| The BenefitsLink Newsletter - Welfare Plans Edition |  |
May 18, 2001
Today's sponsor: Employee Benefits Webcast (click)
Webcast coming up May 30! FMLA: The Family and Medical Leave Act -- "It's Not Getting Any Easier." Instructor: Christine E. Howard, Esq. and Jennifer B. Sandberg, Esq., Fisher & Phillips LLP. Presented by Human Resource Consultants. Click to register and purchase this webcast through BenefitsLink!
Study: Employee Benefits Add More Than a Third to Payroll Costs
Excerpt: "Employee benefits cost employers an additional 36.8 percent over wages in 1999, or an average of $14,060 per employee, according to the Chamber's Employee Benefits Study. Medical insurance premiums were the highest-cost single benefit, about one-fifth of total benefits (an average of $2,777 per employee) ..." (United States Chamber of Commerce)
Another Question is Answered in the Cafeteria Plans Q&A Column
One of our employees uses pre-tax salary reduction through our cafeteria plan to pay premiums for covering his children under our medical plan. Just this month, the children qualified to participate in a subsidized state health insurance program for children. He wants to switch coverage and stop salary reducing for the children's premiums. Can we allow him to change his election mid-year on account of this development? (BenefitsLink.com)
Companies Offer Programs to Combat Stress
Excerpt: "The 'S'' and 'B'' words - stress and burnout - are coming to the fore again as employees of downsizing companies and other firms fighting for a competitive edge are assuming additional tasks while trying to balance work and family obligations." (Boston Globe)
Including Family Builds Loyalty to Job
Excerpt: "It's still unusual, during initial job interviews, for potential employers to bring up the subject of work/life balance and what the company is willing to offer. But DataCo., which has sales of $3 million annually and 22 employees, clearly is ahead of the curve in allowing spouses or significant others to be involved." (Chicago Tribune)
Tax Cut Survives Senate Test
Excerpt: "A final Senate vote on the bipartisan package was set for late Monday, but no votes on amendments were planned Friday.... The measure would also gradually repeal the estate tax and raise exemption amounts to $4 million; double the $500 child tax credit by 2010 and allow more low-income people to claim part of it; allow a tax deduction for college tuition; and permit larger contributions to IRAs and 401(k)-type plans." (Associated Press, via Excite News)
IRS Releases the 2001 Priority Guidance Plan
Excerpt: "... in response to requests that it alleviate the deluge of guidance that is produced near the end of each calendar year, the plan year has been changed from a calendar year to a year ending on June 30 (with the current plan year ending on 6/30/02)." (Practitioners Publishing Company)
Newly Posted or Renewed Job Openings (Post Yours!)
| 401(k) Administrator | for Louis Kravitz & Associates, Inc. in CA |
| Account Manager | for Benefit Plan Services, Inc. in GA |
| Senior Marketing Coordinator - Pension Direct | for Invesmart in OH |
| Pension Administrator | for Means & Associates, LLC in CA |
| Implementation Project Manager - Retirement Services | for Transamerica in CA |
| Retirement Plan Administration Manager | for Trustar Reirement Services, a subsidiary of the Principal Financial Group in CA |
| Employee Benefits Administrator | for Kidder Benefits Consultants, Inc. in IA |
| Senior Compliance Analyst | for Union Labor Life Insurance Company in DC |
| Benefits Administrator | for Universal Orlando Resort in FL |
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