The Benefits Package, Reconsidered
BY: Jordon Geiger
- On-site fitness centers
- College tuition reimbursement
- Wellness stipends
- Gym memberships
- Work-from-home infrastructure
- Pay for volunteering
- Cash Value Life Insurance: Permanent insurance owned by the employee, with premiums paid by the company; cash accumulates in the policy and is “paid up” once a certain amount of premiums is paid.
- Rabbi Trust: An irrevocable trust that segregates plan assets for the benefit of the employee(s), but still allows creditors access to the funds if the employer becomes insolvent; all assets placed inside this type of trust grow tax-deferred until they are paid out to the beneficiary.
- Employee Stock Ownership Plans (ESOPs): Gives workers ownership interest in the company.