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These executive summaries were compiled from EMPLOYEE BENEFITS INFOSOURCE database, a source for information on employee benefits and human resources.
Deductions From Final Paychecks Under the FLSA: A Mixed Bag?
Weitzman, Allan H.; Schwartz, Jurate; Journal of Compensation and Benefits; v26 no3 pp 16-21 May-Jun 2011; journal article
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The Federal Labor Standards Act (FLSA) views the legality of some final pay deductions differently depending on the exempt or nonexempt status of the employee. If a nonexempt employee or outside sales worker were to use vacation time before officially accruing it, an employer can deduct the value of time from a final paycheck, but not for an exempt employee. Deductions for advanced allowances for cars and cell phones, unreturned company uniforms and tuition may be made against nonexempt employees but not exempt workers. The employer's portion of health insurance premiums may legally be deducted from both exempt and nonexempt employees' final paychecks.
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Deductions From Final Paychecks Under the FLSA: A Mixed Bag?
Weitzman, Allan H.; Schwartz, Jurate; HR Advisor: Legal & Practical Guidance; v17 no1 pp 13-18 Jan-Feb 2011; journal article
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Employers and payroll administrators face questions when an employee resigns before earning paid leave already taken, returning company uniforms or taking other benefits without accruing them. Handling the situation depends on several factors, including the employee's exempt or nonexempt status, whether an exempt worker is paid on a salary basis, or a nonexempt worker's pay might fall below minimum wage or discount overtime pay owed. In all cases, the employee must be fully aware of how the employer may recoup advance payments. Employers may be entitled to deductions from final paychecks for overuse of paid leave, car and cell phone allowances, health insurance benefits, company equipment and tuition payments.
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The Handbook of Employee Benefits: Health and Group Benefits.
Rosenbloom, Jerry S., ed.; 977 pp 2011 7th ed.; book
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International Foundation of Employee Benefit Plans
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Broad-based discussion of employee benefits covering: health benefits, life insurance, work/life programs, social insurance programs, employee benefit design and administration and more. Includes recommendations for designing and implementing employee-friendly benefit programs in line with the realities of a cost-conscious business environment. Offers a historical perspective on a specific types of benefit followed by an overview of benefit options and a discussion of current challenges facing benefit providers. Also covers topics such as retiree welfare benefits, multiemployer plans, benefits for small companires and international benefit planning.
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Link To Full Article
U.S. Master Employee Benefits Guide.
Kennedy-Luczak, Kathleen; King, Melanie; Panszczyk, Linda; Potaczek, Carol; Turan, Tulay; 878 pp 2011 2011 ed.; book
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This overview of all non-pension employee benefits discusses federal tax and employment laws and offers insight into daily issues that confront human resources and benefits personnel. Covers communicating benefits information to employees. Analyzes recent changes in the law and government rulings and regulations.
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Tax Benefits for Education.
Zook, John D.; Zook, Kristin L.; Tax Adviser; v41 no7 pp 464-470 Jul 2010; journal article
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Abstract :
Several educational tax benefits are available for individuals pursuing education to support their career. Six types of benefits are excluded from taxation, including educational aid provided by employers and qualified scholarships and tuition reductions. Education savings bond programs, Coverdell education savings accounts or education IRAs are also excepted, as are early IRA distributions for educational purposes and distributions from 529 plans. The Internal Revenue Code details a specific sequence for these tax exceptions. There are also two deductions from adjusted gross income, student loan interest and qualified tuition and related expenses, especially useful for students and recent graduates. Other unreimbursed expenses can be deducted from adjusted gross income if they are directly related to the individual's business or maintain or enhance required skills. The Hope scholarship credit and lifetime learning credit can also offset some educational expenses.
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Nonexempt From Exemplary Benefits.
Koster, Kathleen; Employee Benefit News; v24 no8 pp 40-41 Jun 15, 2010; journal article
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While many employers do not provide hourly workers with all the benefits they need or deserve, the six companies on the inaugural Working Mother list of Best Companies for Hourly Workers are exceptions. The winning companies averaged 87 percent of their workforce in hourly workers. Mariott International won a place on the list by retaining benefits for workers seeing reductions in hours and actively promoting workplace diversity. CCLC, another featured company, allows its employees the opportunity to petition for more or fewer hours and offers intangible benefits such as employee empowerment and customized teaching curriculum. UNM Hospitals has a generous leave policy and rich education programs for employees. The University of Wisconsin Hospital and Clinics offers in house classes and tuition reimbursement for additional education.
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Out of Mind, but Not Out of Sight.
Shutan, Bruce; Employee Benefit News; v24 no7 pp 38-39 Jun 1, 2010; journal article
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Section 529 plans have long been available to help build college savings, but other savings needs have taken precedence for many people. For most employees, a college savings fund is a lower priority than retirement saving in a 401(k) plan, and 529 plans offer no ERISA protection. Some states that run the plans are responding with creative products, such as the Illinois offering with an employer income tax credit for matching contributions. Only five to seven percent of employers offer 529 plans, and participation is low. Employers can promote participation by providing education about 529 plans, including fees and state specific details and by simplifying enrollment. This information can help employees judge the best vehicle for savings for college or other continuing education.
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Employee Benefits Answer Book.
DeScherer, Dorinda D.; Myers, Terence M.; 1215 pp 2010 10th ed.; book
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International Foundation of Employee Benefit Plans
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Comprehensive guidance for employers and professionals involved in the design and administration of employee benefit plans, in a question-and-answer format. Covers regulatory compliance and other benefit issues across a broad range of plan types. Case law summaries, practice pointers and examples are provided.
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U.S. Master Employee Benefits Guide.
Kennedy-Luczak, Kathleen; King, Melanie; Panszczyk, Linda; Turan, Tulay; 840 pp 2010 2010 ed.; book
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Discusses pertinent federal tax and employment laws and offers insight into daily issues that confront human resources and benefits personnel. Covers communicating benefits information to employees. Updates to this edition include: Michelle's Law on health care coverage for dependent students; final regulations on PHI breach notification; HIPAA changes under HITECH; COBRA premium subsidy under the American Recovery and Reinvestment Act; final GINA regulations; Children's Health Insurance Program Reauthorization Act.
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Cuts Plus Creativity Lead Benefits Adjustments Now.
HRFocus; v86 no10 pp S1-S4 suppl. Oct 2009; journal article
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HRfocus released the results of its survey on the benefits changes caused by the 2008 and 2009 recession. The most common recession-related increase in employee benefits was the wellness program, cited by 34 percent of responding HR professionals. All responding health care organizations, 75 percent of real estate and construction respondents and 44 percent of manufacturing respondents said they had increased wellness programs in response to the recession. Employee paid health care deductibles and flexible work schedules were the number two and number three increases, cited by 29.4 percent and 25 percent of respondents, respectively. The most commonly reduced benefits were 401(k) matching contributions and training and education, cited by 28 percent and 27.7 percent of respondents.
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Back-to-School Benefits.
Koster, Kathleen; Employee Benefit News; v23 no12 pp 38-39 Sep 15, 2009; journal article
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Progressive employers are providing educational assistance to employees and dependents. The Internal Revenue Code allows employers to give employees a $5,250 pretax raise to cover tuition reimbursement. Another option for providing educational moneys to employees is a 529 plan. Some employers are also offering their employees backup child care before and after school to keep up productivity. These care arrangements average about $0.75 per employee per month but can yield 9.6 work hours saved for each individual included on the plan.
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Always More to Learn.
Babcock, Pamela; HR Magazine; v54 no9 pp 51-52, 54, 56 Sep 2009; journal article
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United Parcel Service is one of many forward thinking employers who use educational assistance plans for succession planning and promoting employee career development. Most arrangements tie tuition reimbursement to the corporate talent management strategy to encourage retention, develop skills and discourage loss of corporate knowledge. Programs, certificates or courses are typically chosen to serve a worker's current or potential future position. Most employers set eligibility requirements and cost caps and require reimbursement of the tuition when an employee resigns prematurely.
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Most Tuition Aid Programs Hold Steady in Recession.
Managing Benefits Plans; no09-07 pp 1, 11-15 Jul 2009; journal article
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When the Institute for Corporate Productivity surveyed 493 organizations in 2008, over 79 percent had no plans to modify educational support programs for employees. But a substantial number are including tuition assistance among their belt tightening measures. Watson Wyatt found 90 percent offering tuition help in 2008, but 23 percent had cut back by early 2009. Organizations trimming the benefit must consider how widely it is used and how much they can gain by lowering, suspending or eliminating the aid. Tuition reimbursement is likely to become more targeted for certain employee groups or programs, and employers will probably demand more proof of return on their investment.
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Tuition Fruition.
Dolezalek, Holly; Training; v46 no6 pp 43-44 Jul-Aug 2009; journal article
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A 2008 survey of 396 companies of various sizes found 87 percent have tuition assistance programs, but 27 percent do not measure the effectiveness of their programs. Over half see the program as an expected benefit, and decisions are made far from the organizational levels likely to benefit from an employee's learning. Organizations can compare those receiving tuition assistance with others for turnover, position after one or more years, promotions and other factors. For one company, spending for state universities delivered better returns than online schools or prestigious universities. For best results, managers must be involved to coordinate the student's program with organizational needs.
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Fundamentals of Employee Benefit Programs.
527 pp 2009 6th ed.; book
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Provides an overview of employee benefits in the U.S. and explains Social Security and Medicare. Retirement information covers defined benefit and defined contribution plans, individual retirement accounts, cash balance plans, automatic enrollment provisions of the Pension Protection Act of 2006 and more. Health benefits covered include drug, dental and vision plans; retiree health benefits; and managing health care costs. Other benefits covered include leave, workers' compensation and domestic partner benefits. Public-sector topics addressed include both health and retirement benefits, regulation of public-sector retirement plans, and benefit cost comparisons between state and local and private-sector employers.
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U.S. Master Employee Benefits Guide.
Kennedy-Luczak, Kathleen; King, Melanie; Panszczyk, Linda; Turan, Tulay; 826 pp 2009; book
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Basic ERISA rules are explained. Specific benefits such as health plans, flexible spending accounts, employee assistance programs and elder care, and their design, administration and compliance are discussed.
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Straight A's for Tuition Benefits.
Robbins, McLean; Employee Benefit News; v22 no14 pp 62-64 Nov 2008; journal article
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The Institute for Corporate Productivity finds over 80 percent of organizations assist employees seeking further education, but only five percent track the return on their investment. Tuition assistance can give an employer a competitive advantage and boost employee loyalty. Employers may not succeed mandating that worker students stay for a set period, but a written policy on paying back costs for early resignation is reasonable. A tuition assistance program should have a well defined purpose, set metrics for success, communicate the benefit, reward scholastic achievement and work with the firm's training and development department.
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Tuition Assistance for a Transitory Workforce: How to Avoid Getting an "Education" When You Pay Your Employees' Tuition.
Abramson, Gil A.; Hutman, Daniel; Employee Benefit Plan Review; v63 no3 pp 11-13 Sep 2008; journal article
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Providing tuition assistance for an employee's further education promotes the work relationship, retention and organizational goals while benefiting the individual. But employers should establish conditions to discourage the employee from taking new skills elsewhere, such as making repayment obligatory. Employers should require the employee to acknowledge the obligation in a contract. If forced to collect, the employer can consider setting off funds from a final paycheck, subject to amount available and state law. The cost of legal action may not be worth the return. Casting the tuition assistance as a loan with a promissory note to be repaid in case of early departure may be the best option.
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Golden Opportunities.
B.G. Yovovich; Human Resource Executive; v22 no8 pp 30, 32-34 Jun 2, 2008; journal article
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Of employers sponsoring educational assistance plans, only six percent insist employee educational activities support strategic goals, the Corporate University Xchange reports. Many employers fail to nurture workers' educational achievement and how they can benefit the organization. At Verizon Wireless, 18 percent of employees are enrolled in degree programs where programs are offered onsite. Caterpillar Corp. offers Caterpillar University to promote internal leadership development and strongly supports its degree candidate employees. Employers tend to see tuition assistance as an expense but should view it as a strategic investment. LearningLINK finds continuing education promotes employee retention and promotion within a company.
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Smart Accounts.
Starner, Tom; Human Resource Executive; v22 no8 pp 20, 22, 24-26 Jun 2, 2008; journal article
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Lifelong learning accounts (LiLAs), borrowing the contribution concept of 401(k) plans, are drawing interest from employers. IBM, BJC HealthCare and CVS Caremark have implemented LiLAs to promote career skill development, benefiting the employee, the company and community. The Council for Adult and Experiential Learning (CAEL) is promoting the concept and adoption by employers. A LiLA involves employee contributions with an employee match in a portable account to support education and training. The CAEL reports 98 percent of employees with a LiLA use the credit to improve their career. Loyalty to a supporting employee discourages taking newfound skills to work a for competitor.
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Tuition Reimbursement Can Put Employees at the Top.
Harder, Danielle; Canadian HR Reporter; v21 no6 pp 17, 21 Mar 24, 2008; journal article
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Organizations like the Vancouver Fraser Port Authority and Christie Digital recognize the value of helping their employees advance their education. Providing education benefits can significantly decrease turnover rates, as long as the employer demonstrates that he or she values and supports the worker's development. An employee who does not win a promotion is more likely to resign. The learning benefits not only the employee but also the organization through increased flexibility and future potential.
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2008 Survey of Employee Benefits.
38 pp 2008; book
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More than 3,400 companies were surveyed in 2007 about health care benefits, flexible benefits, paid time-off, holidays, vacation, child/parent/spouse care, tuition assistance, credit unions and mileage allowances. The survey covers exempt, nonexempt office and nonexempt plant employees and results are presented by type of industry, size of employer, and geographic region. The average health care cost per employee was $7,490 in 2007 and health care spending increased 5 percent.
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Handbook of Employee Benefits and Administration.
Reddick, Christopher G., ed.; Coggburn, Jerrell D., ed.; 426 pp 2008; book
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Explains the administration of employee benefits in public sector organizations. Both the social aspects of employee benefits and the financial elements are covered. Includes a comparison of public to private sector benefits, an examination of generational issues, changes occurring in state and local government plans and retirement planning in the United Kingdom.
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U.S. Master Employee Benefits Guide.
Kennedy-Luczak, Kathleen; King, Melanie; Panszczyk, Linda; Turan, Tulay; 820 pp 2008; book
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Laws on health care portability, health savings accounts, medical savings accounts, long term care and educational assistance, adoption expenses, COBRA, and the deduction for the self-employed changed the scene for employee benefits professionals. Changes in the laws are analyzed in detail and a general overview of all nonpension benefits is provided. Basic ERISA rules are explained. Specific benefits such as health plans, flexible spending accounts, employee assistance programs and elder care, and their design, administration and compliance are discussed.
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New Learning Accounts Meant to Complement Tuition Reimbursement.
Silva, Chris; Employee Benefit News; v21 no13 pp 58, 60 Oct 2007; journal article
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Lifelong Learning Accounts are being used to complement traditional tuition reimbursement programs in many workplaces. The accounts, which were pioneered in 2001 by the Council for Adult and Experiential Learning, are more flexible than tuition reimbursement and can be used for other expenses such as books and supplies. They can be used for any kind of education and training programs that develop skills needed to remain productive. Both employers and employees can contribute on a voluntary basis.
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