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June 15, 2020

How to Use an Employee Assistance Fund to Aid Employees During COVID

As the economic hardships of the pandemic continue to mount, many are looking for ways to help employees weather the crisis. After 9/11, the Internal Revenue Code was amended to allow employers to make direct payments to employees for qualified disaster relief under Section 139. Likewise, employee assistance funds are also commonly used vehicles to provide disaster relief and/or emergency hardship financial support for people affiliated with a particular employer. Both vehicles serve not only to protect one of your business’s most important assets — your people — by getting them back to work, but they also serve to boost morale, build community, and reduce employee turnover in the long-run.

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