Designed with your needs in mind, our health and benefit account solutions can help you offer a competitive benefit plan to your employees. As your needs continually evolve and grow, we’ll be with you every step of the way. You can lean on our experience to help educate and equip y...
A 401(k) plan allows the employees to defer some of their salary. Instead of receiving that amount in their paycheck, the employee defers, or delays, getting that money. In this case, their deferred money goes into a 401(k) plan sponsored by their employer. This deferred money generally ...
Intuitive, mobile-ready consumer enrollment portal, which is easily branded, to guide employees simply through every step of the enrollment process. Easy-to-use interface for configuring complex benefit plan designs without IT support. Sophisticated case set-up tools for quick implementation of plan...
One reason workers consider benefits to be valuable is because they often cover needs employees would otherwise have to pay for on their own. For example, employees can save money on health insurance or student loan payments if their company takes care of some of those costs as a benefit. ...
Much of the support can be done virtually, helping employees remain present and productive at work, while getting the help and support they need, at a time that works for them. Our white paper From the back room to the top shelf is a great resource for learning about how the EAP has ...
makes to their HSA directly (not through payroll deductions). In addition, HSA contributions may reduce state income taxes in certain states. Certain limits may apply to employees who are considered highly compensated key employees. Bank of America recommends you contact qualified tax or legal counse...
Banking activities may be performed by wholly owned banking affiliates of BofA Corp., including Bank of America, N.A., Member FDIC. Merrill provides products and services to various employers, their employees and other individuals. In connection with providing these products and services, and at ...
Staying connected to our retirees With each year that passes, thousands of employees retire from Bank of America to begin another chapter of life. Our retirees take the experience, skills, network and relationships gained during their tenure with them into retirement. And while the priorities and...
Leave encashment is a process of compensating employees for the leaves they have earned but have not availed of. It allows employees to receive monetary
Employees can withhold agreed amounts from their paychecks to fund their FSAs. If you are divorced, only the custodial parent may use a dependent care FSA. The most money in 2024 and 2025 that you can stash inside of a dependent care FSA is $5,000, or $2,500 if married and filing ...