Exam 13: Benefit Options

In a _____ plan, an employer agrees to provide a specific level of retirement pension, which is expressed as either a fixed dollar or a percentage-of-earnings amount that may vary (increase) with years of seniority in the company.

Some level of dental coverage is provided by about _____ percent of all employers with above 500 employees.

Jennifer is hurt at work while driving a forklift.Her employer claims that she was injured as a result of her careless driving, and therefore she is not eligible for workers' compensation.What will be the outcome of the employer's challenge to her worker's compensation claim?

Data from WellPoint Inc shows that _____ percent of its 29 million customers account for over 60 percent of its medical costs.

An employer experiencing high turnover and seeking to reduce pension cost is likely to prefer:

Employees prefer defined contribution (DC) plans over defined benefit plans because DC plans tend to vest faster.

A 401(k) is an example of a defined benefit plan.

A qualified deferred compensation plan offers tax advantages to employers.

The rising costs of Social Security have been covered by:

A _____ plan is a hybrid health plan combining the benefits of HMO and _____.

Maxford Corp.offers full vesting after two years.However, it does not offer portability of pension to its employees.Which of the following statements is true in this scenario?

For an employee to gain lifetime coverage under Social Security, they must have worked for _____ quarters during which they were covered by the Act.

Roughly _____ of all employees have access to paid life insurance.

Explain vesting and portability.

Worker's compensation costs have been declining since 2005 due in part to employer safety programs.

Today, _____ percent of the workers participate in the pension plan coverage provided by their employers.

A McKinsey survey of CEOs found nearly 90 percent believe benefits are very important for attracting and retaining employees.

_____ relieve an employer's liability when a pre-employment injury combines with a work-related injury to produce a disability greater than that caused by the latter alone.

Which of the following is a benefit under Social Security?

Medicare is not part of Social Security.