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Exam 11: Employee Benefits

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Question 31

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Regardless of the medium, which of the following is NOT a general pointer for designing benefits information?

A) Avoid complex language when describing benefits.Clear, concise, and understandablelanguage is a must.
B) Explain the purpose behind a benefit and the value it offers employees.Be up frontabout the pros and cons of different benefit plans.
C) Provide numerous examples to illustrate how a benefit choice might affect different types of employees, depending upon their personal circumstances.
D) Avoid the use of graphics as, they tend to make the information less understandable and encourage confusion.

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Question 32

Multiple Choice

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In TynsCorp's pension plan, the amount that an employee is to receive upon retirement is set in advance based on the employee's years of service, average earnings, and age at retirement. This is a

A) contributory plan.
B) noncontributory plan.
C) defined-benefit plan.
D) defined-contribution plan.

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Question 33

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When communicating benefits packages to employees, using a uniform method or technique is recommended for consistency, so that everyone hears the same message in the same way.

Since it is essentially retirement insurance, in order to qualify for Social Security benefits, individuals must be at least 65 years of age.

When an employer offers a contributory pension plan, contributions are made jointly by employers and the government.

Generally speaking, a firm with a record of laying off large numbers of employees will have to pay a lower payroll tax rate than those that do not.

Even though paid time off is not mandated by law, most companies provide paid vacation time for their employees because research shows that workers who get vacations are more productive and less prone to job-related burnout.

Workers' compensation programs serve to prevent financial disaster to employees who are injured or become ill through their work.

TynsCorp contracted with compensation specialists to make recommendations on how to improve its benefits packages. It is likely that those specialists will suggest flexible benefits plans, as those tend to be seen as ideal.

TynsCorp and Lowell Industries are similar-sized companies located in the same state, and operating in the same market sector. Because TynsCorp has a much higher injury rate than Lowell Industries, it pays a higher workers' compensation insurance rate.

Explain the concept of work-life benefits. Name and discuss at least five of these benefits employers offer their employees.

One of the limitations of the Family and Medical Leave Act is that it only applies to companies that have __________ or more employees during 20 or more calendar workweeks in the current or preceding year.

It is worthwhile for employers to offer attractive benefit packages, because surveys show that employees who are satisfied with their benefits are more likely to be satisfied with their jobs.

There has been a reduction in the number of single-parent families and two-earner couples in the workplace than there have been in the decades past.

Why have 401(k) plans become so popular?

Polaroid allows employees the opportunity to try out retirement with a leave program, or gradually reduce their work hours as they approach retirement age. This is an example of

Employers struggling to help employees meet elder care needs may want to consider banding together, similar to the model set by the Partnership for Elder Care, which is a cooperative arrangement referred to as a

Some states provide rights to employees that are lesser than those provided by the Family and Medical Leave Act.

Holiday pay, sick leave, and vacation pay are examples of

Paid time off for hours not worked is not mandatory in the United States.