (pension) portion and a defined contribution (thrift) portion. Defined Benefit (Pension) Plan The defined benefit portion of the retirement plan is based on a percentage of average annual salary multiplied by length of credited service. Administrative employees are required to contribute 1.0% of their earnings on a pre-tax basis to the plan. Union employees do not contribute to the plan. Normal retirement age is 65 for employees hired on or after July 1, 2011. Vesting occurs after ten (10) years. Sworn police officers are required to contribute 8.5 percent of their earnings on a pre-tax basis to the defined benefit plan. Normal retirement for police officers is permitted at the earlier of age 60 or after 25 years of service, regardless of age. Benefits at retirement are based on a percentage of final average earnings multiplied by length of credited service. Defined Contribution (Thrift) Plan Administrative and Union employees must contribute between one (1) and five (5) percent of their base salary, on a pre-tax basis, to the defined contribution plan. The deferral election is made at the time of employment and may not be changed. Therefore, employees are advised to give considerable thought to their decision of what percent to contribute. The City will make a matching contribution of fifty (50) cents for each dollar contributed. Employees have different investment fund options in which to direct contributions. The investment direction may be changed. Vesting occurs after three (3) years. Deferred Compensation (457) Plan The deferred compensation plan is an optional plan, which is funded through employee contributions only. The plan makes it possible to defer income and the payment of income taxes on the deferred investment. Employees are eligible to enroll at any time and may change contribution amounts at any time. Employees may defer, on a pre-tax basis, a minimum of $10.00 per pay period up to the current IRS limit. The plan is not meant for short-term savings or investment purposes as monies deferred are generally not available until termination or retirement. Roth 457 Plan The Roth 457 is an optional plan, funded through employee contributions only. Employees are eligible to enroll at any time and may change contribution amounts at any time. Employees may defer, on a post-tax basis, a minimum of $10.00 per pay period up to the current IRS limit. Flexible Spending Accounts (FSAs) FSAs allow employees to set money aside on a pre-tax basis for eligible unreimbursed health care, dependent care, and/or commuter expenses. Upon hire and prior to the beginning of each 2 calendar year, employees have the opportunity to estimate the amount of their eligible expenses and have that amount deducted from their pay. Employees avoid paying federal, state, and Social Security taxes on the total amount of their deferral. An employee may use an FSA debit card to pay for eligible expenses, or may pay out of pocket and submit receipts in order to be reimbursed from their account. Below are the 2020 participation limits: ➢ Health care: $300 annual minimum; $2,750 annual maximum ➢ Dependent care: $500 annual minimum; $5,000 annual maximum ➢ Commuter expenses: $270 monthly parking maximum; $270 monthly transit maximum Additional Benefits Legal Resources City of Rockville offers a voluntary pre-paid legal plan through Legal Resources. By electing coverage and selecting a participating law firm, many legal services are covered at 100% for employee, spouse, and qualifying dependents. Additional services are covered at a 25% discount off the law firm’s hourly rate. The 25% discount is also available to participating employees’ parents and parents-in-law. Employee Assistance Program (EAP) The City provides free (up to 6 sessions), confidential counseling, assessment, and referral services to help employees deal with personal problems. Trained, certified employee assistance counselors are available 24 hours a day, 7 days a week. The EAP is also available for family members. Leave Annual Leave Annual leave ranges from 16 to 23 days per year depending upon the length of service with the City. Leave may be used as it is accrued with the permission of the employee's supervisor. Annual leave is paid at separation if the employee has completed at least six months of service. An employee normally accrues annual leave in the following manner: Months of Service Monthly Vacation Accrual in Hours (37.5 hrs/wk)/(40 hrs/wk) 1-24 Months 10.00 / 10.40 25-60 Months 11.53 / 12.40 61-96 Months 13.08 / 14.00 97+ Months 14.23 / 15.20 3 Holidays Employees generally receive the following 10 holidays per year. New Year's Day Election Day Martin Luther King, Jr. Day Veterans' Day Presidents' Day Thanksgiving Day Memorial Day Thanksgiving Friday Independence Day Christmas Day Labor Day The City also observes all days of general and congressional elections throughout the State of Maryland. This holiday falls on even numbered years. Union employees and certain other employees may receive different holidays in accordance with the terms of a contractual agreement. Sick and Safe Leave Regular full-time and part-time employees earn leave monthly at the rate of 1.25 days per completed month of service. Seasonal and temporary employees who work at least 24 hours in a pay period accrue leave as it is earned (i.e., 1 hour of leave for every 30 hours worked) but may not use the leave until employed for 106 calendar days. Social Security Regular employees receive employer contributions to Social Security (also known as FICA). Social Security benefits are available in accordance with Federal law. Credit Union Employees may participate in the Montgomery County Employees Federal Credit Union, conveniently located at Courthouse Square in Rockville. This credit union also participates in Family Service Center with shared branches available throughout the metropolitan area. Services include savings and checking accounts, loans, payroll deduction, and direct deposit. 4 .
Load more

Recommended publications
  • Partner Compensation: Partners As Employees? by Jeffery R
    feature article Partner Compensation: Partners as Employees? by Jeffery R. Schaffart and Joshua K. Norton Attorneys frequently structure businesses as limited liability In these situations, one of the first planning issues to companies that are taxed as partnerships for federal income tax consider is whether the owners who provide services to the purposes. This structure is often compelling because it com- company should be treated as self-employed partners or as bines limited liability for state law purposes with flow-through employees. Although many entities taxed as partnerships taxation for federal income tax purposes. Unlike subchapter S for federal income tax purposes may treat their owners who corporations (which also combine limited liability and flow- provide services as employees for simplicity and because the through taxation), limited liability companies taxed as partner- service providers often prefer this treatment, under Rev. Rul. ships for federal income tax purposes do not face ownership 69-184, it has long been the rule that “[b]ona fide members restrictions and allow for flexible allocations of profits and of a partnership are not employees of the partnership within losses. These attributes make limited liability companies taxed the meaning of the Federal Insurance Contributions Act, the as partnerships for federal income tax purposes very attractive Federal Unemployment Tax Act, and the Collection of Income to private equity sponsors and other institutional investors. Tax at Source on Wages. Such a partner who devotes his It is also very common for limited liability companies time and energies in the conduct of the trade or business of that are taxed as partnerships for federal income tax purposes the partnership, or in providing services to the partnership as to have owners who provide services to the company.
    [Show full text]
  • Employee Handbook 2017-2018
    Employee Handbook 2017-2018 2222 Broadway & 1715 Octavia San Francisco Ph. 415.563.2900/415.345.5811 www.sacredsf.org Schools of the Sacred Heart – San Francisco 2017-18 Employee Handbook 1 TABLE OF CONTENTS Chapter 1: INTRODUCTION 8 History 9 Philosophy 9 Notable Figures 9 Traditions and Terms 10 Sacred Heart Commission on Goals (SHCOG) 10 Organization Chart UPDATED 11 Administration 12 Hours of Operation 12 Campus & Facility Maps 13 Chapter 2: EQUAL OPPORTUNITY 15 Equal Employment Policy 15 Request for Accommodation 16 Policy Against Harassment 16 Suspected Child Abuse and Reporting 19 Whistleblower Policy 20 Problem Resolution/Arbitration 22 Chapter 3: EMPLOYMENT POLICIES 23 Employment Definitions 23 Conditions of Employment 23 Goals & Criteria 23 Employment Authorization 23 DOJ and FBI Fingerprint Clearance 24 Shield the Vulnerable Training & Child Abuse Acknowledgment 24 Tuberculosis Testing 24 Transcripts 24 Employment Agreements and Renewal/Non-Renewal 24 Probationary Period 25 Term 25 Performance Evaluation 25 Disciplinary Procedures 25 Termination for Cause 26 Voluntary Termination 26 Exit Interviews 27 Evaluation and Employment Agreement Timeline 28 Employee Records 29 Employment Verifications and References 29 Distribution of Contact Information 29 Schools of the Sacred Heart – San Francisco 2017-18 Employee Handbook 2 Media Contacts 29 Publicity 30 Chapter 4: PRINCIPLES OF CONDUCT 31 School Ethics 31 Interactions and Communications with Students 31 Hazing/Bullying/Harassment Amongst Students 33 Community Relations 33 Dress
    [Show full text]
  • Faqs About Retirement Plans and ERISA
    FAQs about Retirement Plans and ERISA U.S. Department of Labor Employee Benefits Security Administration What is ERISA? The Employee Retirement Income Security Act of 1974, or ERISA, protects the assets of millions of Americans so that funds placed in retirement plans during their working lives will be there when they retire. ERISA is a federal law that sets minimum standards for retirement plans in private industry. For example, if your employer maintains a retirement plan, ERISA specifies when you must be allowed to become a participant, how long you have to work before you have a non-forfeitable interest in your benefit, how long you can be away from your job before it might affect your benefit, and whether your spouse has a right to part of your benefit in the event of your death. Most of the provisions of ERISA are effective for plan years beginning on or after January 1, 1975. ERISA does not require any employer to establish a retirement plan. It only requires that those who establish plans must meet certain minimum standards. The law generally does not specify how much money a participant must be paid as a benefit. ERISA does the following: Requires plans to provide participants with information about the plan including important information about plan features and funding. The plan must furnish some information regularly and automatically. Some is available free of charge, some is not. Sets minimum standards for participation, vesting, benefit accrual and funding. The law defines how long a person may be required to work before becoming eligible to participate in a plan, to accumulate benefits, and to have a non-forfeitable right to those benefits.
    [Show full text]
  • Employee Benefits
    SIGNATURE BANK® 2015 CIGNA EMPLOYEE BENEFITS WELL-BEING AWARD In addition to our excellent career opportunities and competitive RECIPIENT compensation, Signature recognizes the importance of providing a comprehensive benefits program. The following is a partial list of the benefits Signature currently offers: MEDICAL TUITION REIMBURSEMENT Medical benefits are offered through Cigna’s Open Access Tuition reimbursement is available to eligible employees Plus network. You have the option to choose from three Open who have completed six months of employment. Signature Access Plus High Deductible Medical Plans with Health will reimburse up to $10,000 for approved courses in Savings Accounts which is co-funded by Signature Bank. accordance to the HR policy. DENTAL WELLNESS BENEFITS Eligible employees have a choice of dental options that have Signature Bank, recipient of Cigna’s 2015 Well-Being a variety of deductibles, annual and lifetime maximums and Award, is committed to employee health and well-being. out-of-pocket limits. Dental benefits are offered through Delta Dental’s large network. Two options are Deltacare We offer the following: USA DMO and PPO/Premier Plan. Gym Membership Fee Reimbursement Gym Discounts VISION Corporate Wellness Challenges The vision care plan provides coverage such as annual Onsite Biometric Screenings, Flu Shots and Health vision exam and expenses toward eyeglasses or contact Fairs lenses for covered employees and eligible dependents. The Wellness Seminars and Webinars total cost of this program is paid for by Signature. OTHER BENEFITS AND PROGRAMS FLEXIBLE SPENDING ACCOUNTS This benefit helps employees to pay for eligible health Paid Time Off – Vacation days, Personal Days, Sick care expenses (not paid by insurance,) dependent day Days, and Holidays care expenses, transit, and parking expenses using pre-tax Employee Referral Cash Bonus dollars contributed from their pay and allows for tax savings Short Term Disability with salary continuation and at the same time.
    [Show full text]
  • IMAGINE SCHOOLS Employee Handbook
    IMAGINE SCHOOLS Employee Handbook August 2019 THIS PAGE IS INTENTIONALLY LEFT BLANK Welcome to Imagine Schools! Dear Imagine Colleagues, On behalf of the entire Imagine Schools community, it is our honor and pleasure to welcome you as a member of the Imagine Schools family. We are pleased that you have chosen Imagine Schools as part of your professional path and wish you great success and joy at work. Imagine Schools is a unique organization of committed, caring, and highly talented individuals. Our focus is on helping parents educate their children. We need your help to achieve this goal by providing high-quality education that prepare students for lives of leadership, accomplishment and exemplary character. In the spirit of integrity, justice, and fun, we believe that you can contribute directly to Imagine Schools’ success, and trust that you will take pride in being a member of our family, knowing that the work we do every day is dedicated to developing the intellect and character of the children who attend our schools. We are confident that your employment here will be a challenging, enjoyable, and a rewarding experience. We encourage you to continuously learn, grow, and celebrate as your work has profound meaning and purpose. We are honored you have chosen us and look forward to the great things that you will accomplish. Yours truly, Barry Sharp Jason Bryant CEO and President CEO and President Imagine Schools Non-Profit, Inc. Imagine Schools, Inc. Table of Contents WHO WE ARE .........................................................................................................................................................................
    [Show full text]
  • Employee Benefits in the United States, March 2020
    National Compensation Survey: Employee Benefits in the United States, March 2020 U.S. Department of Labor Eugene Scalia, Secretary U.S. Bureau of Labor Statistics William W. Beach, Commissioner September 2020 Bulletin 2793 Contents Overview Civilian tables Private industry tables State and local government tables Technical note Appendix table 1: Survey establishment response Appendix table 2: Number of workers represented Overview The National Compensation Survey (NCS) provides comprehensive measures of compensation cost trends and the coverage, costs, and provisions of employer-sponsored benefits in the United States. This bulletin presents 2020 estimates of the incidence and key provisions of employer-sponsored benefits for civilian workers, private industry workers, as well as state and local government workers by worker and establishment characteristics. Estimates are also accessible in Excel format and through the benefits database. Estimates for prior years and additional benefits publications are available on the NCS publications page. U. S. Bureau of Labor Statistics (BLS) staff designed the survey, collected and reviewed the survey data, and prepared survey estimates for publication. For information about the survey design, concepts, and calculations see the Handbook of Methods: National Compensation Measures. The survey could not have been conducted without the cooperation of the many private businesses and state and local government agencies and jurisdictions that provided benefits data. BLS thanks these respondents for their cooperation. Additional information for survey respondents is available on the National Compensation Survey (NCS) Respondents page. For more information on benefits estimates, contact National Compensation Survey staff by: Email: Online form Telephone: (202) 691-6199 (Monday–Friday, 8:30 a.m.
    [Show full text]
  • Federal Employment Laws by Employer Size
    Provided by Sullivan Benefits Federal Employment Laws by Employer Size EMPLOYERS OF ALL SIZES An employer’s size, or number of employees, is a key factor in determining which federal labor laws the employer must comply with. • Equal Pay Act Some federal labor laws, such as the Equal Pay Act, apply to all • Fair Labor Standards Act employers, regardless of size. However, other laws, such as the Family and Medical Leave Act, only apply to employers that reach a certain • Occupational Safety and Health Act employee count. • Immigration Reform and Control Employers should be aware of the federal labor laws that may apply to Act their company based on their size. This is especially important for • Employee Retirement Income employers that have fluctuating workforce numbers or that are Security Act considering hiring additional employees. In general, the more employees that an employer has, the more compliance obligations it will EMPLOYERS WITH 50+ EMPLOYEES have under federal labor laws. • Family and Medical Leave Act This Compliance Overview provides a guide of key federal labor laws • Affordable Care Act – employer that apply based on employer size. Most states also have their own shared responsibility rules labor and employment laws. This summary does not address state labor laws, and it also does not address additional compliance requirements • Fair employment laws, such as the for companies that contract with the federal government or businesses Americans with Disabilities Act and the Title VII of the Civil Rights Act in specific industries. • Consolidated Omnibus Budget LINKS AND RESOURCES Reconciliation Act • DOL’s “FirstStep Employment Law Advisor” helps companies determine which labor laws apply to their business • DOL’s webpage that includes links to each state’s labor office • EEOC’s compliance resources for employers and small businesses This Compliance Overview is not intended to be exhaustive nor should any discussion or opinions be construed as legal advice.
    [Show full text]
  • Employee Handbook
    Personnel Handbook TABLE OF CONTENTS Preface Welcome ……………………………………………………………………………. 4 Introduction …………………………………………………………………………. 5 Mission ……………………………………………………………………………… 5 Vision ………………………………………………………………………………… 5 Employment Relationship …………………………………………………………… 5 SECTION I – General Policies Equal Employment Opportunity ……………………………………………………… 6 Harassment/Bullying/Sexual Harassment ……………………………………………. 6 Compliance Officers …………………………………………………………………. 7 Non-Discrimination …………………………………………………………………… 7 Family Educational Rights & Privacy Act (FERPA)…………………………………. 7 Public Record …………………………………………………………………………. 8 Smoke Free Environment ……………………………………………………………... 8 Alcohol/Drug Free Environment ……………………………………………………… 8 Weapons on the Property ……………………………………………………………… 8 Emergency Closings …………………………………………………………………… 9 SECTION II – Employment Practices Recruitment of Employee ……………………………………………………………… 10 Interviewing Candidate ………………………………………………………………… 10 Employment Classification ……………………………………………………………. 10 Promotion & Transfer …………………………………………………………………. 11 Professional License …………………………………………………………………… 11 Personnel Records ……………………………………………………………………… 11 Change of Name, Address or Telephone ……………………………………………. 11 Working Schedules ……………………………………………………………………. 12 Clocking IN & Out …………………………………………………………….………. 12 Meal Periods ……………………………………………………………………………. 12 Pay Days ………………………………………………………………………………… 12 Paycheck Deductions ………………………………………………………………… 12 Overtime ………………………………………………………………………………… 12 ID Badges ………………………………………………………………………………... 13 Evaluation of
    [Show full text]
  • New Employee Benefits Guide Plan Year 2022
    New Employee Benefits Guide PLAN YEAR 2022 September 1, 2021 - August 31, 2022 For employees of: Higher education institutions (except the University of Texas and Texas A&M University systems) Community Supervision and Corrections Department Teacher Retirement System Texas Municipal Retirement System Texas County & District Retirement System Windham School District A message from ERS Executive Director Porter Wilson Congratulations on your new job! Let me be among the first to welcome you to public service. In your new position, you earn valuable benefits that are designed to help you enhance your physical, mental and financial well-being. The decisions you make—some of which you must make during your first few weeks on the job—will affect your health care, financial security and take-home pay. I encourage you to take time to read about your options in this guide, so you can make informed choices in your first 31 to 60 days of employment. Then, make the most of your benefits throughout your employment. At the Employees Retirement System of Texas, we’re proud to support excellence in public education and service by administering health insurance and other benefits to state agency and higher education employees and their families. We’re committed to supporting you as you serve your fellow citizens. This New Employees Benefits Guide provides the information you need to your benefits to your full advantage. For more information, visit the ERS website at www.ers.texas.gov. Sincerely, Porter Wilson Executive Director Employees Retirement System of Texas The New Employee Benefits Guide for Plan Year 2022 highlights benefits that are effective at the time of publication.
    [Show full text]
  • EMPLOYEE BENEFITS GUIDE City of West Allis March 1, 2021 - February 28, 2022
    EMPLOYEE BENEFITS GUIDE City of West Allis March 1, 2021 - February 28, 2022 Contact Information Benefit Provider Phone # Website / Email Ask Allis City of West Allis askallis.westalliswi.gov Brighthouse Financial (414) 615-4865 [email protected] (Michael Russo) Deferred Compensation ICMA Investor Services (866) 328-4677 [email protected] Program (Brad Smith) WI Deferred [email protected] (877) 457-9327 Compensation Program wdc457.empower-retirement.com Dental Benefits CarePlus (800) 318-7007 www.careplusdentalplans.com (CarePlus Prepaid) Dental Benefits Anthem (800) 331-1476 www.anthem.com (Standard Plan) Employee Assistance Aurora Health Care (800) 236-3231 www.Aurora.org/eap Program (EAP) Family Savings Plan Network Health (262) 825-9660 www.networkhealth.com Flexible Spending Account Employee Benefits (800) 346-2126 www.ebcflex.com (FSA) Corporation Go365 Humana www.go365.com Health Savings Account Tri City National Bank (888) 874-2489 www.tcnb.com HealthJoy HealthJoy (877) 500-3212 www.healthjoy.com Human Resources City of West Allis (414) 302-8270 [email protected] WI Dept. of Employee Life Insurance (877) 533-5020 www.etf.wi.gov Trust Funds (ETF) Long-Term Disability Reliance Standard (800) 351-7500 www.reliancestandard.com Medical Benefits Anthem (800) 331-1476 www.anthem.com Nurse Liaison (Jane King) Aurora Health Care (414) 640-6281 [email protected] Pharmacy Benefits Serve You Rx (800) 759-3203 www.serve-you-rx.com Travel Assistance Reliance Standard (800) 351-7500 www.reliancestandard.com Vision Plan Superior Vision (800) 507-3800 www.superiorvision.com WRS Retirement Benefit WI Dept. of Employee (877) 533-5020 www.etf.wi.gov (Pension) Trust Funds (ETF) 2 New for 2021/2022 No Plan Design Changes There will be no health, dental, or vision plan design changes for the 2021/2022 plan year, including no changes to amounts relating to deductibles, copays, and out-of-pocket maximums.
    [Show full text]
  • The Economics of Employee Benefits
    THE ECONOMICS OF EMPLOYEE BENEFITS Darren Lubotsky Department of Economics and Institute of Labor and Industrial Relations University of Illinois at Urbana-Champaign August 2004 Chapter prepared for Employee Benefits: A Primer for Human Resource Professionals, 2nd edition, by Joseph Martocchio Reining in runaway health care costs should top the next U.S. president's to-do list, General Motors Corp. chairman and chief executive Rick Wagoner said Friday. The winner of the November election should convene a bipartisan panel to craft and implement a strategy for dealing with a problem that threatens to wreck the nation's competitiveness, Wagoner said. "It is well beyond time for all of us to put partisan politics behind us and get together to address this health-care crisis," he said in remarks to the Detroit Regional Chamber's annual Mackinac policy conference. "While we all love the benefits of our dynamic and innovative health-care system, the rising cost is leaving many millions of people without the proper care they need, and making U.S. businesses uncompetitive on a global basis." From “Controlling health care costs key to competitiveness, business leaders say,” The Detroit News, June 4, 2004 By John Flesher, Associated Press If health insurance and other benefit costs really do harm U.S. businesses, why do so many firms offer these benefits? Why not pay workers a higher salary and let them buy insurance on their own? Do benefit costs, in fact, reduce the profits of U.S. firms? These are the topics to be explored in this chapter. WHY DO FIRMS OFFER BENEFITS? Most firms compensate employees with some combination of cash plus benefits such as health insurance.
    [Show full text]
  • Deluxe Benefits Guide
    DELUXE BENEFITS GUIDE Welcome to Deluxe. The following brochure includes an overview and information about the Total Rewards package you are eligible to receive. Please take the time to review and learn about the different benefits and coverages that are available to you and your family. If you have any questions, please contact your Human Resources business partner. $ PAYROLL Salaried • Paid semi-monthly on the 15th and the last day of the month. If the 15th or the last day falls on a weekend or holiday, you will be paid on the prior business day Hourly • Paid weekly on Thursdays for prior week’s work – Work week is Sunday to Saturday – If a company recognized holiday falls on a Thursday, you will be paid the prior business day HEALTH & INSURANCE PLAN ELIGIBILITY Deluxe offers coverage to employees who are regularly scheduled to work 20 or more hours per week. Family members who are eligible to receive Health & Insurance Plan benefits include: • Your legally married spouse or domestic partner • Children up to age 26 who are your: – Biological child(ren) – Legally adopted child(ren) – Stepchild(ren) living with you – Child(ren) who are eligible to be claimed on your income tax return and live with you in a parent-child relationship at least 50% of the time – Children for whom you are a legal guardian, as defined by a court order or where a court order requires you to provide medical insurance for children who are eligible for Deluxe coverage 1 HEALTH & INSURANCE PLANS You have choices in your medical options through Deluxe.
    [Show full text]