Employees look to their employer for more than just a pay check. In addition to some form of qualified retirement plan (please see the description of our services relating to Qualified Pension Plans), employees also seek non-taxable fringe benefits from their employer.
In some cases, such plans can be at no-cost to the employer, some require only a set-up cost with no on-going administrative expense, others have both a set-up cost and on-going administrative costs, and still others require on-going contributions by the employer.
The list of possible employee fringe benefits is rather long, and each employer’s offerings can be selected from among the following:
Accident and health insurance
Adoption assistance *
Cafeteria plans *
Deferred compensation
Dependent care assistance *
De minimus fringes
Educational assistance
Employee achievement awards
Employer-provided vehicle
Group term life insurance *
Job Placement Assistance
Meals and lodging
No-additional cost service *
On-premises athletic facilities
Qualified employee discounts *
Qualified moving expense reimbursement
Qualified retirement plans *
Qualified transportation fringes
Retirement planning services *
Self-insured medical reimbursement plans *
Working condition fringes
* - If this employee benefit plan discriminates in favor of highly compensated or key employees, the benefits are taxable to the highly compensated or key employee.
We understand the complex eligibility requirements of these plans, and keep updated on changes to the rules of maintaining them to protect their qualified status.
We are experienced at assisting clients to determine the proper benefit plan for them to offer their employees in order to motivate them and retain them a key contributor to the business.
