Question

Tuition reimbursement is a huge added benefit for employees to receive. My current company offers tuition...

Tuition reimbursement is a huge added benefit for employees to receive. My current company offers tuition reimbursement however there are some requirements that one must meet in order to receive reimbursement. Unfortunately for me one of those requirements is you must be at the company for one full year in order to receive tuition reimbursement. I started with the company in March, so I missed a full year of reimbursement. We also must pay for the class up front and then submit our grade which must be a C or better.

There are also some conflicts that come along with tuition reimbursement. For my company they have you sign a contract that states you will stay with the company for a specific amount of time after the completion of your degree. If you decide to leave before that time has expired, they will make you pay them back for the tuition. Other conflicts that employees face is the IRS limits the amount of tuition that employers can reimburse tax-free each year. In 2018 the limit was 5,250, anything over that amount employees would have to pay taxes on that amount. Other conflicts would include issues with financial aid. If a student is using financial aid on top of their tuition reimbursement typically students would receive a lower amount of aid than if they did not have tuition reimbursement.

please respond in 100-150 words

Business   Economics   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Tuition reimbursement is a contractual beneficial agreement that took place between employer and employee. It is the Final outlay which terms that the employee is capable to have or get some or all of the tuition expenses paid for the course.

This is clearly a funding source to working professionals like you who want to pursue their career to new heights.

As far as your company is concerned , Companies usually spend 5000 to 6999 per employee and your company ranges in between is quite right but paying less than that is not good.

Also, note that none of the tuition reimbursements programs cover the entire cost of a degree and is limited to specific list of accredited institutions.

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
The importance of tuition reimbursement as an employee benefit can’t be ignored. In a recent State...
The importance of tuition reimbursement as an employee benefit can’t be ignored. In a recent State of the American Workplace survey report, Gallup found that 45% of Millennials say they would change their jobs for tuition reimbursement benefits, and 65% of HR decision-makers say that failing to attract and/or retain Millennial or Gen Z employees could have a negative impact on the business. You are the HR manager for a medium-sized company that wants to implement such a program, and...
Company XYZ will pay a death benefit of $1000 to each of its 5000 employees who...
Company XYZ will pay a death benefit of $1000 to each of its 5000 employees who die in the upcoming year. There is 3% chance that an employee will die in the upcoming year. Determine the amount of funds that Company XYZ needs to have if the company wants to have a 95% probability of having sufficient money to pay the benefits. (You may ignore the continuity correction.)
Subject: Human Resource Management Main question: Which benefit plans would you choose, and which wouldn't you...
Subject: Human Resource Management Main question: Which benefit plans would you choose, and which wouldn't you choose and give reasons why you would or would not want a benefit that were used in making the benefit selections (specially at at entry level making $30000). PROCEDURES: Assume that you recently graduated from college and are just starting a new job at a large firm. You will be receiving a starting net pay (net of all taxes and mandatory deductions) of $30,000....
You receive two job offers in the same big city. The first job is close to...
You receive two job offers in the same big city. The first job is close to your​ parents' house, and they have offered to let you live at home for a year so you​ won't have to incur expenses for​ housing, food, or cable and Internet. This job pays $45,000 per year. The second job is far away from your​ parents' house, so​ you'll have to rent an apartment with parking ​($12,500 per​ year), buy your own food ​($2,250 per​...
Traditionally, union contracts have called for pay and promotion systems that reward employees with higher pay...
Traditionally, union contracts have called for pay and promotion systems that reward employees with higher pay and advancement as they achieve greater seniority; that is, more years on the job. In a company with a unionized work-force, employees with comparable amounts of experience would have comparable earnings. Employees with greater seniority would be promoted if they met the minimum requirements of the job opportunity Some people question whether tying pay and advancement to seniority is effective or even fair. For...
Hi, I am forecasting balance sheet for one company. My tasks is find out if they...
Hi, I am forecasting balance sheet for one company. My tasks is find out if they can balance. If they don't, I have to find out what I can do to balance. For example, if there are more asset than liability, the company can pay dividends. This is the question: At this point, your forecast for the balance sheet will not balance. We now need to make financial policy decisions to balance based on how you have forecast the business...
Students Learn the Hard Way News Story In most states, tuition is going up in four-year...
Students Learn the Hard Way News Story In most states, tuition is going up in four-year public universities. Most are in the single digits, but some are huge - freshmen at Texas A&M will pay 26 percent more, University of Kansas students 21 percent, and University of South Carolina students 17 percent. The culprit is reduced state funding. The weaker economy has decreased tax revenues, and so states have cut spending to balance their budgets. Higher education is easier to...
Managing Employee Benefits: Cutting Benefits at Generals Construction As Generals Construction moves into its tenth year,...
Managing Employee Benefits: Cutting Benefits at Generals Construction As Generals Construction moves into its tenth year, the company’s future is promising. The company has continued to grow and profit, but the CEO has asked company leaders to examine expenses to ensure that the company is financially stable going forward. As the Director of Human Resources, Jane Smith is examining opportunities to cut employeerelated expenses while maintaining employee satisfaction and morale. However, Director of Finance Ann Lane is pushing some cost-cutting...
Case: Zillionaire On January 1, 2019, Zillionaire (the Company) issued to certain employees 1,000,000 equity-settled stock...
Case: Zillionaire On January 1, 2019, Zillionaire (the Company) issued to certain employees 1,000,000 equity-settled stock option awards. The employees will vest in differing numbers of options depending on the cumulative amount of net income the Company earns over the four fiscal years1 following the date of grant, and their continued employment with the Company. The exercise price of the awards is $31.50, which was the Company’s closing share price on the NASDAQ National Market on the date of grant....
On January 1, 2006, Zillionaire (the Company) issued to certain employees 1,000,000 equity-settled stock option awards....
On January 1, 2006, Zillionaire (the Company) issued to certain employees 1,000,000 equity-settled stock option awards. The employees will vest in differing numbers of options depending on the cumulative amount of net income the Company earns over the four fiscal years1 following the date of grant, and their continued employment with the Company. The exercise price of the awards is $31.50, which was the Company’s closing share price on the NASDAQ National Market on the date of grant. The Company...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT