Employee Benefits

Employers have the option of providing numerous benefits to their employees.  These may include medical and dental plans, retirement accounts, and child care benefits.  One area that our firm has focused on are group-term life insurance coverage.

Structured properly, an employer may provide up to $50,000 of group-term life insurance for her employee, with the money being tax deductible to the employer and non taxable to the employee.  Any amount in excess of $50,000 is taxable to the employee.

These are qualified plans, and therefore, it is imperative that these plans are non-discriminatory.  If an employer wants to favor key employees, please refer to the section on Executive Compensation.  In an Employee Benefit Plan, coverage must be provided under a formula based on factors such as age, years of service, compensation, or position.  Consult with your Aliya Advisor in choosing the proper plan for your company.