Tax advantages as benefits provided to their spouses
Laura, HR manager at a
tech company, is responsible for administering the company benefits program.
The employee benefits package will undergo several significant changes at the
start of the new year. Which of the following would be an effective strategy to
share the changes with employees?
·
Set up Q&A
sessions with each department to discuss the changes.
Jim is the CEO of a
company that is expanding overseas. He considers introducing a cafeteria-style
benefits plan to cater to the company's diverse workforce. However, the HR team
brings up the concern of higher expenses involved in this type of benefits.
Which of the following is Jim likely to do to lower costs at the initial stage?
·
Use software packages
to design the plan
The use of wellness
programs and consumer-directed health plans in an organization reflect its
objective of controlling the cost of healthcare benefits.
·
True
Under the Older
Workers Benefit Protection Act of 1990, which of the following guidelines must
employers follow when asking employees to sign early-retirement waivers?
·
Inform employees that
they may consult with a lawyer before signing.
Sick leave programs:
·
pay employees for days
not worked due to illness.
Ravi is the CEO of a
magazine publishing company. He wants to diversify his workforce and bring in
more ethnically diverse employees into his company as he believes that exposure
to people from different cultures is likely to increase the creativity of his
workforce. Which of the following types of plans should Ravi adopt to allow
flexibility?
·
Cafeteria-style plan
Which of the following
is true of child care?
·
Companies that provide
child care facilities face liability concerns.
Which of the following
is a function of elder care benefits offered by organizations?
·
They provide
information, referrals, and support.
Employers in the
United States are legally required to provide 30 days of paid vacation to both
new and existing employees every year.
·
False
Contrary to Western
European countries, the United States has no legal requirements regarding
employee ________.
·
paid vacation time
Two management
students, Frank and Neil, discuss the pros and cons of employee benefits. Frank
states that unemployment insurance is more advantageous to employees than it is
to employers, while Neil argues that employers receive more rewards from it.
Which of the following weakens Neil's argument?
·
Federal and state
taxes paid by employers fund most of unemployment insurance.
Floating holidays are
standardized on an annual basis in the United States.
·
False
The Family and Medical
Leave Act of 1993 requires organizations with 50 or more employees within a
75-mile radius to provide as much as 12 weeks of unpaid leave to qualifying
employees.
·
True
Benefits provided to
domestic partners of employees have the same tax advantages as benefits
provided to their spouses.
·
False
According to the
Financial Accounting Standards Board (FASB), employers fund retirement benefits
on a pay-as-you-go basis.
·
False
Which of the following
is an advantage of a qualified plan in retirement benefits?
·
Immediate tax
deductions for the funds employees contribute to the plan
Which of the following
is an advantage of cafeteria-style plans?
·
Employees can get a
better understanding of the value of benefits provided.
How do cafeteria-style
plans increase costs for employers?
·
Employees select the
kind of benefits they expect to need the most.
According to Employee
Retirement Income Security Act (ERISA), employees whose contributions are
vested meet the requirements to receive a pension at retirement age.
·
True
Which of the following
is true of short-term disability insurance?
·
It pays a portion of a
disabled employee's salary as benefits for up to six months.
USA 
India