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GLOSSARY / Voluntary Benefits

Voluntary Benefits

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Voluntary benefits are provided for by the employee rather than by the boss, though the employer is responsible for the scheme’s administration. For the sake of convenience, the money is always withheld from the employee’s paycheck, but not always. A third-party insurance manager is often the source of voluntary benefits. Employers should provide a wider range of incentives to their workers without incurring the costs associated with compensated benefits.

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