Exam 21: The employee’ s safety nets: unemployment and workers’ compensation social security and retirement plans
What is the main purpose of Social Security?
The main purpose of social security is to provide partial replacement of earnings when a worker decides it is time to retire.
In the 1990 case of Adams Fruit Co.,Inc.v.Barrett,the Supreme Court held that workers could bring suit for violations of specific federal legislation despite the fact that:
D
Explain the three major categories of the Social Security system.
The three major categories of social security system are retirement insurance benefits,Medicare,and disability.
-Retirement Insurance Benefits - The original and the main purpose of social security is to provide partial replacement of earnings when a worker decides it is time to retire.Monthly benefits are payable to a retired insured worker from age sixty-two onward.Under some circumstances,a spouse or children may also be eligible.
-Medicare - Medicare benefits cover a portion of the costs of hospitalization and the medical expenses of insured workers and their spouses age sixty-five and older,as well as younger disabled workers in some circumstances.This insurance is divided into two parts,designated by the federal bureaucracy as A and B.Part A is hospital insurance for inpatient hospital care,inpatient skilled nursing care,and hospice care.Part B is supplementary medical insurance,which helps defray the costs of doctors' services and other medical expenses not covered by part A.
-Disability - Under the social security system,a worker is considered disabled when a severe physical or mental impairment prevents that person from working for a year or more or is expected to result in the victim's death.The disability does not have to be work related,but it must be total.Under some circumstances,a disabled worker's spouse,children,or surviving family members are also eligible for benefits.
For a person to be "fully insured" by social security,he or she must accrue a minimum of _____ quarters of contributions.
Explain the role of the Employee Retirement Income Security Act (ERISA).
The Employee Retirement Income Security Act (ERISA) sets the standards for pension plans on all of the following aspects except:
Sophisticated employers recognize that unemployment compensation claims must be considered within the context of the company's:
The minimum standards for pension plans must be met for the plan to qualify for:
The unemployment claim is usually evaluated in the first instance by an unemployment officer or agency in the area where the:
How much should a worker be credited when he becomes disabled between the ages of thirty-one and forty-two?
The Federal Employment Liability Act is a federal law designed to protect and compensate the injured:
What kind of benefit is provided for disabled people under Social Security?
Which of the following is not true of unemployment claims litigations?
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