something that improves the profitability or efficiency of an organization or reduces its risk, or any nonmonetary reward given to employees, for example, paid vacations or employer contributions to pensions
Wiktionary Definition for: Benefit
An advantage, help or aid.
A payment made in accordance with an insurance policy or a public assistance scheme.
A performance, etc, given to raise funds for some cause.
This paper uses economic principles to analyze alternative definitions for end-of-period liabilities under post-employment benefit plans; the candidates, using U.S. nomenclature, are the vested benefit obligation VBO, the accumulated benefit obligation ABO and the projected benefit obligation PBO. In competitive employment markets with rational contracting it is not possible to...
When communicating with employees, HR professionals compete against a multitude of messages from both the organization and the outside world. How to reach employees when they are bombarded daily with newsletters, magazines, e-mails, pop-up Intranet ads, and other types of communications? How to get important benefit and compensation messages to...
This paper briefly proposes a different standard for the design of a Medicare benefit: the medical and therapeutic value of the medications covered. Designing a benefit that relates the coverage of prescription drugs to their therapeutic value also has advantages over a benefit targeted only to lower-income. This paper highlights...
Defined benefit pension plan is the employee compensation scheme that guarantees a specific benefit level at the retirement of the employee. The same entails costs to the organization. Length of service and amount of salary are important considerations towards determining an employee’s pension benefits. The paper examines the dynamics and...
Employer-sponsored defined benefit pension plans face unprecedented challenges in the midst of significant changes in the nation's retirement landscape. Many defined benefit plans and the federal agency that insures them, the Pension Benefit Guaranty Corporation PBGC, have accumulated large and growing deficits that threaten their survival. Meanwhile, the percentage of...
Under the traditional approach to defined benefit plans, well-intended disciplinary and regulatory regimes have sought to restrict discretion, reduce uncertainty and risk, and protect workers and employers. Nevertheless the discouraging state of US defined benefit plans indicates that past efforts have gone awry. This paper suggests that a new approach...
A death benefit is the payment you receive as a beneficiary of a life insurance policy. The death benefit may be paid as a lump sum or annuity. A death-benefit annuity may include a cost-of-living adjustment COLA to protect against inflation. In most cases, a death benefit is paid monthly....
Employers are more challenged than ever to get results from both retirement and health care benefit plans. How can organizations get the most out of benefit investments? How can companies help employees make better decisions about their benefits? How can organizations stay on track to meet the challenges of managing...
Ten to fifteen years ago, the idea of e-commerce - the buying of goods and services on the Internet was completely unknown to the average American. Employee benefits were sponsored by employers and delivered in a traditional paper or voice response election process; voluntary group benefit programs were mainly the...
From the point of view of private-sector employers, it's been a disastrous year for benefit costs. For the year ended March 2003, benefit expenses leaped 6.1 percent, greater than the 4.8 percent jump for the year ending March 2002, according to figures just released by the U.S. Bureau of Labor...
According to the Pension Benefit Guaranty Corporation, there are about 38,000 insured defined benefit plans today compared to a high of about 114,000 in 1985. They go on to state that this decline was due primarily to plans with 100 or fewer participants. One possible reason for this...
From the executive summary: ‘When estimating the economic returns of a Reduction In Force RIF a company should consider the long-term costs and administration requirements associated with the terminated employees benefit plans. A company's benefits manager and benefits counsel should review all benefit plans that could insure affected employees, including...
This paper describes that more than 85 percent of benefit managers rank the control of health benefit costs as their top priority, making 2004 the fifth consecutive year the issue has ranked number one in surveys by the International Society of Certified Employee Benefit Specialists and the human capital practice...
This paper discusses the FASB Statement No. 132 (Revised 2003) Employers' Disclosures about Pensions and Other Postretirement Benefit, which requires additional disclosures about plan investments, investment strategies, investment assumptions, benefit obligations, and future cash flow (i.e., expected employer contributions and benefit payments). For publicly traded entities with domestic pension and...
From the executive summary: ‘Recent tax law changes and new one-stop shopping programs offered by financial services companies have made defined benefit plans more attractive and easier to implement and maintain for small businesses. High-income business owners employing only themselves may benefit the most from the plans. That is because...
While 401k s gets most of the press, traditional defined benefit plans still are the ones most commonly used. For employers, retirement benefits packages are of the utmost importance, but the advent of 401k s and other new options competing against traditional defined benefit plans has left some employers with...
There are few development organizations that have integrated usability activities as an integral part of their product development projects. One reason for this is that the benefits of better usability are not visible for the management. In this paper the author analyses the characteristics of some published usability cost-benefit models....
"If you are a retired member or survivor in Plan A, B, C, or D, you will receive a cost-of-living increase in your April 30 check. (Some Plan E retirees will also receive a cost-of-living benefit for the first time. See the article below, “Plan E COLA Benefits Explained” for...
This article is about one of the benefit that is provided to employee is Fringe benefits, it cover the detail information concluding what is fringe benefits and how these are taken for taxation. The value of fringe benefits provided to the employees must be included as compensation on...
