ruta 100 words and reference 

1. Discuss the reasons why an employer might want to provide an employee benefit plan. 

According to Leimberg (2017), employers provide employees with benefit plans to help them meet certain financial obligations that, sometimes, cannot always be attained by an employee. Employers can use unique tax benefits to deduct certain costs by providing employee benefit plans, for example, healthcare plan costs (Leimberg, 2017). Employee benefit plans are essential when it comes to attracting high-quality employees. On top of it, an attractive employee benefit plan may reduce employee turnover, increase retention, and increase overall morale and satisfaction (Carpenter, n.d.). One of the most common and essential employee benefits is health insurance. The cost of health insurance is considerably high in the United States of America, and not having one in the event of severe health problems can have a negative financial impact on an employee. Retirement saving plans encourage employees to start saving for the future and allow them to use a tax “leverage.” Another common benefit is life insurance which can be a very useful benefit in the event of sudden or unexpected death to the surviving beneficiary (Leimberg, 2017).

2. Refer to the materials in Content>Week 1 and discuss the importance of capital retirement needs analysis.

The capital retirement needs analysis is an essential tool that provides an estimated amount of money the person will need to retire comfortably, and the capital required to cover the shortfall after completing the retirement needs analysis if needed. It considers current assets, additional payments, rate of return, and an approximate amount of retirement. The amount is then compared to the original amount to meet the projected retirement and determines if it is sufficient or if additional savings are required. There are different ways to ensure a retirement shortfall does not happen by increasing the retirement age, finding a part-time job, or simply lowering the living standard at the retirement age. Some clients may choose high-risk investments; however, it is not advised close to retirement age (Leimberg, 2017).

3. Discuss the significance and impact of employee benefit plans for retirement planning.

Employee benefit plans for retirement can encourage employees to save for retirement, which could help them increase their financial stability at retirement age. Contributions made by the employer to employee retirement plans are tax deductible. By offering an attractive retirement plan, the employer will attract new employees and retain the current ones. From the employee perspective, retirement contributions can lower the taxable income and can be transferred from one employer to another. (Leimberg, 2017). For example, my company offers to match 401(k) contributions up to 3%. I would like to find out what other companies have to offer.

References 

Leimberg, S. R. (2017). The tools and techniques of employee benefit and retirement planning. EBSCO Publishing. https://learn.umgc.edu/d2l/le/content/762667/viewContent/29132660/View

Leimberg, S. R. (2017). The tools and techniques of employee benefit and retirement planning. EBSCO Publishing. https://learn.umgc.edu/d2l/le/content/762667/viewContent/29132660/View

Leimberg, S. R. (2017). The tools and techniques of employee benefit and retirement planning. EBSCO Publishing. https://learn.umgc.edu/d2l/le/content/762669/viewContent/29167722/View

 Second student 

Eric 

Discuss the reasons why an employer might want to provide an employee benefit plan.   

An employer would want to provide an employee benefits plan for several reasons. Number one on the list is to help employees. Organizations are built around people and should be considered the business’s number one asset. As stated in this week’s reading, a benefit plan can help employees to meet financial needs by reducing healthcare costs and saving for retirement and family protection. (Leimberg, 2017) Providing those things will aid in the recruitment, reward, retainment, and ultimately the retirement of personnel while encouraging productivity throughout the organization.

Secondly, having an employee benefit plan will provide unique tax benefits to the organization by providing up-front deductions for funding qualified retirement plans. Another reason is that Employers’ health care plans are fully deductible, and some other benefits allow significant tax benefits.

Third, it can help reduce labor costs and the cost of turnover. Training new employees can be expensive, and having a benefits plan to retain current members and to help cut back on constantly hiring people due to a revolving door of employees. (WorldatWork, & Dan Cafaro, 2020)

2. Refer to the materials in Content>Week 1 and discuss the importance of capital retirement needs analysis.

A well-funded retirement plan will help us live comfortably in our retirement years. A capital retirement needs analysis will help to see where we stand and where we need to go. The analysis will assist us in knowing what we need to do to accomplish our short and long-term retirement goals by looking at our income, expenses, assets, liabilities, and inflation now and during retirement. 

Conducting the analysis helps estimate how much money we will need to set aside monthly, quarterly, or annually to reach our target goal for retirement. Additionally, we could project any possible shortfalls. The capital retirement needs analysis can be considered a roadmap “these retirement needs calculations are not an end in themselves, but rather a means of moving a client to action” (Leimberg, 2017)

3. Discuss the significance and impact of employee benefit plans for retirement planning.

The significance and impact of an employee’s retirement benefit plan will help recruit new and highly talented personnel. In addition, a well-planned benefits plan will help the business with the retainment and eventual retirement of employees. Retirement planning also allows members to save a little at a time, benefiting them in the long run. Benefit plans also help reduce health care costs and tax benefits, allowing members to invest more into the retirement plan if they so choose.

It also helps personnel take a deeper look into their future, understanding their needs in retirement; many people are more concerned about today and not what is to come. We will all retire someday, whether by choice or forced retirement due to age or health.

References

Leimberg, S. R. (2017). The Tools & Techniques of Employee Benefit and Retirement Planning, 15th Edition. The National Underwriter Company. Accessed: 16 October 2022 https://eds-p-ebscohost-com.ezproxy.umgc.edu/eds/detail/detail?vid=1&sid=b65015e9-e04b-4271-bd35-78db2d4330ad%40redis&bdata=JnNpdGU9ZWRzLWxpdmUmc2NvcGU9c2l0ZQ%3d%3d#AN=1699460&db=e025xna

WorldatWork, & Dan Cafaro. (2020). The WorldatWork Handbook of Total Rewards: A Comprehensive Guide to Compensation, Benefits, HR & Employee Engagement. Wiley.  Accessed: 17 October 2022 https://eds-s-ebscohost-com.ezproxy.umgc.edu/eds/ebookviewer/ebook/bmxlYmtfXzI3MzQ3ODNfX0FO0?sid=bd4ec24f-ec8a-4ef6-a845-e43c494deb33@redis&vid=1&format=EB&lpid=lp_229&rid=0