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Course Project Jc Week 4

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Benefits Plan
Jaliesa Clay
Benefits HRM 599
Dr. Bashker Biswas
Sept 23,2017

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Benefits Plan
Introduction
An effective employee benefits plan is key determinant for attainment of a unique
competitive advantage in any industry. A tax complaint employee benefits plan refers to a
retirement plan of an organization that an employer sponsors in whom employee retirement
benefits are evaluated using a special and mutually agreed work formula (Joachim et al. 2017). It
is of cardinal impact to appreciate the fact that there are various factors such as length of
employment and salary history being considered in the process of implementing employee
benefits plan. An employer has the sole mandate of ensuring that benefits plan is executed in the
right manner though organizational employees may chip in their contributions to ensure that they
get awesome package at the end of their retirement period. This paper is addressing a range of
issues that are related to employee benefits plan within General Motors Company.
Statement of the Issue
General Motors is a multinational American company that is immersed in the business of
manufacturing, selling and distributing automobile machines on the entire globe (Joachim et al.
2017). The Company has managed to attain a competitive edge due to its ability to develop
employee appealing benefits plan. This section is addressing key issues (components) of General
Motors employee benefits plan. GM retirement plan is unfunded, nonqualified deferred
compensation plan. The plan is structured in such a way as to qualify certain exceptions from
eligibility, funding and the requirements of Employee Retirement Income Security Act f 1974.
The plan is very flexible in the sense that it addresses special needs people within the
organization.

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Benefits Plan Jaliesa Clay Benefits HRM 599 Dr. Bashker Biswas Sept 23,2017 Benefits Plan Introduction An effective employee benefits plan is key determinant for attainment of a unique competitive advantage in any industry. A tax complaint employee benefits plan refers to a retirement plan of an organization that an employer sponsors in whom employee retirement benefits are evaluated using a special and mutually agreed work formula (Joachim et al. 2017). It is of cardinal impact to appreciate the fact that there are various factors such as length of employment and salary history being considered in the process of implementing employee benefits plan. An employer has the sole mandate of ensuring that benefits plan is executed in the right manner though organizational employees may chip in their contributions to ensure that they get awesome package at the end of their retirement period. This paper is addressing a range of issues that are related to employee benefits plan within General Motors Company. Statement of the Issue General Motors is a multinational American company that is immersed in the business of manufacturing, selling and distributing automobile machines on the entire globe (Joachim et al. 2017). The Company has managed to attain a competitive edge due to its ability to develop employee appealing benefits plan. This section is addressing key issues (components) of General Motors employee benefits plan. GM retirement plan is unfunded, nonqualified deferred compens ...
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