Two recent proposals incorporating these conditions call for the creation of "individual security accounts" analogous to US Social Security accounts, but encompassing portable benefits
that would be available to all workers, regardless of employment status, and would accrue via pro-rated automatic payroll contributions.
Unlike traditional trade unions, which are limited by law to employees of workplace-based organizations, Freelancers Union delivers flexible and portable benefits
to an increasingly mobile and decentralized workforce adjusting to the changing contours of the U.
Multiemployer plans provide portable benefits
to workers who change employers, distribute risk among participating employers and participants, and continue to operate long after an individual employer, or sponsor, goes out of business, because their framework makes remaining employers jointly liable for funding benefits for all vested participants.
When you combine a desire for heightened financial security with high unemployment, the result is heightened interest on the part of employees for access to portable benefits
The following are some common practices and product designs of portable benefits
, as well as some easily overlooked underwriting risks.
When a multinational manager is transferred from one country to another, that person's health insurance and other benefits should follow along," says Hancock, "For Latin American companies--including family-owned enterprises-- being able to offer portable benefits
is an important aspect of attracting and keeping skilled managers.
Whenever Nick wants to sit down and negotiate a contract with wage minimums, overtime and portable benefits
, we're ready and willing.
Noting the power in numbers when people group together, she poses the question, What better vehicle for portable benefits
than a professional organization?
Heckscher noted a number of steps taken by dynamic companies, including: clarifying the company mission and organizing around it, encouraging the development of general skills and business knowledge, developing flexible approaches to personal needs of employees, establishing a regular dialogue around career prospects and offering portable benefits
Important, though rather commonplace, objectives guided both groups: The company wanted to accommodate different career patterns and the need for staffing flexibility, provide competitive benefits, be easy to understand and communicate, provide portable benefits
(like Nabisco's plan), provide benefits after retirement that are related to pay just before retirement (like Tobacco's plan), comply with complex IRS requirements and be cost neutral.
Through the Portable Benefits
Network, Freelancers Union has successfully provided benefits attached to the individual, rather than the employer, to thousands of previously uninsured workers, for the past eight years," said Sara Horowitz, executive director of Freelancers Union.
Others, however, might opt for hybrids, given the combination of reduced volatility for employers and secure, portable benefits