A company announcement said the new product aggregates cash compensation, benefits contributions and tax savings for each employee through the OnlineBenefits’ Benergy System.
Clients, or their brokers, can build statements through a combination of an online wizard and a Microsoft Excel workbook, the company said. Using a utility developed by OnlineBenefits, employers can format and print the statements for hard-copy distribution to one, some or all employees.
Another distinction of the Real Value Statement is the inclusion of estimated tax savings. In addition to pay and benefits contributions, the statement contains an optional feature that actually estimates employees’ tax savings from employer-sponsored programs such as 401(k) and cafeteria plans, the announcement said.
There is also a section of the Real Value Statement devoted to displaying balances for retirement and investment programs, such as 401(k) balances, pension estimates and company stock programs.
More information is at http://onlinebenefits.com .