You work in the human resources department of your company ing new employees fill out the necessary paperwork to get

You work in the human resources department of your company ing new employees fill out the necessary paperwork to get their first paycheck. There are a number of decisions that employees must make when they complete this paperwork, including (1) which health insurance package to buy (this impacts how much money will be deducted each pay period to pay for the premium), (2) how much money to put in a flexible spending account annually to cover medical and childcare expenses, and (3) the percentage of their regular paychecks to invest in the company’s 401k retirement savings plan. The expenses paid for these three items are not subject to Federal or State income taxes.

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