Friday, March 30, 2007
Tweet[IWS] BLS: PRETAX BENEFITS: ACCESS TO SEC. 125 CAFETERIA BENEFITS & HEALTH SAVINGS ACCOUNTS in the U.S., Private Industry [28 March 2007]
IWS Documented News Service
_______________________________
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
________________________________________________________________________
Compensation and Working Conditions Online [28 March 2007]
http://www.bls.gov/opub/cwc/home.htm
Pretax Benefits: Access to Section 125 Cafeteria Benefits and Health Savings Accounts in the United States, Private Industry [28 March 2007]
http://www.bls.gov/opub/cwc/cm20070321ar01p1.htm
[excerpt]
In an effort to attract and retain employees, employers provide compensation packages that include wages and benefits. Benefits that are paid for by the employer generally are not taxable to the employee. If benefits, such as group life insurance, are paid for by the employee, generally the money used to pay for the benefits is taxable. In recent years, tax laws have been created that permit certain benefits--such as defined contribution (401(k)) retirement benefits, < http://frwebgate.access.gpo.gov/cgi-bin/getdoc.cgi?dbname=browse_usc&docid=Cite:+26USC125 > section 125 cafeteria benefits, and < http://www.bls.gov/opub/cwc/cm20061127ar01p1.htm> health savings accounts--to be paid for with pretax money. Pretax benefits enable both employers and employees to set aside money on a tax-free, salary-reduction basis for retirement expenses as well as for qualified dependent care and healthcare expenses. As employers seek to keep the costs of employee benefits under control, and employees seek to maximize their take-home pay, pretax benefits have become more prevalent.
AND MUCH MORE.....
______________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
****************************************
_______________________________
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
________________________________________________________________________
Compensation and Working Conditions Online [28 March 2007]
http://www.bls.gov/opub/cwc/home.htm
Pretax Benefits: Access to Section 125 Cafeteria Benefits and Health Savings Accounts in the United States, Private Industry [28 March 2007]
http://www.bls.gov/opub/cwc/cm20070321ar01p1.htm
[excerpt]
In an effort to attract and retain employees, employers provide compensation packages that include wages and benefits. Benefits that are paid for by the employer generally are not taxable to the employee. If benefits, such as group life insurance, are paid for by the employee, generally the money used to pay for the benefits is taxable. In recent years, tax laws have been created that permit certain benefits--such as defined contribution (401(k)) retirement benefits, < http://frwebgate.access.gpo.gov/cgi-bin/getdoc.cgi?dbname=browse_usc&docid=Cite:+26USC125 > section 125 cafeteria benefits, and < http://www.bls.gov/opub/cwc/cm20061127ar01p1.htm> health savings accounts--to be paid for with pretax money. Pretax benefits enable both employers and employees to set aside money on a tax-free, salary-reduction basis for retirement expenses as well as for qualified dependent care and healthcare expenses. As employers seek to keep the costs of employee benefits under control, and employees seek to maximize their take-home pay, pretax benefits have become more prevalent.
AND MUCH MORE.....
______________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
****************************************
# posted by SBasefsky : 4:26 PM
