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Life Insurance: What you need to know

Group term life insurance is a popular benefit because the cost is relatively low and employees typically value the coverage highly, giving employers a big “bang for the buck.” Offering group term coverage provides basic financial security for employees and their families and helps to attract and retain the best employees.
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Because group term life insurance is inexpensive and highly valued by employees, employers frequently pick up the full cost. In addition, the cost of the first $50,000 of group term insurance coverage may be provided tax-free to the employee.
The most common practice among employers is to provide employer-paid group term life insurance in an amount equal to a percentage of each employee's annual pay. There are numerous variations on this basic design, including:
• Higher benefits, such as 11/2, 2, or 3 times annual salary
• Flat-sum benefits in various multiples, such as $10,000, $25,000, $50,000, etc.
• Requiring employees to pay a portion of the premiums
• Allowing employees to purchase supplemental coverage at group rates
• Employer-paid, employee-paid, or shared payments for spouse and dependent coverage
• Additional group universal life insurance coverage giving employees additional portable insurance coverage and the ability to accumulate cash
Term insurance is the least expensive form of life insurance. A term policy covers only the “term”--usually a year--in which premiums have been paid, and it has no cash value, paying only in the event of the death of the insured. A term policy at group rates is less expensive per person than individual term policies would be for the same group of people, and a term policy is considerably less expensive than a “whole” ...

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We’ve compiled a list of the 100 most commonly asked questions we have received on the federal Fair Labor Standards Act (FLSA) overtime regulations.
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This report, "Top 100 FLSA Q&As", is designed to provide you with an examination of the federal FLSA overtime regulations in Q&A format, including valuable tips for bringing your workplace into compliance in an affordable manner.

At the end of the report, you will find a list of state resources on wage and hour issues. This report includes practical advice on topics such as:
  • FLSA Coverage: How FLSA regulations apply to all employers and any specific exemptions from the overtime requirements
  • Salary Level: Qualifying for exemptions and nonexempt employees
  • Deductions from Pay: Deducting for violations, disciplinary reasons, sick leave, or personal leave


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