Employment Resources

When you change jobs, your benefits also change. It will take time for you to adjust to your new benefits, but the transition will be smoother and financially beneficial when you prepare.
Health Insurance
Before you leave your current job, visit the doctor. Get a physical, refill prescriptions and address any health concerns. Consider visiting the dentist and eye doctor, too, while those insurance benefits are in effect.

You’ll also want to use your flexible spending account funds. Stock up on vitamins, buy a new pair of glasses or pre-pay the babysitter with those funds.

Expect to wait up to 90 days before your new health insurance goes into effect. While you’re waiting, purchase Cobra insurance from your former employer or buy short-term health insurance. When you do become eligible for a new health insurance policy, choose one that meets your health needs and budget.

Life Insurance
When you leave your current job, your employer-sponsored life insurance policy is cancelled. Start researching options now. Ask your Human Resources manager if you can transfer the policy in your name or talk to your insurance agent about buying a policy in your name only.

Retirement Benefits
Your current 401(k) will remain open even after you leave your job and no longer contribute to it. Plan to roll that 401(k) into a new account as soon as you’re eligible for retirement benefits at your new job. For help with the rollover, talk to your Human Resources manager or financial advisor.

If you have a 401(k) loan, be prepared to repay the full amount. You’ll owe taxes on any unpaid amount.

Also, plan to continue making contributions to your retirement account. Open an IRA and continue the habit of saving for your future.

After you are eligible for a new account, contribute regularly. Be sure your contributions match the amount of money your employer is willing to match.

Salary
A new job could mean more money or a pay cut. Start planning a new budget now. Adjust your expenses, refinance debt, increase savings or take other necessary steps that help you balance your budget as you transition to a new salary.

Time Off
Find out how much paid time off you still have at your current job. Because you’ll probably need to wait a few months before you accrue vacation time at your new job, use your current time for a vacation. If you prefer cash, find out if you can be paid for unused time off.
Moving to a new job means your benefits change. Take these steps to make the transition as smooth as possible and maximize your benefits package at your current and new job.

You saved money in your 401(k), and you want to use it. Your age, employment status and 401(k) account rules factor into how you can take money out of your 401(k) account, though. Know the rules so that you can avoid expensive penalties while accessing the funds you have saved.

When You Are Still Employed by the Sponsoring Company

As long as you’re still employed by the company that sponsored your 401(k), you can take the funds out for three different purposes. Remember that you will be charged interest, and you will have to repay the loan or withdrawal.

1. 401(k) loans allow you to borrow from your account balance to pay almost any expense. Usually, there’s a limit of $50,000 or half of your vested 401(k) balance.
2. 401(k) hardship withdrawals allow you to use money in your account for certain expenses. Buy a home or prevent eviction, pay medical expenses, cover higher education costs or relieve severe financial pressure.
3. 401(k) in-service distribution allows you to take a portion of your vested balance from your account. You must be over 50-1/2 years old and invest the funds into a qualified retirement account if you use this option to gain greater control over your saved funds.

When You’re No Longer Employed at the Sponsoring Company

After you leave the company that sponsored your 401(k), you may access your funds by contacting the plan administrator. The funds are no longer available for you to borrow, but you can withdraw the money and spend, save or roll it into a new retirement account.

1. A regular withdraw applies if you are over the age of 59-1/2 years. You will pay income tax on the money you withdraw, but there are no penalties. Use the distributions for living expenses or save them for the future.
2. Early distributions apply to 401(k) funds you withdraw before you’re 59-1/2 years old. You will pay taxes on the money you withdraw and a 10 percent penalty.
3. Roll over your 401(k) into an IRA. You pay no taxes on the funds, and your money continues to accumulate interest.

When You Are the Beneficiary of a 401(k) Plan

As the beneficiary of a 401(k) plan, you may access the money under certain conditions. The distributions depend on the plan participant’s age and whether or not you’re the spouse of the 401(k) participant.

Your 401(k) is a tool that helps you save for retirement. While you can access the funds, be sure to understand any penalties and tax consequences first. For more information, talk to your 401(k) plan administrator or financial advisor.

Most employers offer maternity leave to new mothers. It gives moms up to 12 weeks to rest and bond with the new baby or adopted child. Maternity leave isn’t just for moms, though. Dads need leave, too, for several important reasons.

How Much Leave Do Dads Get?

According to the Family and Medical Leave Act (FMLA), Americans in eligible workplaces can receive 12 weeks of unpaid leave. That leave can be used after the birth of a new child, after adoption and in certain other situations. FMLA is a federal guideline, but states and even employees can provide more leave for their employees.

Nine out of 10 dads take time off from work after the birth or adoption of a new child, but 70 percent of men take 10 days or less off work. Unfortunately, paid leave is only available to 13 percent of employees in the U.S.

Why Dads Need Paternity Leave

The stereotype of men working outside of the home and women doing all the housework and childcare is becoming outdated. More and more men want to take part in care giving. Companies that offer paternal leave give men the chance to take care of their families. Equal-gender leave policies also reinforce the view that men are as capable and responsible as women for the children and home life.

Why Moms Need Paternity Leave

Women make 74 cents for every dollar men earn. In addition to the wage gap, sometimes, mothers are prevented from taking certain positions or jobs because they have to care for children. When men take paternity leave, they become skilled at taking care of things at home and give women the freedom to take the jobs they want.

Why Businesses Need Paternity Leave

Men will stay with a job that allows them to have the life they want, which includes time with their families. Retaining quality employees is one reason why businesses need to offer paternity leave. It improves employee retention, loyalty, job satisfaction, happiness and productivity. Two popular companies with competitive paternity leave, large numbers of job applicants and high employee satisfaction include Netflix and Spotify, with unlimited paternity leave and six-month 100 percent paid paternity leave respectively.

How to Get Paternal Leave

If you company offers paternal leave, be grateful. If not, advocate for change. Lobby your state legislators to support a national paternal leave policy. You can also speak up at work about the need for leave and share the benefits of paternal leave with your employee. Paternal leave is good for families and companies.

Anyone who reviews resumes knows that job applicants lie to get ahead. Hiring the wrong person can jeopardize your business’s success, employee productivity and bottom line, though. Because you only want to hire qualified candidates, learn how to tell if a job applicant is lying.

What do Job Applicant’s Lie About?

According to the Harvard Business Review, up to 81 percent of people lie during job interviews. The most common lies include:

• Education or degrees
• Professional training
• On-the- job experience
• Employment dates
• Job descriptions
• Former employers
• References
• Salary claims

How do Job Applicants Get Away With Lying?

Job applicants can lie and still be hired in part because hiring managers are unprepared. They make six key mistakes.

1. Rely on gut feelings. Intuition can sometimes be right, but gut feelings are not always accurate and can lead hiring managers to miss holes in a resume.
2. Judge based solely on first impressions. Impressions are made in the first few seconds of an initial meeting. Hiring managers who let those first impressions cloud the interview or their judgment may not dig for the truth.
3. Use mirroring. Hiring managers may look for job applicants who are like them. They then recommend those candidates instead of verifying facts and looking closely at qualifications.
4. Rely on a good interview. Experienced job applicants can nail a job interview and win over the hiring managers. They may not tell the truth, though.
5. Trust everyone. Trusting hiring managers may not even ask for references or check facts. They are too trusting.
6. They trust referrals and recommendations. If the job applicant comes with a referral or recommendation from someone the hiring manager trusts, the applicant may be fast-tracked into the job whether or not he or she is truly qualified.

How to Spot a Lying Job Applicant

Hiring managers can spot job applicants who are less than truthful. Here’s how.

• Review resumes, online job resumes and LinkedIn thoroughly. Look for inconsistencies like employment gaps or excessive jobs.
• Perform background checks. Applicants with a criminal record may not share that info, but you need to know the truth.
• Call references. Check in with every reference on a resume, and take notes. Compare the notes to the applicant’s resume and interview to determine if they’re telling the truth.
• Ask strong interview questions. The best interview questions get applicants to reveal their strengths and qualities. They don’t lead the applicant to say what you want him or her to say or put words in the applicant’s mouth.

Hiring the right people can help your company move forward into greater success. During the hiring process, be sure to weed out the lying applicants with these tips.

Prescription eyeglasses can cost as much as $1,000. In addition to the professional exam, other factors like which frames you choose, scratch-proof protection and UV coating on the lenses, where you buy glasses and the co-pay can affect the cost. Even with vision care benefits, you may be unable to afford glasses, and without them, your vision, health, work and social life can suffer. Afford the prescription eyeglasses you need with several tips.

Understand Your Vision Plan

Your vision plan includes details like how often you’re eligible for eye exams and new glasses and which eye doctors and eyeglass retailers are in your covered network. Read your vision plan coverage carefully so that you can take advantage of all your eligible benefits. You also save money when you visit an in-network provider.

Buy a Repair and Replacement Plan

When you buy your eyeglasses, ask if they offer a repair and replacement plan. It allows you to receive a new pair of glasses if you break, scratch or damage your pair, and it can save you money since you won’t have to replace your glasses.

Shop Around

Once you have a valid prescription, you can shop anywhere. Check out different eyeglass retailers to possibly find what you like for less.

Use Coupons

Many retail eye care businesses offer special deals to attract new customers. Check your local newspaper, online ad boards and retailers’ websites. Here, you can find coupons that cover exams, frames and eyeglass package deals.

Buy One Get One

Eyeglass retailers sometimes offer buy-one-get-one deals. Even though these deals may only cover discounted or low-end frames, they save you money.

Check out Back-to-School Sales

Every summer, many eyeglass retailers host a back-to-school sale. It allows students to stock up on new eyeglasses, and it’s available for adults, too. Use the sale to buy a new or second pair of glasses.

Look at Your Club Memberships

Certain auto clubs and other organizations like AARP partner with local businesses to offer discounts to members. Look at your membership booklet and benefits for discounts at eyeglass retailers.

Shop Online

Online stores typically charge less than brick and mortar stores, and they may also give you free shipping and other discounts. Be sure the online store is registered with the Better Business Bureau, and read the return policy since you can’t try on the glasses until they arrive in your mailbox.

Prioritize your eye health with regular eye exams and the correct prescription lenses. While your vision insurance benefits may cover your eye care needs, use these tips to save money as you take care of your eyes.

Since 1965, the United States Equal Employment Opportunity Commission (EEOC) has taken a leading role in preventing discrimination in the workplace. It is responsible for enforcing a number of federal laws for employment agencies, labor unions and companies with at least 15 employees and deals with practices related to hiring, firing, promoting, training, harassing and benefits. Whether you’re a current employee or looking for work, you should understand the EEOC’s role as you protect yourself from discrimination.

Title VII of the Civil Rights Act of 1964 (Title VII)

This law prevents an employer from using race, color, national origin, religion or sex to determine whether or not it hires, fires, promotes or trains applicants or current employees. It also requires employers to provide reasonable accommodations for religious practices.

The Pregnancy Discrimination Act

An amendment to Title VII, this law states that employers cannot discriminate against a woman because of her pregnancy, childbirth history or any medical condition that’s related to pregnancy or childbirth.

The Equal Pay Act of 1963 (EPA)

Because of this law, men and women must receive the same wages for equal work.

The Age Discrimination in Employment Act of 1967 (ADEA)

People who are over 40 may not be discriminated against simply because of their age.

Title I of the Americans with Disabilities Act of 1990 (ADA)

In addition to federal employers, the ADA law applies to private sector, local government and state employers. A qualified person with a disability may not be discriminated against, and employers must provide reasonable accommodations for known physical or mental limitations.

Sections 102 and 103 of the Civil Rights Act of 1991

This law amends Title VII and the ADA and allows anyone in an intentional discrimination case to receive a jury trial, compensatory and punitive damage awards.

Sections 501 and 505 of the Rehabilitation Act of 1973

Qualified applicants and employees of the federal government may not be discriminated against because of their disability. Employers must also make reasonable accommodations for known physical and mental limitations that will not cause hardship to the business.

The Genetic Information Nondiscrimination Act of 2008 (GINA)

Because of this law, employers cannot use genetic information against an applicant, an employee or an individual’s family members. Genetic information includes genetic tests, medical histories and information about any genetic disorder, condition or disease.

The EEOC enforces several laws that protect you from discrimination at work. In most cases, these laws also protect you from retaliation if you choose to complain about discrimination, file a discrimination charge or participate in a discrimination investigation or lawsuit. Know the laws as you protect yourself.

Over 90 percent of full-time employees receive paid vacation, according to the Bureau of Labor Statistics. If you’re one of them, you get paid to take time off work. Before you schedule a getaway, though, understand the details about this benefit.

When Can you Take a Paid Vacation Day?

Even though your paid vacation days are part of your benefits package, your employer can dictate when you take your time off. If you’re a new employee, you may have to wait a few months before you are eligible for your vacation days. You also may be unable to take vacation during busy seasons, when someone else in your department is away or on the spur of the moment.

Your employer can also restrict the number of vacation days you take at one time. You’ll also want to check your state’s laws regarding “use it or lose it” vacation policies. Because vacation is considered a form of compensation, you may be able to cash out your vacation time if you quit or are fired.

What Can You do on Your Paid Vacation?

You can use your paid vacation days for almost anything. Go to the beach, visit the doctor or watch TV. Be sure, though, that you request the time off in advance and fill out any required paperwork. Many employers require advance notice, and department heads often have to approve vacation time. If you don’t follow the guidelines and take the day off, you may not get paid.

How Many Vacation Days do you Get?

Typically, the number of vacation days you receive depend on how long you’ve been with the company. The average vacation time for new employees ranges from a few days to one week. Your vacation time may accrue based on your years or even days or hours you work.

Keep in mind that part-time employees usually do not receive paid vacation days. Also, you company can cap the number of paid vacation days you receive. For instance, you may receive one paid vacation day a year until you hit four weeks of vacation.

Can You Negotiate Paid Vacation Days?

If you wish you received more paid vacation time, consider negotiating for more. You can do in several circumstances:

• If you’re an executive level employee or a senior manager, ask for extra days as a compensation for your additional responsibilities.

• On a job interview, ask a potential employer for extra paid vacation based on your experience and skills.

• As a union member, your paid vacation days are part of standard contract negotiations.

Paid vacation is a benefit most employers offer. Discuss the details of your company’s vacation benefits with your Human Resources manager and then enjoy a day off with pay.

When you turn 62 years of age, you can start receiving Social Security benefits. Depending on your financial circumstances and retirement needs, however, you may wish to postpone receiving benefits until you’re older. The online Social Security calculator at ssa.gov factors in details like your cost of living, age at retirement, life expectancy and assets then tells you the best time to begin filing. Consider these other online calculators, too, as you maximize your Social Security benefits.

AARP’s Social Security Benefits Calculator

Figure out how your work earnings affect your Social Security benefits when you use this free calculator. It provides you with a summary of the recommended claiming strategy. Even though you won’t receive detailed information about planning your retirement, this calculator is convenient when you want an overview.

SSAnalyze! by Bedrock Capital

Access this free calculator and get a detailed list that outlines the steps you and your spouse, if applicable, need to take before you retire. It does require you to create an account and log in, but your information is not used to solicit or sell you anything.

Social Security Timing

While only financial advisors have access to the full calculator at Social Security Timing, you can access a free abbreviated version. It’s updated as soon as new Social Security laws are passed and includes excellent customer support. This site also matches you to a financial advisor if you want additional assistance.

Maximize My Social Security

One of the most comprehensive social security calculators, Maximize My Social Security was developed by an economics professor. Use it to decide when and how you will collect retiree, spousal survivor, parent, child and disability benefits and to calculate any government pension offset you may receive. This calculator does cost $40 per year per household, and you will need to enter information from your Social Security statement. However, it offers one of the most detailed reports available and can be a huge help as you prepare to retire.

Social Security Income Planner

With this calculator, you can compare pre-selected claiming strategies or customize the strategy based on your unique circumstances. The detailed report you receive offers a month-by-month or year-by-year comparison with tables so you can easily see the advantages and disadvantages of multiple claiming strategies. It costs $10 to $40 to use depending on whether you are single, married, divorced or widowed, and it is accessible via your iPhone.

When you retire, you want to maximize your Social Security benefits. One of these online calculators can assist you in choosing the best time to file. Talk to your Human Resources manager or financial advisor for more information as you prepare for a successful retirement.

You already know that you can file a Workers’ Compensation claim if you’re physically injured at work or suffer a work-related illness. However, you may also be able to file a Worker’s Comp claim if your job causes emotional or mental stress. Learn more as you strive to stay healthy on the job.

Can You Prove Your Case?

Break your leg on the job, and you and your co-workers can easily see the effects. Emotional and mental stress is not usually outwardly visible and thus more difficult to prove.

Of course, you may develop physical characteristics of stress, such as headaches, stomach pain, insomnia or chest pain. However, your job is probably not the only source of stress in your life. Plus, everyone handles stress differently. While a high-pressure office may cause anxiety for you, a co=worker may thrive in that environment.

To receive Workers’ Compensation for stress, you must prove that you have undergone more stress than normal on the job. Your state may also require you to receive treatment for your stress-related injury or illness, which includes a psychiatric diagnosis.

File a Workers” Compensation Claim

You may decide that your job is the cause of your stress-related illness or injury. If so, take these steps as you file a Workers’ Compensation claim.

1. Keep a journal. Write down as many details as possible since the burden of proof lies with you. Try to include the dates of the incidents, who was present, where you were, what was said and how it was handled.

1. Talk to someone about your experience and ask them to write notes. Whether you select a medical professional, your supervisor or a co-worker, that person can take notes and collaborate your version of events if your Workers’ Comp claim is contested.

1. File a formal complaint in writing if necessary. It documents the details of your experience, becomes part of your permanent employment file and may be used as evidence for future claims. Check with your company’s policy because you may have a time limit on when you can file a formal complaint or Worker’s Comp claim.

1. Be prepared to have your life examined. It’s difficult to prove that stress-related illnesses or injuries are 100 percent work related, so be prepared to have your entire life, including your academic, medical, family and employment histories, examined to prove that your job is indeed causing your stress.

A job that causes emotional or mental stress is dangerous to your health. You may be able to file a Workers’ Compensation claim, so talk to your Human Resources manager for more information as you stay healthy at work.

Retiring isn’t something you do at the spur of the moment. It requires careful planning as you ensure you have adequate resources to cover your expenses. Consider these nine tips that help you plan a successful retirement.

1. Build Your Emergency Fund

   Ideally, you should save three to six months of living expenses into an emergency fund before you retire. This money gives you peace of mind in case your income is delayed, you face a medical crisis or another emergency occurs.

1. Write an Income Timeline

   Pensions, social security and retirement accounts may all be accessed at different times. Write the details on an income timeline as you manage your cash flow.

1. Write a List of Expenses

   It’s easy to underestimate the amount of money you’ll need after you retire. Get accurate figures when you create a list of your expenses. Remember that some expenses change. For instance, your commuting expenses will disappear, but your home electric bill might increase.

1. Use a Social Security Benefits Calculator

   With a social security benefits calculator, you can figure out when you should start taking distributions. This tip allows you to maximize your income and reduce any tax penalties during your entire retirement.

1. Ask About Retirement Income Taxes

   Your retirement income will be taxed at varying rates. Take time to figure out the tax details to ensure you get an accurate view of your income. You don’t want to count on a certain amount and fall short because of your tax obligations.

1. Research Health Insurance

   Many retirees rely on Medicare, but it doesn’t kick in until you turn 65, and it only covers half of your medical expenses. That means you need to research other options and calculate them into your budget.

1. Create a Budget

   Once you know details about your retirement income and expenses, create a budget. It assists you in determining if you need more income or fewer expenses as you fund your entire retirement.

1. Make an Investment Plan

   Even though you’re retiring, you still need to manage the money in your 401(k) and other accounts. Learn about your options as you decide how much to invest, when to take distributions and other details of your investment strategy.

1. Interview Retirement Planners

   A professional retirement planner assists you in managing the details of your retirement. Look for one that will take time to understand your needs and shares your vision for your retirement.

Retirement is something to anticipate. For more details on how to plan your retirement, talk to your HR manager or financial advisor. Plan now to ensure your retirement is the best it can be.