This is an example of a Real Value Statement. The data can be uploaded as often as you like. Numerous text areas throughout allow you to tailor your messages.

Employees access their personal statements through their Benergy portal or you can print them out for them.

Up to six types of cash compensation can be shown on a statement.

Up to 16 types of employee benefits and employer-paid programs can be shown. You may even show what employees pay for contrast. The application constructs graphics to enhance comprehension. The benefits pie chart, for instance, illustrates the top five benefits in terms of their proportion to the total benefits expense.

The statement can demonstrate the value of employer-sponsored programs that enable employees to save on taxes.

The real value of cash compensation, benefits and tax savings are summed to provide the grand total.

The statement can also convey the value of financial benefits, such as retirement and investment programs in this optional section.

For Benefits Administrators

The Real Value Statement will help HR managers and administrators:

For Employers

By accessing their statements through the Benergy portal, employees can:

For Benefits Administrators

The Real Value Statement will help HR managers and administrators:

Benergy™ Employee Portal

Benergy is a portal that gives employees access to a comprehensive total compensation statement. Within the Benergy portal, they can:

Benergy™ Control Center

The Real Value Statement is initiated in the Benergy Control Center. The statement is a “living” document that you use throughout the year to update the Real Value Statement with new information as it becomes available.

Security

Real Value Statements present highly personalized and confidential information about employees. For this reason, there is a single password to be used by those who have the rights to view and manipulate pay and benefits information. This may include the HR manager and the broker or consultant.

Implementation

Key aspects of implementing a Real Value Statement for employees include:

Setup: the online wizard manages the content and messages that will display to employees. Messaging can be tailored to different employee groups (i.e., user groups) if needed. Also, an employer can give the statement a name or brand that matches corporate objectives, rather than opting for the Real Value Statement branding.

Data Management: the implementer downloads a Data Manager Workbook to create or modify employee data. You decide which plans to show and how data will be displayed. The Data Manager is an Excel file with three worksheets:

The implementer will designate what programs to include in the statement.

The employee data will be loaded into a spreadsheet with fixed column headings.

A rough test statement helps in verifying that data was entered correctly.

The Real Value Statement accommodates the following:

Preview: The Preview feature allows you to view the Real Value Statements of one or all employees, in PDF format, before they are released to employees.

Publish: This pushes the statements live in the portal and enables them to be printed.

Print: In addition to online publishing, the application lets you easily print the Real Value Statements for several or all employees. Statements can be 3 to 4 pages in length. In addition, a cover letter will automatically contain employee addresses, which can show through a standard catalog envelope. Return address and a customized company message can be included on this page.

Updates: After you have published and printed your initial statements, you can easily update them periodically to keep pace with changes in employee salaries, benefits and company policy.

For Employers

When employees have questions about their pay and benefits, your communications portal pulls their information together in one place and provides them with easy access to the personalized statement they need.

Distribution

The Real Value Statement produces a statement that can be distributed in two ways:

What’s Inside

The Real Value Statement is a personalized and date-stamped document that presents:

Cash Compensation: annualized pay and other pay types, both historical and forward-looking. The statement automatically creates a pie chart that graphically depicts the relative proportions of the compensation types.

Benefits: the “hidden paycheck” of your contributions to an employee’s benefits plans. Employee contributions can be shown here as well. The statement automatically creates a pie chart that graphically depicts the top five benefits in terms of employer spending.

Estimated Tax Savings: a calculation of the tax break the employee receives by participating in pre-tax programs sponsored by the employer – 401(k) plan, flexible spending account, HSAs and other insurance.

Real Value Calculation: the statement combines cash compensation, benefits and tax savings to show the real value of employment. Simple graphics help employees visualize how these components work together.

Retirement and Investments: financial programs that may not have been included in the statement, such as 401(k) balances, pension estimates, and stock plan accounts. In other words, the results can create a total wealth statement.

Employees can view the Real Value Statement online in the Benergy portal and can print it out for their records.

They may also receive printed copies if you so choose.