Employee Benefits

Everybody who works a job, whether it is full time, part time, seasonal, or daily, wants to know that there is something more in it than just a pay check at the end of the week.

While you are working and after you retire, you are entitled to certain benefits, most notably Social Security, Medicare, and if you work on your joy long enough, you may be eligible for company sponsored retirement. When you first start a job, you should always check with the human resources department to ascertain the full scope of benefits that are available.

Along with social security and medicare, there is federal health care insurance, survivor benefits, and retirement insurance, along with opportunities to save through employer retirement plans such as a 401k plan, SEP plans, Stocks and Bonds, and other vehicles that employers offer through payroll deductions.

• Social Security: Monthly benefit for retired workers or their survivors. A worker must be deemed eligible by having paid into the system and earning enough credits.
• Medicare: A senior health care program that is administered by the Social Security Administration, for workers who are 65 and older.
• Social Security Disability: A Social Security sponsored program for workers who have long term illnesses or disabilities. The worker mush have enough earned credits to receive monthly disability payments.

• Family and Medical Leave: An employee is eligible to take up to 12 weeks of leave during a year if there is a family emergency or a medical issue. The time away from the job is unpaid, but the employer has to reinstate the employee when he or she returns. There are certain provision that apply.
• Unemployment Insurance: Compensation to those who are experiencing the loss of a job, fired, or forced to quit a job. Paid for by employers, it is administered by the state and the federal government.
• Workers' Compensation Insurance: Worker's Compensation Insurance covers work related injuries and must be provided by employers.

Your employee benefits are very important, from the time you are old enough to work until you decide to retire. Even if you work during your high school or college years, if you pay tax on your earnings, your social security credits start adding up.

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