Answer: Here is Part 2 of a series of 5 blog posts with check lists to jog your memory about financial and non-financial benefits. This check list will help you document your benefits that have a high value cash equivalency.
Part 2 – What benefits do you receive that have a high value cash equivalency?
- Vehicle related benefits—do you have a company car? Are you reimbursed for vehicle usage for company business, repairs, etc? Parking privileges? What would you estimate is the cash value of this benefit?
- Retirement Program: do you have a 401K program? What is your contribution? What does the company contribute? If you leave before a full benefit year, is the company contribution lost? What would that be? Do you have an alternate or an additional retirement program? What is the value? Would you lose that if you left before a certain date?
- Medical Plan—do you have a comprehensive program for you and your family? What is your contribution? Are there any pre-existing conditions covered by the plan that could be more costly to cover if you enroll in a new plan? What are your dental benefits? Vision? What are your monthly payments?
- Vacation and pay in lieu of vacation—how much annual vacation do you have? Is there a cash payout if you do not take vacation you have earned? How much vacation would you request as a minimum in a new job? Do you have any prepaid vacations arranged, so would you wish time off without pay for those days?
Interested in reviewing the checklist for cash earnings? Read Part 1 of this series – Part 1 – Compensation Check List: Earnings — Cash Compensation