Cafeteria plans: new options for insurance agencies

Article Abstract:

Cafeteria benefits plans allow insurance agencies to offer new and flexible options for their employees. The Internal Revenue Code's Section 125, Benefits Plans, was amended in 1978 to allow employees to receive additional benefits in lieu of income, and cafeteria benefits plans allow employers to offer employees pay increases without an actual raise in pay. Cafeteria plans are flexible benefit plans that allow employees to pick all or some of their benefits. The two types of cafeteria plans are common core plans, in which a common core of benefits is offered and employees select additional benefits from a menu and request salary reductions for the amount needed to pay for the benefits, and complete options plans, in which the employees select all benefits and the company sets limits on how much it will pay.

Human resource management, Insurance industry, Defined benefit plans

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A guide to employee leasing

Article Abstract:

Employee leasing has become a billion-dollar industry, and much of the growth has been as a result of the Tax Equity and Fiscal Responsibility Act of 1982, which made employee leasing an attractive option due to positive tax and pension advantages. Business owners may find employee leasing viable if benefit and administration costs total more than one-third of base payroll, and personnel administration takes too much time. Business owners considering employee leasing should verify the financial stability and reputation of the leasing organization with which they contract, and should be aware of legal considerations in any arrangement.

Management, Employee recruitment, Professional employer organizations, Employee leasing services

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