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What is the advantage of a qualified benefits plan quizlet?Qualified plans allow the employer a tax deduction for the contributions it make to the plan in each year. For employees, income taxes on all contributions, interest, and earnings are deferred until withdrawal, usually at retirement.
What is the importance of benefits as a part of employee compensation?A good benefits package can make employees feel rewarded and appreciated for their work. Benefits also provide support to an employee's family, health, and financial future which can help attract and retain top talent.
What are common benefits given as compensation?Employee benefits are any form of indirect compensation paid to employees over and above regular salaries or wages. This can include health insurance, retirement benefits, and paid time off, for example.
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What is an advantage of providing benefits instead of cash compensation quizlet?
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