Lump Sum Programs
Many companies utilize lump sum programs to a certain population of their employees who are asked to relocate because they are easy to manage and communicate. The challenge is that they are not always equitable due to varying employee and family needs, funds are not always used for relocation expenses, employees are responsible for managing their own relocation and the tax treatment applied is usually on the entire amount which may be excessive.
To alleviate some of these issues, we offer a Managed Lump Sum program. A Lump Sum Calculator is available to determine the actual cost of the relocation or based on the benefits which would be covered. Tax withholding or gross-up is only applied to the taxable portion of the payment which provides significant tax savings to employee or company. Employees receive the support and guidance that is necessary to guide them through a successful relocation. Additionally, employees receive the support and guidance that is necessary to guide them through a successful relocation including arranging for the shipment of household goods and providing destination services to assist with home finding and settling in.