Employers wanting to pay more to attract employees couldn't, so the stepped up the benefits offered to the employees. It was at this time that employee benefits started to grow and bring us to where we are today with all kinds of benefits. Over time there has been a large increase in the different types of benefits introduced into the workplace. With benefits initially introduced to attract potential employees, there have been some very good ideas and some very bad ones. To start out lets first list the benefits that are out there.
Most companies have some type of retirement plan set up.
There are two category types of pension plans. Under these different types there are four different types of plans. A spinoff of the pension plan is the 401k plan, which is named after the section in the Internal Revenue Code. This plan is becoming more popular since its introduction because it is tax deferred and it is taken out by payroll deductions. Since the 1992 Presidential election, health care has been on the hot seat for a lot of companies.