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ERIC Number: EJ1000265
Record Type: Journal
Publication Date: 2012-Sep
Pages: 3
Abstractor: ERIC
Reference Count: 0
ISBN: N/A
ISSN: ISSN-0036-651X
Five Smart Ways Educators Can Save Money on Benefit Costs
McCullough, Pat
School Business Affairs, v78 n8 p18-20 Sep 2012
State and local governments today face significant financial stress from the most recent recession, which makes their need to control benefit costs even greater. Revenues declined 22% from 2008 to 2009, mostly because of reduced tax income. At the same time, state and local government spending on unemployment compensation jumped 86%. It is no wonder education institutions are looking at all means possible to save money on benefit costs. The good news is that many effective cost-containment strategies are readily available, are proven to work, and can be implemented at no direct cost to the employer. This article offers five smart ways on how educators can save money on their benefit costs: (1) Implement wellness initiatives; (2) Move noncore benefits to employee-paid voluntary benefits; (3) Conduct a dependent verification audit; (4) Increase employee participation in pretax benefit programs; and (5) "Right source" benefits communication and enrollment. A list of references and resources is included.
Association of School Business Officials International (ASBO). 11401 North Shore Drive, Reston, VA 20190. Tel: 866-682-2729; Fax: 703-478-0205; e-mail: asboreq@asbointl.org; Web site: http://www.asbointl.org
Publication Type: Journal Articles; Reports - Descriptive
Education Level: Elementary Secondary Education
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A