Compensation and Benefits of Comp

Topics: Flexible spending account, Employment compensation, Wells Fargo Pages: 5 (1391 words) Published: February 3, 2013
Having health and retirement benefits when working at a job are an essential aspect for most employees because they assess with their family and home life. I did my presentation for compensation and benefits on Wells Fargo Advisors, a company that is well known for its financial background. I also work for this company. I work in the IRA Rapid Rollover department as a Rapid Rollover Specialist. I assist Financial Advisors, Personal Bankers, and Financial Mangers with bringing over clients 401K plans and putting them into IRAs at Wells Fargo. I love what I do, especially when the clients are having problems with getting their funds rolled over. HISTORY

On March 18, 1852, Henry Wells and William G. Fargo founded and created Wells, Fargo & Company. The new company offered banking and express services to Gold Rush pioneers. Wells and Fargo saw opportunity, followed their dream and left a strong heritage. On July 13, 1852 they opened for business in San Francisco and Sacramento, California. Since 1852 tells the story of Wells Fargo and its rich heritage. It showcases the people, communities, and legacies that now are part of Wells Fargo’s story. The business they founded nearly 160 years ago has grown into one of America’s most respected and honored companies. Wells Fargo Has Been A Bank: Since 1852 to today - from buying gold to online banking. An Express Company: 1852 to 1918 - rapid delivery of gold, mail and valuables. A Stagecoach Company: From 1866 to 1869, though involved with operating stage lines since 1858. However, from 1852 to 1918 Wells Fargo used anything and everything to deliver customers’ business – stagecoaches, steamships, the Pony Express, and railroads. Like many other businesses, companies may employ key executives who are critical to your success. Retaining these important individuals can be challenging in today's competitive environment. That's why you should consider implementing an executive benefits plan in addition to executive compensation packages. There are many different types of executive benefits plans designed to help employees compensate executives and encourage them to remain with their companies for many years. First are the Healthcare benefits. They call them Benefit plan options. They are eligible for the employee, their spouse, and any of their dependent children. These benefits consist of the following: 0 Wells Fargo & Company Health Plan Health Reimbursement Account (HRA)-Based Medical Plan 0 Health Savings Account (HSA)-Based Medical Plan

1 Indemnity Medical Plan — Anthem — in certain locations 2 Kaiser HMO — in certain locations
3 Kaiser Added Choice — Hawaii — in Hawaii only
4 Delta Dental Standard
5 Delta Dental Enhanced
6 Vision Service Plan (VSP)

Next are types of leaves for employees. They include medical, military, volunteer, and worker’s compensation. Then there is retirement and investments. These benefits allow the employees to invest their 401K plans into different stock options which are also known as Employee Stock Ownership Plans (ESOP).

Types of Employee Retirement Plans
Regardless of the type of organization -- whether a corporation, partnership, S corporation, sole proprietorship or LLC -- a variety of employee retirement plan alternatives are available to you, including: * Defined benefit plan * Owner-only 401(k) * Profit sharing plan * SEP IRA * SIMPLE IRA * 401(k) (traditional or safe harbor) * Cash Balance plans| Back to top

Our Retirement Plan Services for Businesses
Based on the needs of your company and its employees, we can help you determine which employee retirement plans your business is eligible for as well as work with you and your professional tax and legal advisors to help you understand the advantages and disadvantages of your available choices. Our retirement plan services can also help you evaluate: * Plans that help meet your...
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