Employer Perks and Benefits First Day Onwards

When a newbie fresh out of college as well as someone who is in middle level, experienced level of career try to take up new career assignments particularly on full-time basis most often they dont choose to focus on benefits offered by their employers and start availing employer perks and benefits first day onwards. To start with look for following perks and benefits that is most common among many employers 1) 401K - This is the 401K match the pre-tax retirement option that many employees often overlook. As per IRS norms the current limit is 18000 per person. In case you and your spouse both work, each one of you can contribute $18000 and as such save $36000 in your AGI (Adjusted Gross Income). On an average in your federal, state, local taxes if any come around 10%, you end up saving $3600 in pre-tax just by choosing to contribute in 401K. Some employers interestingly match your contribution. Try to get pay-cheque to pay-cheque match to get maximum match. Some employers do true-up amount if any at the end of paycheque. Cehck with your employer and 401k plan provider to learn more on the plan. Interestingly if you would like to avail 401K loan you can do so provided the plan has an option 2) Medical and dental benefits - This starts with medical insurance, dental insurance, vision insurance that cna come in two major forms HSA, HRA. Insurance is a government mandate. While choosing HSA Vs HRA carefully analyse premium, your future medicla plan if any. Also, try to avail all the incentives that are offered free as part of these plans. On an average this will bring you $500 to $1000 per year. In case of HSA this cna be carried life-long even if you quit employer 3) Discount Programs - Often this is the most overlooked benefit. Look for discount on mobile carrier, common purchases to name a few. Some employers maintain website while others have details with HR. Check and save atleast $50 to $100 per year on discount programs from employers 4) Coupoun benefits - Some employers offer coupouns on seasonal basis. This cna even include tickets to them parks, resorts etc. Before your vacation check on these with HR 5) Transit passes - Some employers offer transit passes at subsidized rates 6) Free Parking - In crowded cities parking is an issue. Check with your employers on parking passes, discounts on parking etc To put it simple read employee handbook completely as soon as you join your employer to get full benefits