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How are expenses of termination of a Defined Benefit Pension Plan shared among the employer and employees?
Wiki User
∙ 14y ago
db plans are pooled asset type plans (both employer and employee $) and expenses are normally deducted/paid from the assets.
Wiki User
∙ 14y ago
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What the difference between expenses and prepaid expenses?
Expenses are those amounts the benefit of which is already taken by business while prepaid expenses are advance payments for those expenses which company will incur in future.
Are accrued expenses assets or liabilities?
Accrued expenses are those expenses the benefit of which has already taken by the business but the payment is not yet cleared that's why it is the liability of business.
Is prepaid expense and debit or credit?
Prepaid expenses are like current assets, as for current assets payment made but benefit use in future same like prepaid expenses are those expenses for which payment is made in advance but benefit not yet taken like prepaid insurance etc.
What is imputed income?
Income that may not be seen as cash, but instead comes in the form of a benefit...sometimes by having another pay an expense...sometimes by having a benefit provided. Examples: The value of a car provided by your employer that you may use for personal use. That value is imputed income. Likewise, the value of having some other benefits - over $50,000 a year of life insurance provided by your employer (the value of the insurance is imputed income). An employer sponsored (even if what it does just work to make the costs lower) of an on site cafeteria - imputed benefit. Having a below market rate loan...that some employers provide certain employees...the lower interest that they forgoe is a benefit to you...and hence imputed income.
Why do you add prepaid expenses in the balance sheet?
Prepaid expenses are those amounts which are paid in advance and no benefit is recieved by the business so until benefit not taken this amount is same as cash that's why shown as current asset in balance sheet.
How much do employers pay for meal expenses for employees?
As much as they wish. It is unregulated. IRS limits the employer's tax deduction, but does not limit the benefit.
Why does the employer benefit in low wage economies?
The employer benefits because they don't have to pay their employees as much. Therefore, the employer can make more money.
What is a health reimbursement agreement HRA plan?
A Health Reimbursement Arrangement, or HRA, is an IRS approved, employer-funded, tax advantaged employer health benefit plan that reimburses employees for out of pocket medical expenses and individual health insurance premiums. A health reimbursement arrangement is not health insurance. A health reimbursement arrangement allows the employer to make contributions to an employee's account and provide reimbursement for eligible expenses. A health reimbursement arrangement is an excellent way to supplement health insurance benefits and allow employees to pay for a wide range of medical expenses not covered by insurance. It is often referred to (incorrectly) as a health reimbursement account.
What is a Health Reimbursement Arrangement?
A Health Reimbursement Arrangement, or HRA, is an IRS approved, employer-funded, tax advantaged employer health benefit plan that reimburses employees for out of pocket medical expenses and individual health insurance premiums. A health reimbursement arrangement is not health insurance. A health reimbursement arrangement allows the employer to make contributions to an employee's account and provide reimbursement for eligible expenses. A health reimbursement arrangement is an excellent way to supplement health insurance benefits and allow employees to pay for a wide range of medical expenses not covered by insurance. It is often referred to (incorrectly) as a health reimbursement account.
If employer closes for snow is it mandatory to pay employees?
No. You are not entitled to be paid for any time you did not work. If your employer chooses to pay you, you are receiving a benefit and not something to which you are entitled.
How does it benefit the employer by providing provident funds for employess?
Employees will have a higher satisfaction level and loyalty towards the company
Is it legal for my employer to make me pay into a health insurance plan even though I don't get health insurance through my employer?
No, it is not legal. Any money that an employer takes from your paycheck for a benefit must be used to purchase the benefit. ERISA, a federal law, prohibits an employer from using employees' money for any other purpose.
Which of these is not a benefit that results from a positive employee-to- employer relationship?
>employers get to do what they like best; constantly keep tabs on their employees.<
What are the advantages of providing small business health insurance to employees?
One will find that the advantages to providing small business health insurance for employees to be quite helpful and useful in the long run. Health insurance helps keeps employees since the benefit is solely helpful to both side. On the employer's side, insurance guarantees that their employees will be in their best condition and that employees don't have to worry about paying for health expenses out of their own pockets if there happen to be any work-related injuries.
Can an employer reduce the benefits of a couple of employees without doing it for all?
Sure. Few benefits are regulated by law, and are gifts from the employer. As long as denying the benefit - say, vacation, to employees X and Y was not based on race, sex, age, or disability, no rule forbids that choice.
Health Savings Accounts (HSA) Employer Benefit?
Health Savings Accounts (HSA) Employer Benefit This calculator helps estimate the value of creating a High Deductible Health Plan (HDHP) with Heath Savings Accounts (HSA) for your employees. Providing such a plan not only gives your employees a valuable benefit, it can be a cost saving measure for your business. Use this calculator to estimate your net cost of setting up your HDHP and HSA plans.
What is Minnesotas law on supervisors and managers sharing the tips of employees.?
From Minn. Stat. s. 177.24: "Any gratuity received by an employee or deposited in or about a place of business for personal services rendered by an employee is the sole property of the employee. No employer may require an employee to contribute or share a gratuity received by the employee with the employer or other employees or to contribute any or all of the gratuity to a fund or pool operated for the benefit of the employer or employees. This section does not prevent an employee from voluntarily and individually sharing gratuities with other employees."
