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Employee Benefits

Employee Benefits. History. Used to circumvent wage controls during WWII. A perk A right Back to individual responsibility. Pay for Time Not Worked. Unemployment Vacations and Holidays Sick Leave Parental & Family Medical Leave Unpaid May require use of sick leave

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Employee Benefits

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  1. Employee Benefits

  2. History • Used to circumvent wage controls during WWII. • A perk • A right • Back to individual responsibility

  3. Pay for Time Not Worked • Unemployment • Vacations and Holidays • Sick Leave • Parental & Family Medical Leave • Unpaid • May require use of sick leave • Medical coverage continues • Severance Pay • Supplemental Unemployment Benefits • Auto Workers

  4. Insurance • Worker’s Compensation • Monetary or Medical • Hospitalization, Health and Disability Insurance • Rx, Life Insurance, Dental • Cost reduction • Employee Partial Pay (premium and medical bill) • Outsourcing (administration and even treatment) • Mental Illness • 34 Million people in USA suffer • 24% of disabilities • Part-time and Contingent Workers

  5. Retirement • Social Security • Widow and Orphans Act • Premium would never be increased (FDR) • Pensions • Defined Benefits • Defined Contributions • 401K • Deduct before taxes • ERISA (Employee Retirement Income Security Act) • Vesting • Age • Funding • Benefit • Early Retirement

  6. Personal Services • Employee Assistance Program • Child Care • Domestic Partners • Flexible Work Arrangements • Job Sharing • Telecommuting • Compressed work weeks

  7. Cost out of Control • 35 – 47 percent

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