How Leave-Sharing and Flexible Benefits Can Help Employers and Employees Navigate COVID-19 Disruptions
While the ultimate impact of COVID-19 is still unknown, many individuals are relying on the flexibility of their employers more than ever. Companies are increasingly using leave-sharing banks to help employees navigate disruptions and strengthen culture and community, especially during natural disasters or national emergencies like COVID-19.
Because the coronavirus (COVID-19) outbreak has been declared a national emergency, there are special considerations for PTO leave sharing/donation plans.
The IRS has issued specific guidance for PTO leave sharing and donation plans. These are plans that are coordinated by employers and permit employees to donate PTO/unused vacation and/or leave to an employer-sponsored "pool" for use by other employees.
Spooling up a leave-sharing/PTO bank manually can be a real challenge to administer, especially with thousands of employees.
In this webinar, you will learn:
- The benefits of leave-sharing plans to employees and employers
- How to avoid common pitfalls
- Different types of leave-sharing plans
- Tax implications
- 5 things employers need to determine before setting up a leave-sharing plan