Commuter benefits are fringe benefits that allow employees to set aside pretax money to pay for work-related transportation costs. Generally, for employees to use the benefit, their employer must set up a commuter, or transportation, benefits plan that meets the requirements of Section 132(f) of the Internal Revenue Code.
Should I Offer Commuter Benefits?
Smart companies are always taking a fresh look at the employee benefits they’re offering. Here is what employee perks are trending – and what you might want to consider adding to your company’s benefits package. Employee benefit: Student loan assistance According to the Federal Reserve, Americans currently owe $1.5 trillion in student loans — the […]
In 2018, the Department of Labor issued an opinion letter in response to a query regarding whether certain lump-sum payments are considered earnings under Title III of the Consumer Credit Protection Act, which limits the amount an employer can deduct from an employee’s wages for child and alimony support plus other wage garnishments. The CCPA […]
An employee’s personnel file contains important work-related information specific to him or her. This may include: Job description. Job application. Resume. Employment offer. W-4 form. Employee benefits forms. Emergency contacts. Employment contract. Performance reviews. Complaints from clients or co-workers. Attendance records. Disciplinary actions. Termination records. Employees may request to see this information for various reasons, […]
Employee turnover rate is the percentage or number of employees who leave a company and are subsequently replaced. Industry experts put the cost of replacing an employee at somewhere between 50 percent and 60 percent of the departing employee’s salary. This can take a toll on your profit margin, which is why calculating and controlling […]