Summary |
Employee benefits are an increasingly important element of employee compensation packages. The term employee benefits refers to compensation other than hourly wage, salary, or incentive payments. Examples of just a few specific employee benefits include paid vacation, medical insurance coverage, retirement plans, and tuition reimbursement. The federal and state governments mandate specific benefits based on a variety of laws (e.g., the federal Social Security Act of 1935 and subsequent amendments) and specify minimum standards to qualify for favorable tax treatment (thanks to the Employee Retirement Income Security Act of 1974). Government-mandated benefits usually focus on protection against loss of income for a variety of reasons (e.g., disability benefits for workers and family members).
The fourth edition of this book-Employee Benefits: A Primer for Human Resource Professionals-was written to promote an understanding of employee benefits programs among current human resource practitioners, employees who simply wish to gain a fuller understanding of employee benefits practices, and among students enrolled in college-level compensation and benefits courses. For practitioners, this book will serve as an introductory reference guide. It will help practitioners put benefits practices into the appropriate context and to orient them toward asking the right questions of experts related to employee benefits (company accountants, attornerys, managers of benefits, the federal government, etc.).
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