Employer has always had premium deduction for extended benefits LTD, STD, Basic life, AD&D, health and dental 50% paid by employee and 50% by employer without factoring the taxable benefits portion of the LTD, STD, Basic life and AD&D. We are trying to be compliant and adjust the premium payments and the coding correctly. It most offer letters it says the benefits plan is paid 50/50 we will be moving to LTD, STD, Basic life, AD&D, 100% paid by employee and Heath and Dental will be 25% paid by employee and 75% paid by employer effective Jan 1 2020. Is this an issue and how much notice do we need to give the employees for this change?
below is a blurb on a person offer.
Benefits: After your Probation Period, you will be eligible for enrollment in the Company’s group benefit plan. At that time, you will be entitled to a 50% coverage of your premiums for extended health and a 50% coverage of your premiums for MSP. Additional details regarding the group benefit plan and the availability of family coverage will be reviewed with you during your Orientation Program. You will be entitled to three (3) paid sick days per year, which will be prorated on first year of employment.
The Company reserves the right, at its sole discretion, to unilaterally modify all plans, including, but not limited to, pay rate, commission and bonus plans, as deemed necessary to meet the operational needs of the Company