ON-LINE BENEFIT ADMINISTRATION  

Thornton and Associates and it's strategic partner, Benefit Software Inc. offer a new Web-based employee benefit and compensation communication service called Fringe Facts Online ®. This low-cost service includes a series of comprehensive benefits web pages that are personalized for each employee. These pages provide each employee with a detailed description of all their fringe benefits. In addition to seeing a description of their benefits, this new online service shows employees how much their benefits are worth. The employer does not need a company Intranet or employee benefits Website to offer this service to their employees.

The online benefit and compensation communication service provides employees with more up-to-date information than is available with traditional paper-based information. Employees may use online forms to enroll in one or more benefit plans. They may also look up medical providers, complete employee surveys, or read and print Summary Plan Descriptions, employee handbooks, policy manuals, and the latest company newsletter, just to name a few. Employees may perform “What-If” calculations to see what effect their participation in a company 401(k) or Cafeteria Plan would have on their after-tax take-home pay. Links to other Websites such as the Social Security Administration enable employees to request a copy of their Personal Earnings and Benefit Estimate Statement (PEBES) online.

Having all of these forms, documents, and reference materials available in one place offers the employees and their employers greater accuracy, convenience, efficiency, and cost savings. Employers will enjoy substantial savings in printing and distribution costs by making all of these forms and other information available online.

Employees may access their secure, password-protected benefits web pages over the Internet from home or at work any time they wish. If the employer has a company Website or Intranet, this service may be integrated into the existing site. Employees without access to the Internet, company Intranet, or a company provided benefit kiosk, may be given a paper version of their benefit statement.

Employers may update the benefit statements as often as they wish. For example, this can be done every pay period, once a quarter, or whenever there is an open enrollment. When updated frequently, online benefit statements more accurately reflect the current status of an employee's benefits. This allows an employee to see the impact of changes in compensation or benefits as they occur instead of waiting up to a year or more to see them.

A complete demonstration of Fringe Facts Online ® is available by going to:
http://www.fringefacts.com/demo.htm

From this site, you may view a sample benefit statement, calculate your after-tax take-home pay with or without a 401(k) or Cafeteria Plan, enroll in the 125 Plan, request a printed benefit summary of your Social Security earnings and projected Social Security retirement benefits from the Social Security Administration. You'll be able to complete an employee benefit survey, read retirement plan Summary Plan Description, locate a physician or hospital nearby and more.
For additional information, contact Thornton and Associates. 

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