Lifetime Benefits Solutions will support you in helping your employees reach their
financial and educational goals while increasing workplace engagement. Many
employers are faced with a post-pandemic retention issue. Experts are predicting
turnover, that would typically take two years, to come all at once. Now, more than ever, it's imperative to attract and retain employees.
was the average student loan debt
according to the Department of Education.
For employees, with tuition and student loan debt continuing to rise, benefits that address these concerns will continue to gain value with current and prospective employees. Offering Employee Education Programs is imperative in today’s competitive market.
LBS can help:
- take away the administrative burden from you, so that
you can focus on your core duties.
- measure the impact of your programs and demonstrate a true return.
- differentiate your benefit offerings.
Tuition Reimbursement Program
Providing an Employee Education Benefit helps employees pay for continuing their education. Tuition assistance allows for the flexibility of employees to continue their education. Tuition reimbursement benefits require that employees pay the cost of their tuition initially and the employer reimburses whole or part of the tuition. Once the employee completes their courses with an adequate GPA, the employer will reimburse them for a portion of the tuition cost.
- Ease your administrative burden by letting LBS manage your company’s program
- Customizable program that works with LBS’s suite of products
- The LBS360 team supports you at every step of the way
- User-friendly administrative platform for easy access to detailed analytics on
participation and outcomes so you can track program success
Tax-free for the employee
The CARES Act temporarily expanded educational assistance that employers may offer under an educational assistance program, tax-free, to include student loan reimbursement until January 1, 2026.
We do all the work, you take all the credit
Lifetime Benefit solutions offers administration and management of your Tuition Reimbursement Program. If you already have a program in place or are looking to implement one, we provide trusted, expert advice and administration to ease the burden and maintenance of employee education benefit options.