...| Does a 401K Benefit Affect Employee Performance? | Week 5 (Research Paper) | By: Jasmine Branch. 11/7/2014 | Executive Summary: My research paper provides an analysis of the current affects on work performance, and employee motivation with regard to employee benefits with a focus on 401(k) options. The methods of analysis include survey observations, articles read, and peer communication information received. All references can be found in the reference section as noted. Results of the information received show that employees are typically motivated by incentives given to them, those incentives do include the 401(k) option. The report finds that employees are motivated as well as feel more valued when employers extend the 401(k) option to them as well as a range of other benefits at the employers discretion. The report also thoroughly explains what motivation is and how it is manefested in the workplace to adhere to the topic as mentioned. Some limitations include studies that included 401(k) option discussions but not enough information to determine whether or not this option affected work performance. Known results are based on an overall review of the studies as they pertained to employees receiving benefits as well as how they felt after receiving those options. In business, employee satisfaction is a major factor in the success of the business. Employee satisfaction translates to customer satisfaction, which affects retention...
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...10 Reasons to Do a 401(k) Rollover to IRA kw: 401(k) rollover to IRA Meta: Before you do a 401(k) rollover to IRA, make sure that you are doing it for the right reasons. This investment decision only makes sense if you fit certain criteria. At many workplaces, your employer provides you with a 401(k) plan. If you change jobs, you may need to do a 401(k) rollover to IRA. You may be able to move your account to the new employer's 401(k) or set up an individual retirement account (IRA). Depending on your personal situation, one of these two options may be the best choice for you. 10 Reasons Why You Should Do a 401(k) Rollover to IRA 1. You Can Take Advantage of a Roth IRA While there are Roth 401(k)s, this option is not always available...
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...Many individuals believe they can rely on Social Security to cover their needs when they retire. However, if they do not take the responsibility of planning and saving for their retirement today, they will find themselves working far longer than they expected or living at a lower standard of living. Social Security was introduced during the Great Depression by President Franklin Roosevelt to provide benefits to those who qualify for retirement, disability, and death. The system is set up so that it funds itself. It uses the funds that working individuals pay into it through taxes and pays out to those collecting Social Security. This means that even though working individuals are paying the Social Security taxes today, it does not necessarily mean the money will be available for them to collect when they retire. This is because the money does not go into a retirement account for each individual paying the taxes and saved for their retirement, but instead is used to fund the system for today’s retirees. When the amount collected from tax deductions is greater than the payout to participants, the excess money is saved in the Social Security Trust Fund. Many people believe that relying solely on the Social Security System for their retirement needs is a secure plan. They assume that as people retire, there will always be a younger generation working to fund the system for current retirees’ Social Security benefits. However, this is not exactly the case. As Baby Boomers are retiring...
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...worked on farms or as craftsmen and “retirement” was something that usually occurred when you could no longer do manual labor. Many were struck down by illness, disease or accident and never made it to retirement age. Without the life-saving drugs and medical care we have today the average life expectancy was barely thirty years. With the advent of the industrial revolution, however, many farm dwellers traded their independence for membership in the ranks of a growing urbanized workforce searching for adequate wages and job security. Employers had a dilemma – they wanted to attract and retain workers while still paying no more than necessary, but also needed workers to leave employment when they became too old or costly. The evolving field of actuarial science was being applied to the fledgling life insurance industry and in turn used to develop pension plans to meet this employer objective. The Revenue Act of 1942 established minimum coverage rules in the tax code that prohibited employers from providing richer pension benefits to only higher paid employees. Employers also were now able to “integrate” and offset their contribution to Social Security benefits against the employer-provided pension benefit. This offset could result in a smaller or no pension benefit, especially for lower paid employees but allowed the employer to pass the minimum coverage rules. In 1970, about 45% of private sector workers were covered by a pension plan — the apex of the pension movement...
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...Abstract The intent of the paper is to examine current trends in the most commonly defined contribution retirement plan, the 401(k) plan. It will outline the best course of action to achieve an effective plan and maximize employee participation. This paper will review current mandates regulated by government agencies and explain the importance of remaining in compliance. Finally, the paper discusses best practices for implementation, as well as the best ways to promote a 401(k) plan within your organization. Throughout the process the details of the 401(k) plan at Tampa Bay & Company, a small sized organization, will be compared to other non-governmental company 401(k) plans to highlight specific examples and draw comparisons. Overall 401(k) Trends In response to the economic downturn there has been an increasing surge of employers who are lowering benefits associated with 401(k) plans. The most common trends are employers reducing the amount of match, reducing the portion of the match, or eliminating the match altogether. Over the past couple of years several surveys have been completed by investment firms, revealing that the number of employers who have decreased company contributions is on the rise. Some surveys show as low as a 7% decrease, but the majority of surveys claim that the amount is closer to 25% of employers who decreased matches or ceased employee contributions all together. Nearly two-thirds of employers still continue to provide matching contributions...
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...Proposed Retirement and Communication Plan HRM/324 October 28, 2013 Sharron Fletcher Proposed Retirement and Communication Plan Offering retirement benefits to employees to provide a source of income after they retire. Employees need to invest in their own retirement while working to ensure they have enough money to cover their expenses. The benefits of participating in these plans is tax-deferred earnings, and in some cases contributions are also taxed deferred. Employees can also invest in individual retirement accounts (IRAs) to augment their companies plan or to develop their own plan. "Companies establish retirement or pension plans following one of three design configurations: a defined benefit plan, a defined contribution plan, or hybrid plans that combine features of traditional defined benefit and defined contribution plans" (Martocchio, pg 259, 2009). Once the company decides on a plan, they need to develop a communication plan to encourage employee participation for the proposed retirement plan. "Setting up an employee retirement plan can be a smart way to provide for one of your key assets - your people - as well as benefiting one's business"("Nationwide", 2013). Providing a quality retirement plan helps attract and retain employees, reduce the tax burden and allows the owner to invest in their own retirement. Employers take care of their employees through salary, health...
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...FP101 Final Exam 1. When you have serious credit card debt, where is the best place to seek help? a. From a debt consolidation company b. From an independent consumer credit counseling agency, such as AICCCA or the National Foundation for Credit Counseling c. From a credit deferral service d. From a private loan organization, such as a bank or credit union. 2. Which of the following is considered secured debt? a. Student Loan b. Credit card c. Auto loan d. Debt consolidation loan 3. Students should aim to keep their total student loan debt to a. less than the salary they are likely to make their first year out of school b. less than 200% of their first-year salary c. about the total cost of 4 years of their education d. less than 150% of their first-year salary 4. Which of the following is considered a very good credit score? a. 500-559 b. 600-659 c. 700-759 d. 760-859 5. What is a credit utilization rate? a. How many open credit accounts you have b. The percentage of all your reported credit accounts that are open accounts c. Your total outstanding balance as a percentage of total credit limit d. How often you use credit to make purchases 6. What is the main disadvantage of using only a debit card? a. Debit card purchases are not reported to credit reporting agencies and therefore will not help you build your credit score. b. Not...
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...Rodgers Western Governors University The Progressive Path: A New Approach for the Modern Student Recent college graduate…in debt. Early to mid-twenties…in debt. No retirement or emergency savings…in debt. Minimal work experience…in debt. Too many Americans are subject to this common denominator…in debt. For far too long we have become accustomed to the monotony and strenuous financial burden of at least four years of college immediately following four years of high school. At times, this may be a wise path for a student to follow but we as a society need to take a step back to analyze whether or not this truly is the best path in the long run. According to Barbara King (2015), an assistant professor of mathematics at Florida International University, when she collected data pertaining to 1,947 students majoring in Life Science, Business, Social Science, Education, Humanities, and Physical Science/Engineering, she found that 37% of them switched their major, thus delaying their graduation and increasing their debt obligation. Any student planning on taking full responsibility for their tuition should consider delaying enrollment in higher education after high school to make way for an entry-level position because they are more likely to graduate with a lower debt obligation, they will enjoy a more bountiful retirement, and they will most likely be both financially literate and free. By delaying enrollment, a high school graduate can apply for an entry-level position at a company...
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...do their best work and gives them something to look forward to. As stated in the Encyclopedia of Small Business “The key to developing a reward program are as followed: Identification of company or group, goals that the reward program will support, identification of the desired employee performance or behaviors that will reinforce the programs goals, determination of key measurements of the performance or behavior, based on the individuals or groups precious achievements, determination of appropriate rewards, and communication of program of employees. To make the programs work for everyone certain guild lines have to be followed. In the early stages of developing reward strategies, incentive plans were often highly leveraged paying 15 percent to 30 percent of base pay. While these plans may have been financially attractive to employees, they encouraged employees to work harder not smarter. Over time, the process has evolved to encourage an integrated approach to performance improvement and include communication, employee involvement and feedback, which is directly linked to the business strategy. (Gibson, 1995) There are several types of reward programs that can be created such as: variable pay, bonuses, profit sharing, stock option, group-based...
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...labor market conditions. 2. Outline the advantages and disadvantages of work benefit programs. 3. Conduct an analysis on Coy Manufacturing’s work benefits to provide recommendations that will benefit Coy Manufacturing’s employee retention rate and growth of the organization. 4. Any other changes that will improve the work outcomes that management at Coy Manufacturing are concerned about. 2.0 Overview of current labor market conditions The Bureau of Labor Statistics (July 2013) outlined in a recent study that employer-provider medical care was available to 85% of full time industry workers in the United States in March 2013. The following statistics were also found: 1) 64 percent of private industry employees had access to retirement benefits, 2) paid holidays were available to 97 percent of management, business, and financial employees and 3) 72 percent of private employees that worked full time had access to life insurance benefits (BLS website, 2013). Chart 1. Full and part-time workers: Access to selected benefits, private industry, March 2013 Chart 2. Establishments by employment size: Access to selected benefits, private industry, March 2013 3.0 The advantages associated with organizations...
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...integrate career and postsecondary education planning into financial decision making. (5)(4) The mathematical process standards describe ways in which students are expected to engage in the content. The placement of the process standards at the beginning of the knowledge and skills listed for each grade and course is intentional. The process standards weave the other knowledge and skills together so that students may be successful problem solvers and use mathematics efficiently and effectively in daily life. The process standards are integrated at every grade level and course. When possible, students will apply mathematics to problems arising in everyday life, society, and the workplace. Students will use a problem-solving model that incorporates analyzing given information, formulating a plan or strategy, determining a solution, justifying the solution, and evaluating the problem-solving process and the reasonableness of the solution. Students will select appropriate tools such as real objects, manipulatives, paper and pencil, and technology and...
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...Home Benefits Brokers Benefits Managers Retirement Advisors Video Library FreeERISA Broker Innovation Lab Benefits Selling Expo Benefits Selling Magazine eNewsletters Resource Center Buyers' Guide Webcasts Events Blogs News About Us Contact Us Advertise Privacy Policy Press Room Reprints Feedback Employee Benefits Network: BenefitsPro FreeERISA Benefits Selling Broker Innovation Lab Benefits Selling Expo eNewsletters Magazine Feedback? Search Twitter Facebook Google+ LinkedIn Read Next Article Best sales and marketing tips: Social media Share This Story Advertisement Home / Benefits Brokers / Sales Strategies Best sales and marketing tips: Old school 100 sales and marketing tips, part 2 Jan 06, 2015 | By Kathryn Mayer Email LinkedIn Twitter Facebook Google+ Share This Story (Image courtesy of ponsulak/FreeDigitalPhotos.net) (Image courtesy of ponsulak/FreeDigitalPhotos.net) Our 100 sales and marketing tips list this year is broken down into 10 important categories. We've already covered social media. This list focuses on old school sales techniques. 11. Forget the group meetings, the conference calls, the social media posts: Meet with clients one-on-one. They still like it. 12. Send cards to your clients for birthdays, anniversaries or Christmas...
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...Federal Retirement Thrift Investment Board The Federal Retirement Thrift Investment Board administers the Thrift Savings Plan (TSP), a tax-deferred defined contribution plan similar to private sector 401(k) plans which provides Federal employees the opportunity to save for additional retirement security. (frtib.gov). The Federal Retirement Thrift Investment Board (FRTIB) manages over 4 ½ million asset accounts for members of the military, federal government employees, and their beneficiaries. The FRTIB’s mission is to administer the TSP solely in the interest of participants and beneficiaries. The FRTIB is managed by five board members who are appointed by the President and confirmed by the Senate. At the present time the board members are Michael Kennedy, Dana Bilyeu, Ron McCray, David Jones, and...
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...razor at home, so I rushed into the Publix Supermarkets and picked one up. It was going to be a long day, but I felt good that all the products and services I'd used so far had come from companies where the employees were substantial or principal owners. Why Employee Ownership Is Popular There are a number of reasons for the popularity of employee stock plans. ESOPs provide attractive tax benefits. They allow companies to borrow money and repay it in pretax dollars. They provide a way for owners of closely held businesses to sell all or part of their interests and defer taxation on the gain. And they make it possible for companies to provide an employee benefit simply by contributing tax-deductible shares of their own stock, among other benefits. Broadly granted stock options do not provide special tax benefits but give growing companies a way to compensate employees with equity rather than more cash. Putting company stock in 401(k) plans provides a less expensive way for companies to match employee deferrals than matching in cash. Employee stock purchase plans (often called Section 423 plans, although not all such plans fall under this part of the tax code from which the name derives) allow employees to put aside part of their paychecks to buy stock, usually at a significant discount. Just as important, however, are potential productivity gains. Studies consistently show that when broad employee ownership is combined with a highly participative management style, companies...
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...Microsoft Financial Statement Analysis Written by: William Panagos Table of Contents Introduction 3 Deferred Taxes 4 Temporary/Permanent Differences 5 Tax Provisions 5 Defined Retirement Plans 6 EPS (Earnings per Share) 6 Share-Based Compensation…………………………………………………………………………………………………………………….7 Cash Flow………………………………………………………………………………………………………………………………………………..7 Investing and Financing ………………………………………………………………………………………………………………………..7 Non-Cash Transaction………….………………………………………………………………………………………………………………..8 Conclusion …………………………………………………………………………………………………………………………………………………………….9 Introduction The following report will be a financial report analysis of Microsoft Corporation. Microsoft’s fiscal year ends on June 30th of every year. So the most recent financial information available is from 2010 and 2011. Microsoft has been a global leader in providing some of the best computer software available to the public. They help people increase productivity and efficiency as the workplace becomes more demanding. This report will include analysis of the financial and accounting aspects of their Annual Report of the Microsoft Corporation, including information from Income Statements, Balance sheets, Cash Flow Statements, and Equity. Microsoft has transformed how we share and obtain information. Microsoft has changed the way businesses and institutions operate. They have made the world a faster and easier by place making instant access to information possible...
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