Title: Description:
Chart of Key Employee Benefit Plans and Programs A chart summarizing different employee benefit plans and programs
Form 6.29
Chart of Key Employee Benefit Plans and Programs Type Cafeteria Plan: Defined Benefit Pension Plan: Summary Provides employees with a choice of different benefits. A pension plan that provides employees with a specific amount of payment upon retirement, depending on the employee’s length of service and level of compensation. A pension plan that provides that the employer will contribute a prescribed amount into a pension plan each year. Provides employees with certain payments on disability. A plan which provides employees coverage for certain health, medical and accident occurrences. Provides for group-term life insurance for employees. Gives employees the economic advantages (without actually issuing stock) of stock in the employer if the stock appreciates. A program where the employees share a percentage of the profits from the business. Provides for cash bonuses or other payment if the employee stays employed for a designated period of time. A form of retirement plan that employees or employers can contribute to the plan, and the buildup in the employee’s rights under the plan are not taxed until withdrawal or at certain age l