RMI 3501 Lecture Notes - Lecture 1: Term Life Insurance, Unemployment Benefits, Pension
19 Oct 2017
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Post- retirement health benefit (prhb) medigap policy . Workers compensation disability benefit (managed by risk manager) Total compensation = current cash salary + value of ee benefit. Any type of compensation paid to ee, other that direct current wage. 2, payment for private insurance + retirement plans. Eg: free lunch, free coffee, free bottle water. An ee benefit is any plan: sponsored or initiated. Unilateral or jointly by er and/ or ee. Providing benefit that stem from an employment relationship. Benefits are not underwritten or paid by any government. Ee benefit (healthcare+ welfare benefit eg: health, life, disability) (retirement benefit) Factors in the growth of ee benefit over time. Irs: no taxes on er- provided health insurance. Gave unions the right to bargain over: wage + other conditions of employment . Definition of wage under the wagner act include benefit. Set forth requirement for taft-hartley plans [jointly administrated fund] Benefit are not taxable as part of compensation to ee.
