Legal Requirements for Employee Benefits Essay Example for Free

Legal Requirements for Employee Benefits Essay As we discussed earlier in this chapter, some benefits are required by law. This requirement adds to the cost of compensating employees. Organizations looking for ways to control staffing costs may look for ways to structure the workforce so as to minimize the expense of benefits. They may require overtime rather than adding new employee, hire part-time rather than full-time workers(because part-time employees generally receive much smaller benefits packages),and use independent contractors rather than hire employees. Some of these choices are limited by legal equirements, however. For example ,the Fair Labor Standards Act requires overtime pay for nonexempt workers, as discussed in chapter 11. Also,the Internal Revenue Service strictly limits the definition of independent contractors,â€Å" so that employees cannot avoid legal obligations by classifying workers as self-employed when the organization receives the benefits of a permanent employee . Other legal requirements involve tax treatment of benefits ,antidiscrimination laws, and accounting for benefits. Tax treatment of benefits A modern, flexible benefit plan provides a number of potential tax advantages to employees and employers. Employees A flexible benefit plan allows employees to choose to swap some of their existing benefits or purchase benefits from a menu of options. Payments in excess of the employees spending allowance are normally collected via a gross salary adjustment. If employees exchange salary for tax exempt benefits (pensions, life cover, childcare vouchers, mobile phones, etc. ), they do not pay tax or National Insurance on the amount exchanged. This gives a basic rate tax payer earning less than the National Insurance (NI) Upper Earnings Limit (UEL) a saving of 33% compared to receiving the money as salary. For example, an employee that exchanges ? 200 per month of their salary for childcare vouchers and additional pension payments will save ? 792 in tax and NI compared to taking the money as salary. Even if the benefits are not tax exempt, employees can still exchange salary for employer provided benefits and, whilst they will be charged income tax, they save NI as their salaries have been reduced by the value of the benefit. This gives employees earning under the UEL an 11% saving. Employers Employers participating in a flexible benefit plan do not pay employers NI on payments on payments to exempt benefits. If these payments have been exchanged from salary by employees then the employer will save 12. 8% employers NI on the amounts. For example, an employee that exchanges ? 200 per month of their salary for childcare vouchers and additional pension payments will deliver an annual NI saving to the employer of ? 307. Antidiscrimination Laws  Legal treatment of men and woman includes equal access to benefits, so the organization may not use the employee’s gender as the basic for providing more limited benefits. That is the rationale for the Pregnancy Discrimination Act, which requires that employers treat pregnancy or childbirth, the employee needs time off for conditions related to pregnancy or childbirth, the employee would receive whatever disability benefits the organization offers to employees who take disability leave for other reasons. Another area of concern in the treatment of male and female employees is pension benefits. On average, woman live longer than men, so on average, pension benefits for female employees are more expensive (because the organization pays the pension longer), other things being equal. Some organizations have used this difference as a basis for requiring that female employees contribute more than male employees as a basis for requiring that female employees contribute more than male employees to defined benefit plans. The Supreme Court in 1978 determined that such a requirement is illegal. According to the Supreme Court, the law is intended to protect individuals, and when women are considered on an individual basis ( not as averages ), not every woman outlives every man. Age discrimination is also relevant to benefits policies. Two major issues have received attention under the Age Discrimination in Employment Act (ADEA) and amendments. First, employers must take care not to discriminate against workers over age 40 in providing pay or benefits. For example, employers may not set an age at which retirement benefits stop growing as a way to pressure older workers to retire. Also, early retirement incentive programs need to meet certain standards. The programs may not coerce employees to retire, they must provide accurate information about the options available, and they must give employees enough time to make a decision. In effect, employees must really have a choice about whether they retire. When employers offer early retirement, they often ask employees to sign waivers saying they will not pursue claims under the ADEA. The Older Workers Benefit Protection Act of 1990 set guidelines for using these waivers. The waivers must be voluntary and understandable to the employee and employer , and they must spell out the employees rights under the ADEA. Also , in exchange for signing the waiver, the employee must receive â€Å"compensation† that is , greater benefits than he or she would otherwise receive upon retirement. The employer inform employee that they may consult a lawyer before signing, and employee must have time to make a decision about signing-21 days before signing plus 7 days afterward in which they can revoke the agreement. The Americans with Disabilities Act imposes requirements related to health insurance. Under the ADA, employees with disabilities must have equal access to whatever health insurance coverage the employer provides other employees. Even so, the terms and conditions of health insurance may be based on risk factors -as long as the employer does not use this basis as a way to escape offering health insurance to someone with a disability. From the standpoint of avoiding legal challenges, an employer who has risk-based insurance and then hires an employee with a disability is in a stronger position than an employer who switches to a risk-based policy after hiring a disabled employee. Accounting Requirements Companies financial statement must meet the many requirements of the Financial Accounting standards Board ( FASB) . These accounting requirements are intended to ensure that financial statements are a true picture of the companys financial status and that outsiders, including potential lenders and investors , can understand and compare financial statements . Under FASB standards, employers must set aside the funds they expect to need for benefits to be paid after retirement, rather than funding those benefits on a pay-as-you-go basis. On financial statement, those funds must appear as future cost obligations. For companies with substantial retirement benefits, reporting those benefits as future cost obligations greatly lowers income each year. Along with rising benefits costs. This reporting requirement has encouraged many companies to scale benefits to retirees. Summarize the regulation affecting how employers design and administer benefits program. Employers must provide the benefits that are required by law, and they may not improperly classify employees as independent contractors to avoid paying benefits. Tax treatment of qualified plans is favorable, so organizations need to learn the requirements for setting up benefits as qualified plans-for example, ensuring that pension plans do not discriminate in favor of the organizations highly compensated employees. Employers may not use employees gender as the basis for discriminating against anyone, as in pension benefits on the basis that women as a group may live longer. Nor may employers discriminate against workers over age 40 in providing pay or benefits, such as pressuring older workers to retire by limiting retirement benefits When employers offer early retirement, they must meet the requirements of the Older Workers Benefit Protection Act of 1990. Under the Americans with Disabilities Act, employers must give disabled employees equal access to health insurance. To meet the requirements of the Financial Accounting Standards Board, employers must set aside the funds they expect to need for retirement benefits ahead of time, rather than funding the benefits on a pay-as-you-go basis

Turkey Vultures :: essays research papers

Turkey Vultures   Ã‚  Ã‚  Ã‚  Ã‚  Vultures are large birds of prey closely related to hawks and eagles. They are divided into New World vultures and Old World vultures, both belonging to the order Falconiformes. The New World vultures, in the family Cathartidae, consist of seven species in five genera. Among the New World vultures include the Cathartes aura, also known as the Turkey Vulture.   Ã‚  Ã‚  Ã‚  Ã‚  Scientists say that turkey vultures are shy, inoffensive birds. Some researchers have discovered that the bird is very helpful to the environment. Its habit of cleaning up decaying and diseased carcasses makes it a sanitary engineer par excellence, while its keen sense of smell has been pressed into service to find wasteful and dangerous gas leaks. And the vulture’s unique knack for conserving energy has intrigued scientists for years.   Ã‚  Ã‚  Ã‚  Ã‚  Although the turkey vulture has a large, turkeylike body and sporty red head, it is not even distantly related to the turkey. Instead, turkey vultures- along with their cousins in the United States, the black vulture of the South and East, and the nearly extinct California condor-belong to a group of raptors called New World vultures. Chromosome analysis shows that the New World vultures are actually more closely related to storks than to the vultures of Europe, Asia, and Africa.   Ã‚  Ã‚  Ã‚  Ã‚  Turkey vultures are remarkably successful birds. They range everywhere from parts of Canada and much of the United States to South America. At home in deserts, prairies and woodlands, they have even settled close to people in a number of urban and suburban areas.   Ã‚  Ã‚  Ã‚  Ã‚  Observed in flight, the turkey vulture appears black with the underside of its wings grayish or silvery, giving the birds a two-toned appearance. They characteristically hold their wings in a slight V, or dihedral, thus aiding identification. On rare occasions, they hold their wings flat and eagle-like which, if seen at a great distance, may cause the birds to resemble eagles. In flight, the turkey vulture holds it’s naked head, crimson-red as adults and grayish-black as immatures, downward in contrast to eagles, which hold their heads forward.   Ã‚  Ã‚  Ã‚  Ã‚  The tail of the turkey vulture extends far beyond the rear edge of its wings. They typically rock or tilt from side to side while gliding or soaring on updrafts or circling overhead. Their occasional wingbeats are powerful and labored. Turkey vultures are large birds with wingspreads of about six feet. Their wings are long, moderatly wide, and have strongly slotted tips. Typically, the wings are held slightly above a horizontal plane when the bird is aloft. This forms a characteristic dihedral which is very useful in making correct field identification. Although turkey vultures use thermals, they are more

Emmett Till

Makayla Richards Mrs. Bonham Literature 101 5 March 2013 Emmett Till Research Paper Three Major Points: Lynching, Mississippi Trial, 1955 Thesis Statement: The murder of Emmitt Till was a murder that changed America The Emmett Till Case, 1955 Chilling Circumstances The story surrounding the death of Emmett Till provides chilling insight into the racism that dominated the South in the 1950s. Emmett was a fourteen-year-old Chicago native visiting his relatives in Mississippi.While out with his cousins and friends on the night of August 24, 1955 he allegedly whistled at a white woman in the grocery store owned by her husband. Stories vary as to what Till actually said or did. According to the woman Till grabbed her and made rude remarks. Some witnesses claimed that he only whistled at her. Still others assured that he made no problems at all, that he whistled continuously to control a speech defect. A Brutal Murder Roy Bryant considered his wife's life ruined by the incident. Several ni ghts after the episode, Bryant, his half brother J. W.Milam, and possibly others kidnapped Emmett from his relatives' house in the middle of the night. The two men beat him severely and, apparently saw that he had a picture of a white woman in his wallet, they shot Emmett and threw him in a nearby river. Several days later the body was found, and Bryant and Milam were charged with murder. A Surprise Verdict Mississippi politicians and newspapers condemned the murderers and promised justice. However, Mississippians became more defensive as the weeks passed. The Press attacked them with harsh judgment of racial violence in the South.The highly publicized trial of the two men was charged with racial tension. African-American politicians and reporters from the North were treated horribly and were segregated in the courtroom. The prosecution was poorly prepared, and the substance of the defense was the shocking claim that Till was not actually dead. The Killers Tell the Truth The truth o f what happened that night became public knowledge several months after the trial. William Bradford Huie, an Alabama journalist in Mississippi to report on the aftermath of the case, offered Bryant and Milam money to tell their story.Since the two could no longer be prosecuted for a crime of which they had already been accused of, they gladly told for a fee of how they had beaten and killed young Emmett Till. Huie reported what the killers told him in the January 24, 1956 issue of  Look magazine. Now publicly exposed as murderers, Bryant and Milam were shunned by the community, and both moved elsewhere within a year. Emmett Till in death became a saint for the civil rights movement, a symbol of the racial hatred African-Americans who had yet to overcome the situation.Citations: MLA Citation â€Å"Emmett Till†. Anti Essays. 23 Mar. 2013 APA Citation Emmett Till. Anti Essays. Retrieved March 23, 2013, from the World Wide Web: Source Citation:  Ã¢â‚¬Å"The Emmitt Till Case, 1 955. †Ã‚  Discovering U. S. History. Gale Research, 1997. Reproduced in Discovering Collection. Farmington Hills, Mich. : Gale Group. October, 2001. Stephen J. Whitfield,  A Death in the Delta: The Story of Emmett Till  (New York: Free Press, 1988). Source Database:  Discovering U. S. History

Project management email Essay

Our team has done the required analysis based on the information that was given to us. We would like to recommend the Piper Industries Corp. to pursue with the project Palomino for future investments. We arrived at this conclusion based on the risks involved, feasibility study, break even analysis and return on the investment studies. It has been stated as a requirement that the project has to be finished and it should start generating revenue within the next 12 months. Below you will find a detail description of the different phases of a project and then an analysis on all three projects, followed by our recommendation. Phases of a project From the start to finish a project can be divided into five different phases (http://www.projectinsight.net/project-management-basics/basic-project-management-phases). Project conception and initiation The purpose of this phase is to define the project accomplishments. This is a critical phase as it is essential for those who will deliver the product/service, for those who will use the product/service, and for those who have a stake in the project to reach agreement on its initiation (http://pmstats.dis.arkansas.gov/Meth/05-Initiation%20phase.pdf). During this phase, the idea of the project is analyzed to see how beneficial it is to the business. Project definition and planning This phase defines the project scope and its activities. It outlines the tasks that have to be performed to complete the project. During this phase, a team should prioritize the project, calculate a budget and schedule, and determine what resources are needed (http://www.projectinsight.net/project-management-basics/basic-project-management-phases). Project launch or execution During this phase, the defined project activities are started to be executed. The project manager moves his attention from planning to execution. A constant monitoring of project risks is required during this phase. There will be a daily interaction between the team members, to successfully finish the execution tasks. Project performance and control Progression of the project is measured during this phase. The current status of the project will be compared with the actual plan. Scope verification and control to check and monitor for scope creep, change control to track and manage changes to project requirement, calculating key performance indicators for cost and time are to measure the degree of variation if any and in which case corrective measures are determined and suggested to keep project on track (http://project-management.com/top-5-project-management-phases/). Project closure During this phase the project tasks are satisfactorily completed and tested, the client approves the project. The project team evaluates success or failure of the project and documents key learning’s, to implement in future projects. This phase also involves in relieving project resources, reward and recognizes team members and formal termination of contractors in case they were employed on the project (http://project-management.com/top-5-project-management-phases/). Analysis of the proposed project Risk of project completion assessment Based on the risk of completion assessment, Juniper has the lowest impact, Stargazer the highest and Palomino has the medium risk of finishing the project on time. The critical path is known in both Juniper and Palomino, whereas there is no indication of critical path in Stargazer. The notes also say that there are still open questions from the business on Stargazer, which increases the risk of completing the project on time. The basic requirement from the management is that the project should be completed and generating revenue in 12 months. On this basis, it is better for the company to choose either Palomino or Juniper. Delivery Dates based on the assumption that the project starts on January 1st 2015 Juniper: June 31st 2015 Palomino: September 31st 2015 Stargazer: Unknown ROI assessment and break even analysis For Juniper the return on investment is $250,000 yearly for the next two to three years, which could provide $500,000 to $750,000. The cost of doing the project is $325,000. So the project breakeven point is within 2 years. For Palomino, the ROI is $450,000 yearly for the next five years, which will result in $2,250,000. The cost of doing this project is $655,000. Even with the 5% margin of error, the breakeven for this project is within 2 years. For Stargazer, the ROI is, $1,600,000 ($300,000 first year; $550,000 the second year; and $750,000 the third year). There is no information on the ROI for the rest of the years. So there is an unknown factor involved in this project. The cost of this project is $1,025,000 ($450,000 + $575,000). The breakeven for this project is within 3 years. Based on this assessment, the breakeven point is lesser if the company pursues Juniper or Palomino. Product lifecycle Juniper’s product has only 3 years of life cycle, while both Stargazer and Palomino has 7 years of product life. Based on this assessment, the company will profit if it chooses Stargazer or Palomino. Feasibility Analysis A feasibility assessment is the disciplined and documented process of thinking through an idea from its logical beginning to its logical end (http://www.agmrc.org/business_development/starting_a_business/marketbusiness_assessment/articles/assessing-the-feasibility-of-businesspropositions/). With Juniper project, the product is feasible, as we can predict the forecasting of its schedule. It starts to generate profit within 12 months. But since the product life span is less, the company’s profit ends soon. Stargazer, even though it is an innovative product it is risky and it has unanswered business questions, so it may not be feasible to complete the project on time. Its forecasting variance is very high. Even though a sunk cost of $450,000 is involved in this project, there is no guarantee for the product to start generating returns in 12 months if we pursue this project. In Palomino project, the risk is medium and the critical path is known. Recommendation: Even though Palomino has a 5% margin of error from its supplier, we conclude that this project is more feasible and profitable than the other two.

Staffing Example

Staffing Example Staffing – Coursework Example Structured interview form for World Bank World Bank is a United Nations branch; it is in United s, Washington. It was started in 1944 with an aim to reduce poverty in developing countries. It provides loans and financial assistance to membered countries all over the world. In this question, have decided to be a Human Resources Manager of the World Bank, by conducting an interview of recruiting employees to work in different departments in the Bank. The interview will be tight because the number of interviewees is high. Interviewing is the best way to recruit employees, because it completely assesses the interviewee knowledge and interpersonal skills. Tell us what you understand about World BankThe answer to this question helps to evaluate the experience of the interviewee about the bank. It helps to identify if he/she has self-interest in the bank and if they know what they will be doing in the bank. They know roughly about the activities conducted in the bank, the purpose of the ban k, its strengths and weaknesses. It will help to identify the most serious interviewees in the interview and those who have attended just for the sake of attending.How can you handle a misbehaving client in your office?This question identifies the performance of the interviewee and his customer service skills. Their attitude concerning a problem with their clients and how they can best solve it. The performance matters in any business because it also depicts on how the interviewee will be relating with the other workers and the top management. Good behavior is a crucial component in an interview. Do you have any cash handling experience?This question will assess how the interviewee can handle much cash that is flowing in his day to day activities. It looks at the transparency of the individual to handling cash if he/she knows how to record balance sheets and other cash flow documents, how to best avoid stealing money or the disappearance of money with no exact source.Tell us more ab out the banking law amendment billThis question helps to know if the interviewee knows more about the current affairs concerning the banking sector, what change have been made lately, the performance of other banks, the importance of listening to the news and reading some banking journals.What do you understand by the term depositing, withdrawing, cheque and bank slips?This question helps to identify if the interviewee knows some basic terms of the banks. It helps to avoid misunderstanding or poor performance skills of the worker. This question helps to identify the education and experience level of the interviewee. General knowledge about the subject in which one will be interviewed.In summary, interviews are important in recruiting of employees because they help to assess the information and performance skills of the employees. It will help to counter any work related problems after recruiting employees.ReferenceMargret, D., (2006), The Essential Guide to Recruitment: How to Condu ct Great Interviews and Select the Best Employees. London: Kogan Page Publishers

Pro Forma Sessions in Congress

Pro Forma Sessions in Congress In the daily agendas of the House of Representatives and Senate, you will often see that House or Senate leaders have scheduled a â€Å"pro forma† session for the day. What is a pro forma session, what is its purpose, and why do they sometimes stir up political firestorms? Key Takeaways: Pro Forma Sessions Pro forma sessions are meetings of the U.S. Congress held â€Å"in form only.† Either house of Congress can hold pro forma sessions.During pro forma sessions, no votes are taken and no other legislative business is conducted.Pro forma sessions are held for the purpose of meeting the â€Å"three-day rule† in Article I, Section 5 of the U.S. Constitution. The three day rule prohibits either chamber of Congress from not meeting for more than three consecutive calendar days during a congressional session without the approval of the other chamber. The term pro forma is a Latin term meaning â€Å"as a matter of form† or â€Å"for the sake of form.† While either chamber of Congress can hold them, pro forma sessions are most often held in the Senate. Typically, no legislative business, such as the introduction or debate on bills or resolutions, is conducted during a pro forma session. As a result, pro forma sessions rarely last more than a few minutes from gavel-to-gavel. There are no constitutional restrictions on how long pro forma sessions must last or what business may be conducted in them. While any Senator or Representative present can open and preside over a pro forma session, the attendance of other members is not required. Indeed, most pro forma sessions are conducted before nearly empty chambers of Congress.   A Senator or Representative from one of the nearby states of Virginia, Maryland or Delaware is usually chosen to preside over pro forma sessions since members from other states have usually left Washington, D.C. for vacations or meeting with constituents in their home districts or states. The Official Purpose of Pro Forma Sessions The officially stated purpose for pro forma sessions is to comply with Article I, Section 5 of the Constitution, which prohibits either chamber of Congress from adjourning for more than three consecutive calendar days without the consent of the other chamber. Scheduled long-term breaks provided for in the annual legislative calendars for  sessions of Congress, such as the summer breaks and district work periods are typically provided for by the passage in both chambers of a joint resolution declaring the adjournment. However, the numerous unofficial reason for holding pro forma sessions of Congress often results in controversy and politically hurt feelings. The More Controversial Purpose of Pro Forma Sessions While doing so never fails to raise controversy, the minority party in the Senate often holds pro forma sessions specifically to prevent the President of the United States from making â€Å"recess appointments† of persons to fill vacancies in federal offices that require the approval of the Senate. The president is allowed under Article II, Section 2  of the Constitution to make recess appointments during recesses or adjournments of Congress. Persons appointed by recess appointments assume their position without the approval of the Senate but must be confirmed by the Senate before the end of the next session of Congress, or when the position again becomes vacant. As long as the Senate meets in pro forma sessions, Congress never officially adjourns, thus blocking the president from making recess appointments. However, in 2012, President Barak Obama made four recess appointments during Congress’ winter break, despite a run of daily pro forma sessions called by Senate Republicans. Obama argued at the time that pro forma sessions do not block the president’s â€Å"constitutional authority† to make appointments. Despite being challenged by Republicans, Obama’s recess appointees were eventually confirmed by the Democrat-controlled Senate.

South Asian Art Essay Example | Topics and Well Written Essays - 500 words

South Asian Art - Essay Example As with other figures of Buddha, The Head of Buddha features lakshanas to portray that he is the Enlightened One. The Buddha's bulge on his head signifies his "transcendent knowledge" and excellent mental capacity. It should also be noted that Buddha has long empty ears as he formerly wore big, heavy goal earrings as a prince. However, as he accepted pain and suffering, he took off his power and riches including his royal garment and earrings to be freed from material wealth (Kossak and Watts 27). The Head of Buddha's gesture also shows one important quality of Buddha. We can see that the eyes of Buddha are half-closed signifying that he is very peaceful and quiet. The artist used this gesture to depict this deep contentment in life. The figure shows the image of another reincarnation of the Great Goddess Devi. In Hindu mythology, Parvati is the reincarnation of Sita who killed herself "because of an insult to her husband" (Kossak & Watts 30). Parvati's image in the sculpture, both in shape and in gesture, symbolizes what she came here for-"lure the mourning Shiva to other marriage" (Kossak & Watts 30). Parvati is depicted as very alluring with huge breasts and small waist. Parvati, thus, became a symbol for "fertility, marital felicity, devotion to spouse, asceticism, and power" (Parvati 2).