Group legal plans: a low-cost, high-value employee benefit

Article Abstract:

Group legal plans or prepaid legal services began in the early 1900s. These plans evolved from businessmen's search for new benefits under collectively bargained and cafeteria-style packages. At present, 2.6 million American employees and their families have group plans. High value, low cost and ease of administration have made these services widely sought. The plans are either funded by employers under collective bargaining agreements or employee funded when employees select them as part of benefits compensation. The plan sponsor, funding and objectives determine the services given under the plan.

Analysis, Legal services, Prepaid legal services, Cafeteria benefit plans

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A realistic look at financial planning programs: what you get may not be what you need

Article Abstract:

Financial planning needs to be augmented with the services of a financial adviser to explore investment options to help maximize employee benefits. A common pitfall of benefits managers in planning employee benefit programs is their inability to coordinate such plans with the employer's 401(K) investment options selection process, which results in poor coverage for employees' needs.

Employee Benefits & Services, Management, Financial planning, Human resource management, Defined contribution plans

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