Intro
Employee Benefits: Raiders of the Executive Washroom
At financialfootprint, we know firsthand about employee benefits. You know, those special little perks of a job that make you feel all tingly for working there. For example, let’s listen to our current employees rave about the benefits they receive:
Kate: “We get food every week!”
Jim: “I get free air!”
Pat: “On Fridays I DON’T receive beatings!”
As you can see, you get ahead when you work at financialfootprint. You know what they say – a living employee is a happy employee!
…OK, we don’t beat our employees THAT much. But employee benefits are important to understand if you are searching for a job or if you already have a job but don’t understand what you are getting.
Employee benefits are programs that are designed to help you if you are a member of the working world. You will have money taken out of your paycheck to pay for them. In return, you get a bunch of help if you encounter a variety of problems.
Employee benefits are either mandatory or voluntary. Employers must give you mandatory benefits which you contribute to through taxes; that means money is automatically taken out of your paycheck to pay for them. For voluntary employee benefits, money is still taken out of your paycheck, but only if you choose to accept the benefit. It’s voluntary.
One benefit you have is your personal finance guide. He or she will help you through the inner workings of employee benefits so that you’ll be a more educated worker.
financial factoid
Medicare is predicted to last until 2029. (Source: nytimes.com)
check out these articles
- Should You Buy Long-Term-Care Insurance? May 14, 2012Mark Meiners says yes, because you need to be prepared, not just hope for the best. No, says Prescott Cole, because the cost is too high. […]
- Are Variable Annuities a Good Investment? May 14, 2012Ellie Lowder says yes, because they offer the assurance of a guaranteed return. No, says Lewis Altfest, because they are too costly for the benefits they provide. […]
- Plan for Your Parents' Financial Future May 13, 2012Getting involved with parents' plans for their golden years can keep young adults from having to shell out big money later on—or at least prepare them for it. […]
- State Governments Eye 'Inactive' Broker Accounts May 13, 2012At risk are accounts that states say may be inactive or abandoned but are simply running on the investing equivalent of auto-pilot—dividend re-investment plans. […]
