Cut logo in the Relocation Policy

Aug 6th, 2022
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Reimbursement relocation packages allow transferees to pay for all moving expenses with the notion in mind that their employer will reimburse them with a specific amount of money after they have relocated. In doing this, a company covers most if not all moving expenses.
The term relocation policy or relocation package refers to both the specific financial benefits an employee receives to offset the cost of their move and the logistical assistance provided to them.
The most common relocation repayment requires repayment in full if termination of employment is within 12 months after relocation or a prorated amount for up to 2 years. If a move is in process when employment ends, unused benefits typically cease immediately.
A typical relocation package usually covers the costs of moving and storing furnishings, household goods, assistance with selling an existing home, costs incurred with house-hunting, temporary housing, and all travel costs by the employee and family to the new location.
If you did not have an old workplace, your new workplace must be at least 50 miles from your old home. The distance between the two points is the shortest of the more commonly traveled routes between them. TIP To see if you meet the distance test, you can use the worksheet below.
The distance between your new job and your former home must be at least 50 miles farther than your previous employer is from that home. For example, if your previous commute to work was five miles each way, then the distance from your new job location to your old home must be at least 55 miles.
Payment. A relocation incentive may not exceed 25 percent of the employees annual rate of basic pay in effect at the beginning of the service period multiplied by the number of years (including fractions of a year) in the service period (not to exceed 4 years).
75.464 Relocation costs of employees. (1) The move is for the benefit of the employer. (2) Reimbursement to the employee is in ance with an established written policy consistently followed by the employer. (3) The reimbursement does not exceed the employees actual (or reasonably estimated) expenses.

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