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Some fringe benefits (for example, accident and health plans, and group-term life insurance coverage up to $50,000) may be excluded from the employee's gross income and, therefore, are not subject to federal income tax in the United States. Some function as tax shelters (for example, flexible spending, 401(k), or 403(b) accounts).
Occupational welfare is welfare distributed by industry as part of employment. [1] First characterized by British social researcher and teacher Richard Titmuss in 1956, [ 2 ] occupational welfare includes perks, salary-related benefits, measures intended to improve the efficiency of the workforce and some philanthropic measures.
The study found that there was a reduction in costs associated with employee health care and absenteeism after the workplace welfare program was implemented. [70] In one large study of 1,542 participants across 119 workplaces, 57.7% of participants showed significant reductions in 7 of the 10 cardiovascular health risk categories studied. [ 71 ]
Examples of companies that have practiced welfare capitalism include Kodak, Sears, IBM and Facebook with the main elements of the employment system in these companies including permanent employment, internal labor markets, extensive security and fringe benefits, and sophisticated communications and employee involvement.
Corporate welfare policy and the welfare state: Bank deregulation and the savings and loan bailout (Aldine de Gruyter, NY, 1997). Whitfield, Dexter. Public services or corporate welfare: Rethinking the nation state in the global economy (Pluto Press, Sterling, Va., 2001.) Folsom Jr, Burton W. The Myth of the Robber Barons (Young America)
Employer-sponsored health insurance is an example of this. American social programs vary in eligibility with some, such as public education, available to all while others, such as housing subsidies, are available only to a subsegment of the population. Programs are provided by various organizations on a federal, state, local, and private level.
Workfare is a governmental plan under which welfare recipients are required to accept public-service jobs or to participate in job training. [1] Many countries around the world have adopted workfare (sometimes implemented as "work-first" policies) to reduce poverty among able-bodied adults; however, their approaches to execution vary. [2]
Animal welfare, the quality of life or well-being of animals; Corporate welfare, term describing the bestowal of benefits upon corporations by government; Welfare fraud, intentional misuse of welfare programs by providing false information; Welfare queen, a pejorative term for a person accused of collecting excess welfare payments