About This Chapter
Employer Benefit & Contribution Plans - Chapter Summary
Our instructors have created entertaining lessons you can review any time to improve your comprehension of employer benefit and contribution plans. Gain greater insight into retirement compensation systems, flexible spending accounts, cafeteria plans and more using this chapter. In no time, you will be ready to do the following:
- Describe 401(k) and pension plans
- Define employer contribution as it relates to benefits, payroll and compensation
- Differentiate between qualified and non-qualified deferred compensation plans
- Exhibit knowledge of insurance and flexible benefits for employees
- Explain the eligibility of flexible spending accounts
- Provide an overview of the Affordable Health Care Act
- Discuss the tax implications and regulations associated with cafeteria plans
This chapter enables you to study employer benefit and contribution plans your way. Choose the lessons you want to review, navigate them in any sequence, and visit them as many times as needed. Before, during or after studying the lessons, feel free to test your knowledge of their contents by taking the accompanying mini quizzes. Access these lessons whenever and wherever your schedule allows by enjoying 24/7 accessibility via any computer, smartphone or tablet.
1. Retirement Compensation Systems: 401(k) and Pensions
One of the most valuable benefits an employer may offer to employees are employer-sponsored retirement plans. In this lesson, you'll learn about two common retirement benefits: 401(k) plans and traditional pensions. A short quiz follows.
2. Employer Contribution in Benefits, Payroll & Compensation
In this lesson, learn about the various types of employer contributions towards benefit plans, payroll taxes, and employee compensation while exploring the common types of plans most employers contribute towards. We will also detail different tax relief incentives offered to employers currently participating in such programs.
3. Qualified Deferred Compensation Plans
Many people have heard of 401k plans. But what are they and how are they taxed? In this lesson, we'll examine qualified deferred compensation plans, including what they are and how they are taxed.
4. Nonqualified Deferred Compensation: Definition & Types
Most deferred compensation plans have contribution limits set by the government, but for high-earning employees, nonqualified deferred compensation plans offer a chance to save more. Read this lesson for more on nonqualified deferred compensation.
5. Insurance & Flexible Benefits for Employees
Employee benefits, such as insurance and flexible spending accounts, offer a valuable incentive for employees to join and stay with a company. In this lesson, we'll explore a few common types of benefits and how they work.
6. Flexible Spending Accounts: Definition & Eligibility
Flexible spending accounts offer a valuable tax break on healthcare expenses. However, it helps to be aware of the rules about these accounts and what expenses are eligible for this tax treatment.
7. Affordable Health Care Act: Description, Overview & Relevance to HR Management
One of the newest federal laws facing employers today is the Affordable Care Act. In this lesson, you'll be provided an overview of the Affordable Care Act and its relevance to human resource management. A short quiz follows.
8. Cafeteria Plans: Taxes & Regulations
Cafeteria plans are a means for employers to provide benefits to employees in a way that the employee receives favorable tax treatment for the benefits they buy through the plan.
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Other chapters within the Certified Payroll Professional (CPP): Exam Prep & Study Guide course
- Payroll Processes & Laws
- Employee Classification
- Calculating Employee Paychecks
- Payroll Withholding & Deductions
- Taxable & Nontaxable Employee Benefits
- Preparing, Depositing & Reporting Taxes
- Payroll Accounting Overview
- Payroll Audits & Internal Controls
- Managing a Payroll Department
- Certified Payroll Professional (CPP) Flashcards