Legal Requirements for Employee Benefits Essay Example for Free

Legal Requirements for Employee Benefits Essay As we discussed earlier in this chapter, some benefits are required by law. This requirement adds to the cost of compensating employees. Organizations looking for ways to control staffing costs may look for ways to structure the workforce so as to minimize the expense of benefits. They may require overtime rather than adding new employee, hire part-time rather than full-time workers(because part-time employees generally receive much smaller benefits packages),and use independent contractors rather than hire employees. Some of these choices are limited by legal equirements, however. For example ,the Fair Labor Standards Act requires overtime pay for nonexempt workers, as discussed in chapter 11. Also,the Internal Revenue Service strictly limits the definition of independent contractors,â€Å" so that employees cannot avoid legal obligations by classifying workers as self-employed when the organization receives the benefits of a permanent employee . Other legal requirements involve tax treatment of benefits ,antidiscrimination laws, and accounting for benefits. Tax treatment of benefits A modern, flexible benefit plan provides a number of potential tax advantages to employees and employers. Employees A flexible benefit plan allows employees to choose to swap some of their existing benefits or purchase benefits from a menu of options. Payments in excess of the employees spending allowance are normally collected via a gross salary adjustment. If employees exchange salary for tax exempt benefits (pensions, life cover, childcare vouchers, mobile phones, etc. ), they do not pay tax or National Insurance on the amount exchanged. This gives a basic rate tax payer earning less than the National Insurance (NI) Upper Earnings Limit (UEL) a saving of 33% compared to receiving the money as salary. For example, an employee that exchanges ? 200 per month of their salary for childcare vouchers and additional pension payments will save ? 792 in tax and NI compared to taking the money as salary. Even if the benefits are not tax exempt, employees can still exchange salary for employer provided benefits and, whilst they will be charged income tax, they save NI as their salaries have been reduced by the value of the benefit. This gives employees earning under the UEL an 11% saving. Employers Employers participating in a flexible benefit plan do not pay employers NI on payments on payments to exempt benefits. If these payments have been exchanged from salary by employees then the employer will save 12. 8% employers NI on the amounts. For example, an employee that exchanges ? 200 per month of their salary for childcare vouchers and additional pension payments will deliver an annual NI saving to the employer of ? 307. Antidiscrimination Laws  Legal treatment of men and woman includes equal access to benefits, so the organization may not use the employee’s gender as the basic for providing more limited benefits. That is the rationale for the Pregnancy Discrimination Act, which requires that employers treat pregnancy or childbirth, the employee needs time off for conditions related to pregnancy or childbirth, the employee would receive whatever disability benefits the organization offers to employees who take disability leave for other reasons. Another area of concern in the treatment of male and female employees is pension benefits. On average, woman live longer than men, so on average, pension benefits for female employees are more expensive (because the organization pays the pension longer), other things being equal. Some organizations have used this difference as a basis for requiring that female employees contribute more than male employees as a basis for requiring that female employees contribute more than male employees to defined benefit plans. The Supreme Court in 1978 determined that such a requirement is illegal. According to the Supreme Court, the law is intended to protect individuals, and when women are considered on an individual basis ( not as averages ), not every woman outlives every man. Age discrimination is also relevant to benefits policies. Two major issues have received attention under the Age Discrimination in Employment Act (ADEA) and amendments. First, employers must take care not to discriminate against workers over age 40 in providing pay or benefits. For example, employers may not set an age at which retirement benefits stop growing as a way to pressure older workers to retire. Also, early retirement incentive programs need to meet certain standards. The programs may not coerce employees to retire, they must provide accurate information about the options available, and they must give employees enough time to make a decision. In effect, employees must really have a choice about whether they retire. When employers offer early retirement, they often ask employees to sign waivers saying they will not pursue claims under the ADEA. The Older Workers Benefit Protection Act of 1990 set guidelines for using these waivers. The waivers must be voluntary and understandable to the employee and employer , and they must spell out the employees rights under the ADEA. Also , in exchange for signing the waiver, the employee must receive â€Å"compensation† that is , greater benefits than he or she would otherwise receive upon retirement. The employer inform employee that they may consult a lawyer before signing, and employee must have time to make a decision about signing-21 days before signing plus 7 days afterward in which they can revoke the agreement. The Americans with Disabilities Act imposes requirements related to health insurance. Under the ADA, employees with disabilities must have equal access to whatever health insurance coverage the employer provides other employees. Even so, the terms and conditions of health insurance may be based on risk factors -as long as the employer does not use this basis as a way to escape offering health insurance to someone with a disability. From the standpoint of avoiding legal challenges, an employer who has risk-based insurance and then hires an employee with a disability is in a stronger position than an employer who switches to a risk-based policy after hiring a disabled employee. Accounting Requirements Companies financial statement must meet the many requirements of the Financial Accounting standards Board ( FASB) . These accounting requirements are intended to ensure that financial statements are a true picture of the companys financial status and that outsiders, including potential lenders and investors , can understand and compare financial statements . Under FASB standards, employers must set aside the funds they expect to need for benefits to be paid after retirement, rather than funding those benefits on a pay-as-you-go basis. On financial statement, those funds must appear as future cost obligations. For companies with substantial retirement benefits, reporting those benefits as future cost obligations greatly lowers income each year. Along with rising benefits costs. This reporting requirement has encouraged many companies to scale benefits to retirees. Summarize the regulation affecting how employers design and administer benefits program. Employers must provide the benefits that are required by law, and they may not improperly classify employees as independent contractors to avoid paying benefits. Tax treatment of qualified plans is favorable, so organizations need to learn the requirements for setting up benefits as qualified plans-for example, ensuring that pension plans do not discriminate in favor of the organizations highly compensated employees. Employers may not use employees gender as the basis for discriminating against anyone, as in pension benefits on the basis that women as a group may live longer. Nor may employers discriminate against workers over age 40 in providing pay or benefits, such as pressuring older workers to retire by limiting retirement benefits When employers offer early retirement, they must meet the requirements of the Older Workers Benefit Protection Act of 1990. Under the Americans with Disabilities Act, employers must give disabled employees equal access to health insurance. To meet the requirements of the Financial Accounting Standards Board, employers must set aside the funds they expect to need for retirement benefits ahead of time, rather than funding the benefits on a pay-as-you-go basis

The Declaration of Independence :: essays research papers

The Declaration Of Independence   Ã‚  Ã‚  Ã‚  Ã‚  The Declaration of Independence includes four parts. The first part is the Preamble, which explains why the Continental Congress drew up the Declaration. They felt their reason should be explained to England. The Purpose of Government is to Protect Basic Rights   Ã‚  Ã‚  Ã‚  Ã‚  This section is about the basic unalienable rights that every human should have life, liberty, and the pursuit of happiness are some of the rights that are talked about in this section. It also talks about how some people have the right to overthrow an unjust government. It states that government should not be changed for light or unimportant reasons. An example of just reason would be if a government was destructive in any way. Another reason would be if a government took away our basic rights of life, liberty, and the pursuit of happiness. Wrongs Done By The King   Ã‚  Ã‚  Ã‚  Ã‚  In the third section of the Declaration Of Independence states all the wrongs the people thought the king of England did to them. The colonists thought the king was treating them unfairly. For example he refused to approve laws that would help the colonists. He also made them pay taxes without their consent along with forbidding trade with other countries. They tried to talk to the king about their complaints but he ignored them. All of this made the colonists very angry. In this section the colonists write that they have had it with Britain’s Tyranny Rule. Declaration Of Independence   Ã‚  Ã‚  Ã‚  Ã‚  In the fourth and last section of the Declaration Of Independence.

Dangers of Childhood Immunizations Essay

Evidence Supporting Thesis â€Å"In order to understand the ‘safety’ of vaccines, you have to know several things, including how a baby’s immune system works from birth onwards, and what vaccines do biochemically in the body. That work has never been done.† Found in the book Just a Little Prick by Hilary Butler No one medical treatment will work the same way on every person it is used on, so why would we expect for generalized vaccines to work the same way in every child? It is merely impossible to know how your child’s immune system will respond to vaccines, but there are consequences set in place for parents like myself who do not believe in giving annual vaccines. For example: if your child’s vaccines are not up to date, then your child is not allowed to go to school, be involved in team sports, and a host of other activities. Main Points Studies have not been done to show how each individual vaccine affects the body in both positive and negative ways. Alternative measures should be available for those parents who are against vaccinating their children. More studies need to be conducted to see what role, if any, vaccinations play in the behavioral aspect of a child’s development. Studies have not been done to show how each individual vaccine affects the body in both positive and negative ways. What are the positive effects that vaccines have on a child’s body? Vaccines can help to prevent some of the serious complications that occur as a result of serious diseases. Vaccines help to ensure that if a child comes in contact with a disease, they will only develop a mild case of the disease versus a child never having the vaccine who develops a natural immunity to the disease which will in turn cause the non-vaccinated child to have very severe complications. Varicella Infection leads to Pneumonia if no vaccine has been given. Polio Infection leads to permanent paralysis if no vaccine has been given. Mumps Infection could lead to deafness and infertility in young boys if no vaccine has been given. Hib infection can lead to permanent brain damage if no vaccine has been given. Vaccinations help to build immunity to diseases that may be foreign strains of normal diseases. * *   What are the negative effects that vaccines have on a child’s body? Because there have not been any studies on the exact biochemical effect that vaccines have on a child’s body, there is not much supporting evidence to why vaccines are negative. However, there are some studies that suggest that vaccines may be closely tied to various behavior problems such as adhd, add, and the ever controversial autism. It has been proven that vaccines cause mild side effects such as swelling, fever, flu-like symptoms, and in more severe cases: seizures. Alternative measures should be available to parents who are opposed to vaccinating their children. The bottom line School age children are required to have up-to-date vaccinations before being allowed to attend school. There aren’t any alternative options for parents who do not believe in vaccinating their children Children are not allowed to attend school. Children are not allowed to participate in group activities such as team sports, and clubs. Are we really harming our children by vaccinating them? Studies have not been done to show how each individual vaccine affects the body in both positive and negative ways. Alternative measures should be available for those parents who are against vaccinating their children. * 3.More studies need to be conducted to see what role, if any, vaccinations play in the behavioral aspect of a child’s development.

Art Institute Of Chicago Art - 993 Words

Art Institute of Chicago Review The Art Institute of Chicago is a great place to see the Asian art. The Art Institute receives a four out of five stars. The positives are that there are a huge variety of visual arts to appreciate. The first negatives of the Art Institute of Chicago is that the Islamic Asian art is under develop. There are two pieces that represents Indian Islamic art. The second is the expense to visit is high. Parking and admission for someone who lives out of state will cost fifty dollars. There are two exhibitions and three collections worth mentioning in this institute. The two exhibits are the Gates of the Lord: The Tradition of Krishna Paintings and Kesa: Japanese Buddhist Monks’ Vestments. The collections that are worth checking out are the Southeastern and Oceania, South Asian, Korean, the Chinese, and Japanese. The first exhibit, Gates of the Lord: The Tradition of Krishna Paintings, is a must see. This exhibit focus on the Hindu culture. The artw ork is focus on Krishna, Hindu deity, and other religious symbols. The exhibit reveals how people worship throughout the year. The music play in the background is traditional Indian music. The walls are specifically painted to enhance the art work. The artwork contains large amount of gold color in them. The art work has Krishna wear gold jewelry and fancy apparel. The skin of Krishna has a very pretty dark blue. The face is intense as well. The rugs are impressive as well. The rugs has cows andShow MoreRelatedThe Art Institute of Chicago Essay664 Words   |  3 PagesThe building at 111 South Michigan Avenue, home of the Art Institute of Chicago, was opened in 1893 as the World’s Congress Auxiliary Building for the World’s Columbian Exposition. The building was passed on to the Art Institute after the end of the exposition. Designed in the Beax-Arts style by Boston firm Shepley, Rutan, and Coolidge, building has become an icon for chicagoans an tourists alike. 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