Exam 11: Employee Benefits

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

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.

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

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

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

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.

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

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.

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

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.

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

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

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

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.

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.

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

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.

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

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.

Why have 401(k) plans become so popular?