Exam 12: Designing Indirect Pay Plans

One drawback associated with outsourcing routine benefits administration is the notion that employers will begin to lose touch with benefit needs and issues important to employees.

Defined contribution plans ultimately transfer retirement income risk from the employer to the employee.

What benefit system provides employees with the choice between two or more fixed plans?

Which of the following is NOT a government-regulated benefit?

Describe the main issues in designing the benefits system.

Which variable has NOT caused Canadian organizations to move away from pensions that have defined benefits?

Which process of evaluating benefits systems considers the net benefits associated with a particular benefit system?

Which plan allows you to tailor your benefit plan to suit your needs and even trade off benefits that are not important to you?

Discuss the pros and cons of flexible versus fixed benefits plans.

Identify and briefly explain the types of pension plans discussed in the textbook.

Life and accident insurance is almost always included in benefit plans.Which statement does NOT accurately describe life and accident insurance?

Firms with flexible benefit plans may enjoy a competitive advantage in terms of recruitment.What is the likely reason for this?

As a member of the company's defined benefit plan,employees receive a pension based on one percent of the average of their best three years' earnings for each year of service.What will be your annual pension if you retire after 30 years of service and have averaged $50,000 per year during your three best years?

As a result of a recent human resource audit,it was determined that a particular company has an "underfund liability" associated with its retirement plan,requiring an immediate injection of cash.What type of pension plan or retirement plan is this company likely using?

Life insurance is among the top three nonmandatory benefits offered by Canadian firms with at least 10 employees.

Which term refers to a company pension plan that guarantees a certain benefit to retirees regardless of market conditions?

It is not cost effective having employers purchase dental coverage on behalf of their employees instead of the employees themselves.

Which type of employee services are free onsite massages during peak times,fitness club memberships,and Internet stations in lounge areas examples of?

Providing which benefit will reinforce your strong commitment to helping your employees balance work and personal activities?

Which nonmandatory major benefit is the most common among Canadian organizations with 10 or more employees?