What Is Considered a Fringe Benefit?

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Although your paycheck is the most immediate and tangible benefit you receive from your job, you might also have a number of other benefits. These were once called fringe benefits, but are now simply known as benefits. Benefits often provide you with something you would not have without working at that particular job, which means you save money on out-of-pocket discretionary items.

The Basics of Benefits

Many organizations offer common benefits such as paid vacations, holidays and sick time, according to the U.S. Department of Labor. Other benefits include paid life insurance or health insurance and retirement plans. If your employer offers meals, a health club membership, subsidized child care or a health savings account, these are also classified as benefits, according to the Internal Revenue Service. Employer-subsidized cell phones and laptops are additional benefits. Some companies provide company cars or even larger transportation services such as use of corporate planes or helicopters.

Benefits Vary

Not all employees have the same benefits, even within the same company. A top-level executive, for example, is much more likely to have a company car than a worker on the front lines. Some companies pay moving expenses and housing assistance for employees who must relocate, though this perk might not be available to all workers.