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Asked 11/19/2010
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Is health and welfare benefits and 401k considered wages when working for a gov. contractor? The HR says they are not and there is no record of them The HR admin. says they are not since there is no record of them on check stub. You are required to take the health insurance or show proof of other insurance or they will put the legal amount of 3.50 per hr. in 401k for you or some of it in insurance if you can't show proof. When ask for the cost amount of the insurance so I could make an informed decision HR says they can verbally give me an amount but nothing in writing because they have no record of it because it is not considered wages. I am trying to understand because when I get the 401k money at retirement I have to pay income taxes on said money. I am not understanding. |
Answer 1/3 - Submitted 11/19/2010
They say if you use it then you should pay it back and taxes can be liened agianst it thenbe showed on your wage stub it should be showing up some where i have always seen it on a wage stub as how much has been deposited into it i'm not understanding why it wouldn't be on your pay stub thats a new on
Answer 2/3 - Submitted 11/19/2010
I ask the same question. HR says that it is health and welfare are not included in the hourly wage. So it is a fringe benefits and are required to be provided separate and therefore no record. Just the 3.50 per hour the Bureau of Labor Statistics states. What I don't understand is if I took the insurance and the left over was put into a 401K there should be a record of the monthly insurance cost. And if I opt out of the insurance and they put all of it into 401K I will have to pay income taxes on it when I receive it. So is it considered income wages?
Answer 3/3 - Submitted 11/21/2010
I would like to find a site that tells how the law works in regards to health and welfare benefits when working for a gov contractor. I found some info on the labor site but it didn't answer the question I have. The place in question is DBA BSA/LB&B Jv - Ft. McCoy WI. If you have any info on how this company works and info would be great.
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