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If a program credits service primarily based on hours worked rather than elapsed time, then an employee should be credited with at least one particular year of service if they earn at least 1,000 hours of service throughout a 12-month computation period. Under the elapsed time method of crediting service, a plan determines eligibility by the period of time that passes when an employee is employed, devoid of regard to the actual quantity of hours that an employee works. Plans utilizing this strategy may perhaps not demand an employee to full a lot more than one year of service for eligibility. As demand for their labor exceeds supply, employers will need to accommodate their expanding expectations in terms of advantages and compensation in order to attract and retain more of this talent. Many employers are turning to a trusted adviser for help crafting strategies that make standard wellness insurance and ancillary coverages a lot more accessible and inexpensive for hourly and aspect-time workers, among other individuals.

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