Lump Sum ManagementWhat is Lump Sum?
Traditional Lump Sum Program
Global Mobility Solutions assists relocating employees with maximizing their allocated lump sum relocation dollars through our vast network of partners. Employees can select the options that they need from our a la carte menu of services, providing those services are within the parameters of your specific policy. The dedicated relocation coach provides advice and counsel along the way by explaining how to best utilize their lump sum.
Many clients that have a lump sum relocation program appreciate the GMS MoveMoney™ debit card. With this card, funds are electronically transferred to the employee after their expense report is audited. The employee has immediate access 24/7/365 via ATMs and point-of sale retailers nationwide. In addition, funds can also be electronically transferred from the card to their personal checking account.What is Managed Cap?
Managed Cap Program
The GMS managed cap program gives the employee a specific amount of funds to spend along with the benefit of the support services offered by GMS. GMS provides expertise in policy counseling to the employee on the best allocation of their funds when choosing from an array of relocation services. In addition, they receive guidance on the taxation of particular components, saving the company a FICA tax match and gross-up on the home sale. The managed cap program has contributed to fewer budget overages and higher satisfaction levels than the lump-sum option resulting in a maximum benefit for both the company and the employee.
Global Mobility Solutions named a top relocation company by HRO Today’s “Baker’s Dozen” view report