Exam 14: Providing Employee Benefits

A) employee wellness program
B) health maintenance organization plan
C) preferred provider program
D) managed care program
E) consumer-driven health program

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Health maintenance organizations (HMOs)a...

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A) Ability of retired employees to retain their seniority if they return to work at their former employer.
B) Government commitment to provide retirement benefits to all U.S. workers.
C) Designation that retired workers will receive cost-of-living increases as part of their monthly pension checks.
D) Guarantee that employees in a pension plan will receive a pension at retirement age, regardless of whether they stay with the employer.
E) Ability of younger workers to move their retirement savings to another account after leaving a specific employer.

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A) top-heavy
B) multiemployer
C) special draw rights
D) deferred
E) defined-contribution

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A

A) Workers receive no benefits until they reach the full retirement age.
B) Workers are compensated according to their past earnings and retirement age.
C) Workers receive increased benefits when they earn more than the exempt amount.
D) The cost of the program is borne entirely by the employers, who pay a payroll tax.
E) The program benefits persons who are financially dependent on current workers.

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False

A) must be provided by all employers according to the law.
B) are based solely on the age of employees.
C) pay employees for days not worked due to illness.
D) are mandatory forms of unpaid leave.
E) are forms of floating holidays.

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A) length of service
B) position within the company
C) union contracts
D) educational background
E) prior job experience

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As employers have recognized the significance of employees' need to manage conflicts between their work and family roles many have added "family-friendly" benefits to their employee benefits.These benefits include family leave policies and child care.The following types of benefits are typical: 1)Family leave-Family or parental leave grants employees time off to care for children and other dependents.The federal law requires 12 weeks of unpaid leave. 2)Child care-Child care benefits may take several forms,requiring different levels of organizational involvement.The lowest level of involvement is for the organization to supply and help employees collect information about the cost and quality of available child care.At the next level,organizations provide vouchers or discounts for employees to use at existing child care facilities.At the highest level of involvement,the employer provides child care at or near the work site.Staffing a child care facility is costly and involves important liability concerns.At the same time,the results of this type of benefit,in terms of reducing absenteeism and enhancing productivity,have been mixed. 3)College savings-As workers' children grow up,their needs shift from maternity leave and child care to college tuition.Some organizations have supported this concern by sponsoring tax-favored 529 savings plans.These plans let parents and other family members defer taxes on the earnings of their deposits into the 529 account.Some states also provide a (limited)tax deduction for these contributions. 4)Elder care-As the population of the nation's elderly grows,so do the demands on adult children to care for elderly parents,aunts,and uncles.When these people become ill or disabled,they rely on family or professional caregivers.The elder care benefits typically emphasize information and support,rather than direct financial assistance.

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A) It is simpler to pay compensation in benefits than in cash.
B) Benefits give greater control to employees over cash compensation.
C) All companies that provide benefits become eligible for tax breaks by state and federal agencies.
D) Younger employees place more importance on benefits than cash compensation.
E) Employers can assemble creative benefits packages that give them a competitive advantage.

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A) Unemployment insurance provides employers a competitive advantage in the talent market.
B) The amount of an employer's unemployment insurance tax depends on the number of employees.
C) Federal and state taxes paid by employers fund most of unemployment insurance.
D) Unemployment insurance does not provide assistance to unemployed workers looking for new jobs.
E) Unemployment insurance does not include payment to offset lost income during voluntary unemployment.

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A) Individual plans are typically offered only to senior executives.
B) Rates for group insurance are typically lower than that of individual policies.
C) Kelly will not be eligible for other benefits if she does not enroll in a group insurance plan.
D) Employees get more for their money when they receive insurance as a group benefit.
E) Kelly will get more take-home pay if she opts for a group insurance plan.

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A) Organizations with many experienced employees
B) Organizations with a few skilled employees
C) Organizations with many young employees
D) Organizations with many retired employees
E) Organizations with highly skilled, young employees

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A) 529 savings plan
B) 401k savings plan
C) 2015 college tuition plan
D) U.S. saving bonds plan
E) TD Ameritrade college tuition plan

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