Which of the following is true about employee benefits? Show
A. B. C. D. E. b Which of the following is a unique aspect of benefits? A. B. C. D. E. b The _____ tax rate is the percentage of additional earnings that goes to taxes. A. marginal a Which of the following is a reason for the growth of benefits as a method of employee compensation? A. B. C. D. E. e Which of the following was an amendment to the Social Security Act of 1935? A. Descendant's insurance d Which of the following is true about social security as a benefits program? A. B. C. D. E. e Which of the following is true about the Old Age, Survivors, Disability, and Health Insurance (OASDHI) program? A. B. C. D. E. e _____ increases are provided as part of social security benefits for each year that the consumer price index increases. A. Unemployment benefits b Which of the following is true about Social Security retirement benefits? A. B. C. D. E. e Which of the following is a major objective of the unemployment insurance program? A. B. C. D. E. c The unemployment insurance program is financed largely through federal and state taxes on _____. A. employees b Workers are eligible for unemployment benefits if they: A. B. C. D. E. d Which of the following individuals is eligible for unemployment benefits? A. B. C. D. E. e Workers' compensation laws cover job-related _____. A. pay raises d Which of the following is a major category of workers' compensation? A. Sustainability income c Which one of the following is true about workers' compensation? A. B. C. D. E. e The workers' compensation cost to an employer is based on the: A. type of competition faced. d Which of the following is true of the cost to the employer for workers' compensation? A. B. C. D. E. c Group insurance rates are typically lower than individual rates because: A. B. C. of economies of scale. D. it is exempt from taxes. E. c Which of the following is true about private group insurance? A. B.
C. D. E. a The _____ requires employers to permit employees to extend their health insurance coverage at group rates for up to 36 months following a qualifying event, such as a layoff. A. B. C. D. E. d Which of the following is true of Consolidated Omnibus Budget Reconciliation Act (COBRA)? A. B. C. D. E. c Which of the following is the largest single component of the elderly's overall retirement income? A. Old age insurance a _____ guarantees to pay employees a basic retirement benefit in the event that financial difficulties force a company to terminate or reduce employee pension benefits. A. B. C. D. E. b Which of the following increased the fiduciary responsibilities of pension plan trustees and established vesting rights and portability provisions? A. B. C. D. E. c Which of the following statements is true about the Pension Benefit Guaranty Corporation (PBGC)? A. B. C. D. E. c Which of the following is true about defined contribution plans? A. B. C. D. E. d _____ plans do not promise a specific benefit level for employees upon retirement. A.Defined benefit c _____ plans permit employees to defer compensation on a pretax basis. A. Supplemental benefit b Defined contribution plans made it the responsibility of the _____ to make wise investment decisions for their retirement plans. A. insurance companies B. employer C. D. employee E. U.S. Department of Labor d Which of the following affects the amount of income that will be available to an employee upon retirement in defined contribution plans? A. B. C. D. E. e The _____ requires defined contribution plans holding publicly traded securities to provide employees with at least three investment options other than employer securities. A. B. C. D. E. e According to the Employee Retirement Income Security Act (ERISA), the rights of employees to a pension upon retirement are known as _____. A. vesting rights a Which of the following is true about vesting rights? A. B. C. D. E. b Which of the following provides 12 weeks of unpaid absence from work to care for a seriously ill child, spouse, or parent if the organization has at least 50 employees living within a 75-mile radius? A. B. Child and Family Services Act C. Child Support Recovery Act D. Family and Medical Leave Act E. Affordable Care Act d The Pregnancy Discrimination Act of 1978 requires employers to: A. B. C. D. E. b
At the highest level of child care provision, firms provide employees with: A. B. C. D. E. b
Survey information on competitors' benefits packages and information on benefits costs are available from the _____. A. public consultants B. Pension Benefit Guaranty Corporation (PBGC) C. Bureau of Labor Statistics (BLS) D. Legal Information Institute (LII) E. unemployment offices c Which of the following benefits involve the highest of costs? A. Legally required
benefits b Which of the following is a characteristic of Preferred Provider Organizations (PPOs)? A. B. C. D. E. e Which of the following is a characteristic of a health maintenance organization (HMO)? A. B. C. D. E. c In which of the following ways do PPOs differ from HMOs? A. B. C. D.
E. a Employee wellness programs primarily aim at: A. B. C. D. E.
e An organization introduces active employee wellness programs. Which of the following is likely to happen as a result of this? A. B. C. D. E. d Which one of the following is an active wellness program? A. B. C.
D. E. b Which of the following is true of passive employee wellness programs (EWPs)? A. B. C. D. E. c Which of the following is true of active wellness programs? A. B. C.
D. E. a Which of the following is an example of a Pareto group? A. B. C. D. E. a Which of the following is true of Fair Labor Standards Act (FLSA)? A. B. C. D. E.
c In which of the following ways may staffing practices change in response to benefit cost controls? A. B. C. D. E. b In the context of benefits, which of the following is true of the demographics of a workforce? A. B. C. D. E. e Benefit plans that permit employees to choose the types and amounts of benefits they want are called _____. A. defined benefit plan b Which of the following is true of the different methods used for benefits communication? A. B. C. D. E. c Which of the following media is least used by organizations to communicate benefit plans? A. B. C. D. E. b Which of the following media is most widely used by organizations to communicate benefit plans? A. B. C. D. E. a Which of the following is an advantage for employers who implement flexible benefits plans? A. B. C. D. E. c In cafeteria-style plans, adverse selection can be controlled by: A. B. C. D. E.
e In the 1978 Manhart ruling, the Supreme Court declared it illegal for employers to require: A. B. C. D. E. d Which of the following statements is true about flexible spending accounts? A. B. C. D. E. These accounts cause a reduction in the take-home pay.
b The major advantage of a flexible spending account is that: A. B. C. D. E. d According to the Age Discrimination in Employment Act (ADEA), in early retirement incentive programs, _____. A. B. C. D. E. e To be a qualified benefits plan, a pension plan should not discriminate in favor of _____. A. part-time employees c According to the Americans with Disabilities Act (ADA), A. B. C. D. E. b Which type of retiree benefits plan is excluded from the rule of Financial Accounting Statement 106 that states that benefits should not be provided on pay-as-you-go basis? A. Health care b Financial Accounting Statement 106 requires that any benefits provided after retirement must be paid on a(n) _____ basis. A. pay-as-you-go b What are the reasons why benefits and services are granted to employees in addition to employees salaries?Having a competitive benefits plan will improve employees' attitudes about their job. Employees will appreciate having these benefits and, therefore, will value their job more. Employees with a positive attitude contribute to company morale and work productively to ensure their job is secure.
What are the 3 main things that a company must consider when designing benefits plan?5 steps to designing an employee benefits plan for 2021. Step 1: Set clear objectives and budget. ... . Step 2: Look internally and externally. ... . Step 3: Formulate a custom & flexible employee benefits plan. ... . Step 4: Communicate your benefits plan to existing and potential employees. ... . Step 5: Evaluate the effectiveness of benefits.. What is the purpose of employee benefits?The purpose of employee benefits is to increase the economic security of staff members, and in doing so, improve worker retention across the organization. As such, it is one component of reward management.
What are the major factors in determining employee benefits in a particular organization?7 Factors for Designing Your Employee Benefits Package. Employee Health Insurance, Vision Insurance and Dental Coverage. ... . How Much PTO to Offer, Including Sick Leave and Holidays. ... . Best Retirement Plan Contributions and Vesting. ... . Offering Life and Disability Insurance as an Employee Benefit. ... . Offering Paid Family Leave.. |