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SOP Employee Retirement (Examples & Templates)
1. Policy of Employee Retirement
2. Procedures of Employee Retirement
3. Flowchart of SOP Employee Retirement
4. Retirement Notification Form
5. Pension Fund Transfer Request Form
6. Retirement Decree
The purpose of this procedure is to explain the process of employee retirement; procedures are followed to ensure that employees' retirement rights are properly implemented.
The employee retirement process is carried out properly and in accordance with company regulations regarding employee retirement and rights.
One of the best tactics for attracting and retaining good employees is to offer competitive benefits, and one of the most popular benefits today are retirement plans. Not only that, many states today are now mandating that businesses offer them.
The good news is that offering a retirement plan – if you don't already – has many advantages as an employer, and there a variety of offerings to choose from, each of which are designed to meet unique savings goals, company sizes, and monthly budgets.
In order to select the right plan for your employees, and for your organization as a whole, it's important to know about various types of employer-sponsored and non-employer-sponsored plans, and how each of these plans differ. Employers have a variety of retirement plan offerings across several categories, including defined benefit plans, defined contribution plans, traditional retirement plans, and non-traditional retirement plans. Each of these plans are designed to meet unique savings goals, company sizes, and monthly budgets.
Although employers below a certain size and in certain states are not required to offer their employees a retirement plan option, many employers choose to offer these plans as an employee recruiting and retention tool. Employer-sponsored plans can be offered to employees at little to no cost to the employee while offering important tax incentives to employers, making them an attractive addition to any employee benefits program. To make plans even more attractive to employees, employers may offer matching contributions, though this is not required. Employer-sponsored plans can include 401(k) plans, SIMPLE IRAs, SEP plans, profit-sharing plans, employee stock ownership plans, 457 plans, cash-balance plans, and non-qualified deferred compensation plans.
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Source: Best Practices in Human Resources Word: SOP Employee Retirement (Examples & Templates) Word (DOCX) Document, UJ Consulting
ABOUT THE AUTHOR: UJ CONSULTING
Untung Juanto ST., MM. Founder of UJ Consulting. He is professionally experienced business and management consultant in several local and multinational companies. [read more] He has an experience in managing an effective and efficient company with various approach methods adapted to different industries because He had a career from the lower management level as Supervisor before finally being at the top management level. His Top Management experience started from the position of General Manager, VP Operation, HR Director and Business Development Director
He completed his undergraduate education majoring in Architecture at Diponegoro University, Semarang, Central Java, Indonesia. After that, He continued to Master of Management level majoring in Human Resource Management with cum laude predicate with a GPA of 3.94 at Mercubuana University, Jakarta, Indonesia.
His last work experience as Deputy President Director at Hutahaean Group in charge of 14 business units engaged in various industries including CPO Production, Oil Palm Plantation, Cassava Plantation, Tapioca flour production, 4 and 5 star hotels, waterparks, golf courses and housing with a total of employees more than 3,000 employees.
His biggest achievement was in 2021 when He served as Deputy President Director at Hutahaean Group Indonesia by increasing the company's revenue from IDR 700 billion to IDR 1.1 trillion (y/y) and increasing the profit margin by more than 20%. Doing a turn around on business units that have lost in the last 5 years become profits. In addition, He have also succeeded in creating an efficient and effective management system by redesigning the Business Process Management (BPM), reviewing Standard Operating Procedures (SOP) and Work Instructions and compiling the appropriate Key Performance Indicator Management (KPIM) to increase employee productivity.
He is currently active as a part-time business and management consultant (online) at Enquire Corp. and Flevy Corp. In addition, He also teach part-time at several universities for courses in strategic management, human resource management, project management, entrepreneurship and business.
UJ Consulting has published 167 additional documents on Flevy.
This business document is categorized under the function(s): Organization, Change, & HR
It applies to All Industries
File Size: 715.5 KB
Number of Pages: 6
Related Topic(s): Human Resources
Purchase includes lifetime product updates. After your purchase, you will receive an email to download this document.
Initial upload date (first version): Dec 5, 2022
Most recent version published: Dec 5, 2022
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