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  • CM Ben

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    This document discusses employee benefits and services provided by governments and employers. It outlines seven main categories of benefits: 1) disability income continuation, 2) loss of job income continuation, 3) deferred income, 4) spouse or family income continuation, 5) health and accident protection, 6) property and liability protection, and 7) perquisites. Within each category, specific benefit plans and programs are listed, such as short-term disability, pensions, unemployment insurance, life insurance, and health plans. Benefits administration involves benefits planning and design as well as communication. Critical issues include the role of government benefits, employee demographics, ability to pay, and self-funding options.

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    This document discusses employee benefits and services provided by governments and employers. It outlines seven main categories of benefits: 1) disability income continuation, 2) loss of job income continuation, 3) deferred income, 4) spouse or family income continuation, 5) health and accident protection, 6) property and liability protection, and 7) perquisites. Within each category, specific benefit plans and programs are listed, such as short-term disability, pensions, unemployment insurance, life insurance, and health plans. Benefits administration involves benefits planning and design as well as communication. Critical issues include the role of government benefits, employee demographics, ability to pay, and self-funding options.

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    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
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    7 views10 pages

    CM Ben

    Uploaded by

    chin2dabgar
    This document discusses employee benefits and services provided by governments and employers. It outlines seven main categories of benefits: 1) disability income continuation, 2) loss of job income continuation, 3) deferred income, 4) spouse or family income continuation, 5) health and accident protection, 6) property and liability protection, and 7) perquisites. Within each category, specific benefit plans and programs are listed, such as short-term disability, pensions, unemployment insurance, life insurance, and health plans. Benefits administration involves benefits planning and design as well as communication. Critical issues include the role of government benefits, employee demographics, ability to pay, and self-funding options.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pptx, pdf, or txt
    of 10

    Benefits and services

    Employee benefits are those compensation


    components made to employee that provide
    1. Protection in case of health and accident related
    problems and
    2. Income at some future date or occasion
    The government’s welfare plan includes
    1. Health and accident plan
    2. Group life insurance plans
    3. Dependent care plans
    4. Education assistance plans
    5. Group legal service plans
    6. Welfare benefits funds such as, Volantory Employee
    Benefits Association( VEABs),
    Supplimentalunemployement Benefit Insurance (SUBs)
    and Group Legal Service Trust (GLSTs)
    7. Cafeteria plans
    Benefits administration
    Two important part
    • Benefits planning and design and
    • Benefits communication
    Some critical issues in benefits planning
    1. Current and future role of government mandated
    benefits
    2. Employee demographic and preferences
    3. Employer ability to pay and employee contributions
    4. Self funding and third party administration
    5. Monitoring and auditing
    Employee benefits classified in under seven
    group
    1. Disability income continuation
    2. Loss of job income continuation
    3. Deferred income
    4. Spouse or family income continuation
    5. Health and accident protection
    6. Property and liability protection
    7. A special group of benefits and services
    ………………..called perquisite.
    1. Disability income continuation
    1) Short term disability or sickness and accident plans
    2) Long term disability (LTD)
    3) Workers’ compensation
    4) Nonoccupational (temporary) disability
    5) Social security
    6) Travel accident insurance
    7) Sick leave
    8) Supplement disability insurance
    9) Accidental death and dismemberment
    10) Group life insurance: total permanent disability (TPD)
    11) Retirement plans
    2. Loss of job income continuation
    1) Unemployment insurance (UI)
    2) Supplement unemployment benefit insurance (SUB)
    3) Guaranteed annual income (GAI)
    4) Guaranteed income plans (GIS)
    5) Individual account plan
    6) Severance pay
    7) Job contract
    8) Short time compensation program
    3. Deferred income
     Social security  Stock purchase plan
     Qualified income
     Stock option plan
    • Pension plan
    • Profit sharing plan  Stock grant
    • Stock bonus plan  Deferred income plans
     Simplified employee pension
    plans (SEPs)  Granter trusts (rabbi
     Keogh, IRA, and 401 (k) trust)
    plans
     Supplemental executive
    retirement plans (SERPs)
     Supplemental and executive
    group life insurance plans
    • Section 79
    • Spilt dollar
    • Group universal life plans
    3. Spouse or family income continuation
    Life insurance
    Retirements plans

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