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Employee Benefits FAQ File

NOTE:At the client's request, all identifying information has been removed from the following sample. To avoid confusion, all links contained within the original document (including the bulleted list that begins the document) have been removed as well.

<Name> Fund FAQ

  • What is the <name> Emergency fund?
  • Who is eligible to receive money from the fund?
  • How do I contribute to the fund?
  • How do I apply for financial help from the fund?
  • Who makes the decision as to whether or not applicants receive funds and how much?
  • How long does it take to receive funds if the committee approves an applicant?
  • If an employee suffered a financial hardship due to divorce, a bad relationship, a spouse who has lost their job, or other similar circumstances, does this qualify for consideration for a grant from the fund?
  • If an applicant's situation qualifies, yet they have other resources to draw from (such as savings, family, or insurance), can they still receive a grant from the fund?
  • Does the fund offer loans to assist people?
  • What are some examples of stories or situations that have been granted assistance?


Q: What is the <Name> Emergency Assistance Fund?
A:
The fund is a nonprofit organization, supported by <company> employees who donate money, that offers a helping hand to <company> employees in financial emergencies caused by unforeseen, catastrophic situations. The fund was started in honor of <Name>, a highly regarded District Manager, who died unexpectedly leaving his wife and three young children in a desperate financial situation.
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Q: Who is eligible to receive money from the fund?
A:
Employees and/or their immediate family who are going through temporary financial distress due to tragedies or unexpected circumstances are eligible to receive money from the fund. Some circumstances include:
· a catastrophic illness or injury (leaving them unable to work)
· a civil disaster (a riot, war, etc.)
· a sudden and severe personal or family crisis (such as physical abuse or criminal violence)
· the loss of a home or other property due to fire or natural disaster, or similar unusual circumstances
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Q: How do I contribute to the fund?
A:
There are two options for contribution:
· Use the Wage Withholding Form, which allows the payroll department to deduct an amount you choose from your paycheck on a weekly basis.
· Give a one-time donation by writing a check to the <Name> Emergency Assistance fund and attaching it to the Donation Form.
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Q: How do I apply for financial help from the fund?
A:
Call the fund administrator, <name> at <phone#>, extension xx. She will walk you through the process.
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Q: Who makes the decision as to whether or not applicants receive funds and how much?
A:
There is a Selection Committee from <corporate> that have been carefully chosen to best represent all employees. Strictly following the Giving Guidelines established in the fund's by-laws, the committee makes their decision solely on the facts of the situation at hand. They do not know the applicant's name, company history, or position.
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Q: How long does it take to receive funds if the Committee approves the applicant?
A:
Depending on the seriousness of the situation, usually between two to three days after the application has been received. The committee can meet and decide on the same day if absolutely necessary.
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Q: If an employee suffers a financial hardship due to divorce, a bad relationship, a spouse who has lost their job, or other similar circumstances, does this qualify for consideration for a grant from the fund?
A:
No. The events that lead to the financial hardship must be the result of an unexpected, catastrophic situation as mentioned in the Giving Guidelines.
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Q: If an applicant's situation qualifies, yet they have other resources to draw from (such as savings, family, or insurance), can they still receive a grant from the fund?
A:
No. The fund was established to help those qualified applicants that have no other options but to turn to the fund. The applicant must have exhausted all other options before they apply to receive assistance from the fund.
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Q: Does the fund offer loans to assist people?
A:
No. All monies that are granted are awarded by the Selection Committee due to the need of the applicant and are a tax-free gift. If the applicant chooses to contribute money back to the fund after establishing themselves again, they can make a voluntary contribution.
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Q: What are some actual situations that led to employees being granted assistance through the fund?
A:
In most issues of the <company> newsletter there are "thank you" stories written by those that have been assisted through the fund. Below are a few situations that led to employees being granted financial assistance from the fund:
· Health tragedies, such as a heart attack, stroke, brain tumor and other life threatening diseases
· Natural disasters like tornado and flood
· Devastation of fire
· Domestic abuse to employee and/or children
· Family assistance to deceased employee or family member
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