Benefit: Definition and additional resources from BNET
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BNET Business Dictionary

Business Definition for: Benefit

  • 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.
  • transitive To be a benefit (to someone).
  • intransitive To be a benefit.

Additional Resources

Post-Employment Benefits, Economics and Accounting: Moral Hazard and Frail Benefit Designs
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...
Tags: Benefits, payroll solutions, University of Pennsylvania, benefit plan, benefit, accounting
White papers 2004-11-19
A Targeted Approach to Benefit Communications
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...
Tags: Benefits, Aon Consulting, compensation, benefit, Intranet, newsletter, advertisement, e-mail
White papers 2002-06-14
Paying for Medical Value: A Better Outpatient Prescription Drug Benefit for Medicare
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...
Tags: HEALTHCARE, Benefits, Medicare, benefit
White papers 2002-07-15
Defined Benefit Pension Plan
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 employees pension benefits. The paper examines the dynamics and...
Tags: payroll solutions, defined benefit pension plan, benefit
Presentations 2003-01-01
Highlights of a GAO Forum: The Future of the Defined Benefit System and the Pension Benefit Guaranty Corporation
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...
Tags: payroll solutions, Benefits, Government Accountability Office, benefit plan, defined contribution plan, defined benefit pension plan, 401(k) plan, benefit, agency, security
White papers 2005-06-01
Resurrecting the Defined Benefit Pension Plan: A New Perspective
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...
Tags: Benefits, payroll solutions, University of Pennsylvania, benefit plan, defined benefit pension plan, benefit, worker, security
White papers 2005-08-28
Life Insurance: Death Benefits
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....
Tags: Insurance, Financial Planning, Investment, Operational accounting, life insurance, annuity, income, Social Security, adjustment, inflation, payment, benefit
White papers 2003-09-08
Helping Employers Take Control of Total Benefits
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...
Tags: Benefits, Hewitt Associates LLC, benefit, benefit plan, health care
White papers
Using E-Commerce to Broaden Benefit Offerings
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...
Tags: Benefits, Web technology, Aon Consulting, e-business, benefit, employee benefit, Internet
White papers 2003-06-13
Cost Benefit Cash Flow
This is a template for cost benefit analysis along with cost benefit summary and performance analysis.
Tags: Benefits, benefit, performance
Tools & templates 2008-01-18
A Bad Year for Benefit Costs a Bad Year for Benefit Costs
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...
Tags: Benefits, CFO Publishing Corp., salary, benefit
White papers 2003-05-06
Defined Benefit Plan
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...
Tags: Benefits, payroll solutions, Internal Revenue Service, benefit plan, benefit
White papers
Factor In Employee Benefit Plans During A Reduction In Force
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...
Tags: payroll solutions, Benefits, Investment, employee benefit plan, employee benefit, defined benefit pension plan, benefit plan, stock option, benefit, tax, stock
White papers 2003-01-01
How to Control Health Care Costs
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...
Tags: Benefits, Vertical industries, HEALTHCARE, health benefit, human capital, health care, survey, benefit
White papers 2004-06-08
New Benefit Disclosure Rules Start With 2003 Financials
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...
Tags: Benefits, Financial accounting, payroll solutions, Aon Consulting, benefit plan, investment strategy, benefit, financial statement, financial
White papers 2003-12-30
Dusting Off Defined Benefit Plans
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...
Tags: Benefits, Financial Planning, Charter Financial Publishing Network Inc., benefit plan, financial service, benefit, small business, tax, financial
White papers 2003-01-01
Retirement Plan Trends
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...
Tags: 401(k), Retirement plans, Investment, Benefits, payroll solutions, Crain Communications Inc., 401(k) plan, benefit plan, defined benefit pension plan, benefit, financial
White papers 2000-11-01
Usability Cost-Benefit Models
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....
Tags: Usability, Author, Analysis, Product Development, Benefits, Research & Development, Business Operations, Human Resources
White papers 2004-10-06
Retiree cost - of - living benefit
"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 Explainedfor...
Tags: Benefits, benefit
White papers 2003-04-01
Fringe Benefits Excluded from Income - 2003
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...
Tags: Benefits, compensation, income, benefit, commission, tax
White papers 2003-01-01
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