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The Bureau of Labor Statistics, [3] like the International Accounting Standards Board, [4] defines employee benefits as forms of indirect expenses. Managers tend to view compensation and benefits in terms of their ability to attract and retain employees, as well as in terms of their ability to motivate them.
Severance pay is not mandatory; however, employers usually offer severance package as a gesture of goodwill and competitive advantage. Severance pay is paid, if any, based on employee’s years of service and contribution to the company. It may also include continuation of benefits and other perks (health insurance, outplacement assistant, etc.).
ERISA also regulates the manner in which a pension plan may pay benefits. For example, a defined benefit plan must pay a married participant's pension as a "joint-and-survivor annuity" that provides continuing benefits to the surviving spouse unless both the participant and the spouse waive the survivor coverage.
Generally, any tax required to be withheld from an employee's paycheck (or required to be matched by the employer and additionally paid) for which the employee is liable for (or employer, for matching contributions), such as the employee (and employer) portion of the United States Social Security and Medicare taxes, and any tax a merchant is ...
Pennsylvania (/ ˌ p ɛ n s ɪ l ˈ v eɪ n i ə / ⓘ PEN-sil-VAY-nee-ə, lit. ' Penn's forest country '), officially the Commonwealth of Pennsylvania [b] (Pennsylvania Dutch: Pennsylvanie), [7] is a state spanning the Mid-Atlantic, Northeastern, Appalachian, and Great Lakes regions of the United States.
Many union members pay union dues out of their wages, although some unions collect dues separately from the paycheck. Union dues may be used to support a wide variety of programs or activities, including negotiating contracts; paying the salaries and benefits of union leaders and staff; union governance; legal representation; legislative lobbying (Members Dues money paid are never used for ...
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