This website uses cookies to ensure you have the best experience. Learn more

Non Retirement Benefits Essay

867 words - 3 pages

Non-Retirement Benefits Paper PAGE 4
Non-Retirement BenefitsNovelette AnglinUniversity of PhoenixNon-Retirement BenefitsMany companies have done away with "sick leave' and "vacation" as employee benefits replaced them with Paid Time off (PTO). Most work benefits that falls in the Non-Retirement benefit category does not mean that it does not helps throughout the course of our entire work life. All have personal lives and priorities, and in the workforce, benefits are accommodated for all full-time eligible employees. Several types of Non-Retirement benefits flows in a benefit package for the eligible employee in which I will make mention of five in my report here.Paid time Off (PTO) This Non-Retirement benefit provides the full time employee with days away from work. Employees' use this time for vacation and other reasons .PTO time is scheduled in advance most of the time within the company's department and must be approved by the company or department supervisor except if the employee has an emergency. This does not roll over floating holidays or leave of absence. Concurrently PTO can be used with other types of leave. If all PTO hours are not been used then the company will pay for the unused hours up to the maximum accrual.Sick Leave benefit is one Non-Retirement benefit not required by federal law. A Sick Leave compensates employees for a specified number of days absent due to personal illness. The amount of sick leave often based on length of service accumulates over a time. The company allows the employee to save them in case of disability because the company allows him or her to accumulate without any limit.Personal Leave grants the employee paid time off for any reason necessary with the supervisor's approval. This is a few additional days to sick leave.The family and Medical Leave (FMLA) give the employee protection in case of family emergency. FMLA guarantees leave for the employee. An important key element to protect the employee to ensure the security of the position held with the company whether in the same position or otherwise but must be equivalent if position is changed to what the other position was. The company is not required by the FMLA to pay employees while on family leave in which most companies choose not to pay them, but still a good incentive Non-Retirement benefit for the employee having a good peace of mind that his or her job with the company is secure.Military Leave is guided by federal and state laws in which they focus on the employer's obligation to reemploy individuals who were previous with the company once complete military duties. The company chooses to pay the employees who are on military leave or not. If he or she is...

Find Another Essay On Non-Retirement benefits

Privatization of Social Security Essay

1639 words - 7 pages end up in poverty. Social Security was signed in as law on August 14, 1935 by President Franklin D. Roosevelt and was fully operating by 1940 (SSA). Originally a retirement program, but Social Security now includes survivor benefits, disability benefits and Medicare and all together is the largest expenditure of the federal government (SSA). Evidence proves that today Social Security is not sustainable which is the reason that Social Security

Is Social Social Security Fair to all people especially Minority - GSU - Essay

1283 words - 6 pages Social Security Social Security is a benefit that is provided from the government in a certain age of your life which is mostly retirement age to all of its citizens and non-citizens that are living in the country. It covers all the majority and minority of its people. The social security was signed by President Roosevelt into law in order to help people that are retired, unemployed, disabled and many other. It also provides assistance for

U.S. Taxation of Qualified Retirement Plans

1311 words - 6 pages taxation of distribution from qualified retirement plans in a domestic and international context. Specifically the income taxation rules that apply to distributions from tax-qualified plans to U.S. Citizens and Resident Aliens (or “green card” holders), as well as distributions to Non-Resident Aliens. Moreover, the paper discusses the mismatches and complexities of the existing rules and the negative impact these rules pose from a compliance

Privatization of Social Security

1381 words - 6 pages choice on how much, and no one else could ever touch it, until after your death. You would also be given the opportunity to use this money, and try to double the amount by investing in bonds. Privatization has many benefits, and would be a great help for retirement troubles. It would be a great way for people to leave an inheritence for their families (Tanner, "Saving Social Security is Not Enough").A feeling of frustration is often felt when

Music unions yes or no?

639 words - 3 pages bargaining agreements that guarantee minimum (but never maximum) salaries, safe working conditions and health and retirement benefits. When the union is unable to resolve disputes with employers, AFTRA contracts include procedures for binding arbitration. The union pays the cost of these proceedings. In the past year, AFTRA pursued claims, grievances and arbitration that recovered over $10 million for AFTRA members. Second, music unions advocate on

Gay couuple the rught to marry

530 words - 2 pages spouse or for the kids. Also with employee insurance unmarried partners can't always sign up for joint health insurance. In addition, many employers don't cover domestic partners or their biological or non-biological children in their health insurance plans. Pensions are another benefit of being married; if gay couples are denied the right to marry it will exclude them from these benefits. Marriage also enables couples the right to their government

Business Fundamental Week 9 Discussion - SNHU/ Business Fundamentals - Discussion Post

598 words - 3 pages Katerin Romero Business Fundamentals Week 9 Discussion Board October 6, 2016 Amongst many of the benefits the company offers such as retirement pension benefits, post-retirement health and welfare benefits that helps the employee be setup for success once they are no longer working, one that I wanted to highlight was stock. Under the long-term debt section of the annual report, I wanted to discuss JC Penney’s stock awards to employees. Not many

Learning About Human Resources

1092 words - 4 pages (DOL) oversees and provides workers, employers, job seekers, and retirees with federal employment laws to protect their wages, health benefits, retirement security, employment rights, safety, and health of America’s workforce (United States Department of Labor, 2012b). There are many legal and regulatory laws that impact the way different roles of the human resources function; such as Family and Medical Leave Act (FMLA), American Disability Act

Recognition and measurement of IAS 19 – employee benefits

2141 words - 9 pages -employment benefits and the termination benefits. For the short-term employee benefits, they usually cover items such as wages, salaries, short-term holiday pay, bonuses and medical care which all should fall due wholly within twelve months; for the post-employment benefits, they consist mainly of retirement benefits such as pensions, and it is important to distinguish between the two types of pension schemes which are defined contribution plans and

Discussion of the effects of employee benefits on cost and workforce quality

2889 words - 12 pages I. IntroductionMost benefits are a form of non-taxable income to employees, providing them with such advantages as retirement provisions, paid personal time, insurance and health protection and various other employee services. Benefits are to increase an employee's feeling of security, happiness and wellbeing. The aim of benefits is to attract better, more skilled employees and be competitive in local market for most positions.The benefits

Sociology of Disability

1987 words - 8 pages involuntary are affect by the negative push of health and influence their decision to retire. On the other hand, for the people who retire voluntary are affect by the pull positive factors have the desire to do things, this affects the labour marker because there is no attention on the economic consequence of retiring due to poor health and access to disability benefits can bridge income into retirement. The theme of Vick (2013) and Denton et

Similar Essays

Are Americans Ready To Retire? No!

2378 words - 10 pages are several reasons why workers are worried about whether they will have enough for their medical and long-term needs during retirement. These reasons include: • Decreased amounts in 401(k)s/403(b)s and employer-sponsored plans • Lack of confidence in Social Security benefits • Unemployment and underemployment • High Medical care costs during retirement • High amount of foreclosures • College graduates returning home • Divorce

The Benefits Of Retirement For Those Who Plan

3109 words - 13 pages . Using those numbers, today's elderly make up about 13 percent of the population, up from only 7 percent in 1940. The average life expectancy for a male is 74 while females can expect to live to age 80. This means that a person can expect to live 10 to 15 years while in retirement. Future retirees themselves are worried about their retirement-planning insight. Rightfully so seeing as though Social Security retirement benefits probably will be reduced

Title: Planning For Your Retirement: What Most Investment Advisers Do Not Tell You

989 words - 4 pages Almost all retirees desire to have a dependable source of income during their retirement, and I assume that you too, whether you are already retired or planning to retire, have this same goal. With this in mind, let me ask you a very important question. Would you be unhappy if your investment adviser recommends that you allot a tiny portion of your portfolio in a derivative that offers these six amazing benefits: • Flexibility in income start

Privatization Of Social Security Essay

1601 words - 6 pages end up in poverty. Social Security was signed in as law on August 14, 1935 by President Franklin D. Roosevelt and was fully operating by 1940. Originally a retirement program, but Social Security now includes survivor benefits, disability benefits and Medicare and all together is the largest expenditure of the federal government. Evidence proves that today Social Security is not sustainable which is the reason that Social Security should be