benefit by (something) To gain from a particular experience, change, or occurrence. We will all benefit by moving to a warmer, sunnier climate.
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Benefits and Financial Assistance from the Government
If you're looking for immediate or emergency help, your state's human service or social service agency might be able to help. They can either provi...
How to Apply for Unemployment Benefits
There are a variety of benefit and aid programs to help you if you lose your job. CareerOneStop.org is a good place to start. It can help with unem...
Food Stamps (SNAP Food Benefits)
The Supplemental Nutrition Assistance Program (SNAP) is a federal nutrition program. Known previously as "food stamps," SNAP benefits can help you...
Welfare or Temporary Assistance for Needy Families (TANF)
Temporary Assistance for Needy Families (TANF) is a federally funded, state-run benefits program. Also known as welfare, TANF helps families achiev...
Medicaid and Children's Health Insurance Program (CHIP)
Medicaid is a federal and state health insurance program for people with a low income.The Children’s Health Insurance Program (CHIP) offers health...
What does "benefits outweigh the risks" mean?
1 a : something that produces good or helpful results or effects or that promotes well-being : advantage discounted prices and other benefits of a museum membership The benefits outweigh the risks of taking the drug. reaping the benefits of their hard work changes that will be to your benefit.
How does an heir get the benefit of inventory?
Note: The heir obtains the benefit of inventory by having a qualified public officer (as a notary public) make an inventory of the assets in the estate within the time period set by statute. 3 a : financial help in time of disability, sickness, old age, or unemployment.
What is retirement benefit?
Retirement. Retirement benefits help employees feel more secure about their future after retirement. In the U.S., for example, a common benefit is the 401 (k) in which both company and employee make defined contributions to the employee’s account on a regular basis.
What is fringe benefit?
Before we get into the nitty-gritty of employee benefits (or fringe benefits), let’s define the term: Employee benefits are any kind of tangible or intangible compensation given to employees apart from base wages or base salaries. This employee benefits definition points to examples of job benefits such as insurance (including medical, dental, ...
Why do employers pay attention to demographics?
Also, some employers pay attention to the demographics of their employee base to give everyone the benefits they need most based on their characteristics. For example, in order to retain and engage millennials, businesses may offer them benefits such as student loan repayment support and co-sign support for auto loans.
How do employees choose to invest?
Employees choose how to invest contributions, or how much to contribute from their paycheck through pre-tax deductions. Employers may also contribute, in some cases by matching a certain percentage of employees’ contributions. At retirement, employees receive the balance in their account.
How does employee benefit affect HR?
Employee benefits have a significant impact on the administrative aspect of HR, especially when regulatory issues are involved. But there are ways to manage benefit plans more effectively to save time and reduce the possibility of mistakes. Here are five things to consider:
How to find the right software for HR?
To find the right software, do your research and make a compelling business case. Measure benefits and costs diligently . This will be the responsibility of the finance department, but it’s important for HR to keep track of rising or plummeting costs and gains.
Can employees have benefits if they don't know?
No number of great benefits will be effective if employees don’t know they have them . Prepare a section in your Employee Handbook to give important information on what your company offers ( use our benefits and perks template as an employee benefits package example to get started with your own).
What is the formula for Social Security benefits?
The Social Security benefits formula is designed to replace a higher proportion of income for low-income earners than for high-income earners. To do this, the formula has what are called “bend points." These bend points are adjusted for inflation each year.
How is Social Security decided?
Your Social Security benefit is decided based on your lifetime earnings and the age you retire and begin taking payments. Your lifetime earnings are converted to a monthly average based on the 35 years in which you earned the most, adjusted for inflation. Those earnings are converted to a monthly insurance payment based on your full retirement age.
What is wage indexing?
Social Security uses a process called wage indexing to determine how to adjust your earnings history for inflation. Each year, Social Security publishes the national average wages for the year. You can see this published list on the National Average Wage Index page. 3 .
Benefit Calculators
The best way to start planning for your future is by creating a my Social Security account online. With my Social Security, you can verify your earnings, get your Social Security Statement, and much more – all from the comfort of your home or office.
Online Benefits Calculator
These tools can be accurate but require access to your official earnings record in our database. The simplest way to do that is by creating or logging in to your my Social Security account. The other way is to answer a series of questions to prove your identity.
Additional Online Tools
Find your full retirement age and learn how your monthly benefits may be reduced if you retire before your full retirement age.
Why are benefits important?
Benefits can improve focus and productivity. A good benefits package that offers perks such as paid time off, health insurance and disability insurance can prevent employees from worrying about things like finances, medical expenses and child care. If employees are more confident about personal matters before, during or after work, they can better focus on their tasks and career advancement.
What are the benefits of retirement?
Some companies offer retirement benefits such as employee pension plans and 401 (k)s, which allow employees to put a pretax percentage of their earnings toward their retirement savings. An employer might contribute to or match a certain amount of those funds. Other types of retirement plans include profit-sharing, stock bonus, employee stock ownership and cash balance plans.
What is a good benefits package?
Benefits such as paid time off, workplace perks, wellness programs and tuition reimbursement can make employees feel valued. This can lead to employees who are happy to be in their job, loyal to the company and motivated to do good work.
What is the benefit of having more than 50 employees?
The Affordable Care Act requires companies with more than 50 employees to provide health insurance to 95% of full-time employees or pay a significant fee to the IRS.
What are the benefits of working from home?
Work-life balance, or the harmony between your career and your personal life, has become increasingly important to employees. Benefits that improve work-life balance include vacation time, unlimited or generous paid time off, flexible hours and the ability to work from home. These types of benefits can help reduce employee stress and fatigue and prevent burnout. Employees are likely to be more productive at work and at home as a result.
How to confirm benefit outcome?
Confirm the benefit outcome contributes to meeting the business objective. In Step 1, the analyst links a business objective to an action and tangible outcomes from the action. Step 2 is the process of showing in convincing terms that the outcome truly follows from the action.
What is the central task in cost/benefit studies?
Predicting future costs and benefits this way is, in fact, the central task in cost/benefit studies and business case analysis. Approaching this task, some see benefits merely as "good" outcomes and costs only as "bad" outcomes. To others, cost means "funds flowing out," and benefit means "funds flowing in.".
What are the positive financial outcomes?
Most business readily accept positive financial outcomes as business benefits . These are easy to measure in terms of cost savings, revenue growth, cash inflows, or profits. Many , however, are uncertain about how to measure or value contributions to business objectives they define in nonfinancial terms.
What are the highest level objectives for government and non-profit organizations?
The highest level objectives for government and non-profit organizations, however, are something besides "earning profits." Highest-level objectives for these groups appear in mission statements about service delivery and the populations they serve. These organizations, nevertheless, also pursue revenue and spending objectives such as these:
What is the objective of keeping profits as retained earnings?
Secondly, keeping profits as retained earnings, thereby increasing owners equity. Most other objectives in private industry exist—at least in principle—to support the high-level profit objective. As a result, any action outcome that arguably contributes to the profit objective qualifies as a business benefit.
What are high value non-financial benefits?
High-Value Non-Financial Benefits. Department stores that sell prestige designer brands must compete with other stores that carry the same brands. With high-end products, typically, stores do not compete on price. Instead they try to win customer business with strong store-branding and excellent customer service. Improvements in these areas are high-value nonfinancial benefits. [Photo: Shopping on Oxford Street, London, December 1937]
How do companies use profits?
In any case, companies can use profits in only two ways. Firstly , paying profits directly to owners as dividends. Secondly, keeping profits as retained earnings, thereby increasing owners equity.
