Non-Retirement Benefits Paper Ã¯Â¿Â½ PAGE Ã¯Â¿Â½4Ã¯Â¿Â½
University of Phoenix
Many companies have done away with "sick leave' and "vacation" as employee benefits replaced them with Paid Time off (PTO). Most work benefits that falls in the Non-Retirement benefit category does not mean that it does not helps throughout the course of our entire work life. All have personal lives and priorities, and in the workforce, benefits are accommodated for all full-time eligible employees. Several types of Non-Retirement benefits flows in a benefit package for the eligible employee in which I will make mention of five in my report here.
Paid time Off (PTO) This Non-Retirement benefit provides the full time employee with days away from work. Employees' use this time for vacation and other reasons .PTO time is scheduled in advance most of the time within the company's department and must be approved by the company or department supervisor except if the employee has an emergency.
This does not roll over floating holidays or leave of absence. Concurrently PTO can be used with other types of leave. If all PTO hours are not been used then the company will pay for the unused hours up to the maximum accrual.
Sick Leave benefit is one Non-Retirement benefit not required by federal law. A Sick Leave compensates employees for a specified number of days absent due to personal illness. The amount of sick leave often based on length of service accumulates over a time. The company allows the employee to save them in case of disability because the company allows him or her to accumulate without any limit.
Personal Leave grants the employee paid time off for any reason necessary with the supervisor's approval. This is a few additional days to sick leave.
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