Tip of the Week: Benefits Season (8/30/99)

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	Benefits Season Financial Tip of the Week by Deloitte & Touche OnLine August 30, 1999

Check out what your employer offers.

See our archive of previous tips on your money, your taxes and your financial plan.

It's the end of summer, it's back to school, and it's also time in most companies to re-enroll in many benefits plans, so take some time to review what your employer offers.

In particular, explore programs relevant to your own specific needs. Benefits extend far beyond the realm of health care, disability and retirement savings. Many employers offer a wide array of perks, such as adoption benefits and the chance to buy and sell vacation time. If you have specific needs, find out if your employer can help you address them.

How diverse are such benefits? Employees interested in returning to school may find their employer offers a Section 127 education assistance plan for undergraduate work that provides up to $5,250 in pretax assistance, said Blaise Kah, a senior tax manager in Deloitte & Touche’s Employee Benefits Tax Group. Commuters, particularly those at larger companies, may find their employers let them contribute pre-tax dollars to parking and mass transit accounts. Such accounts enable drivers to contribute up to $175 per month to cover the cost of parking or $65 per month toward mass transit expenses.