Question

Complete the following exercises, in 2-4 sentences each and include a paragraph explaining how you can apply what you've learned in this chapter to your job.

1. Write a short note on the Consolidated Omnibus Budget Reconciliation Act of 1986.
2. What is workers' compensation? Mention some common features that all states' workers' compensation laws share.
3. Describe some measures that firms have taken to gain tighter management control over the cost of health care.
4. Discuss some of the trends that are helping to shape the future in health-care coverage.
5. Write a short note on the Pension Benefit Guaranty Corporation.
6. Briefly explain the provisions of the Pension Protection Act (PPA) of 2006.
7. Discuss the four approaches that are widely used to express the costs of employee benefits and services.
8. What is the broad objective of the design of compensation programs?
9. Who typically manages contributions to pension funds?
10. Explain the purpose of the unemployment insurance system.
11. Why do many companies offer domestic-partner benefits, regardless of an employee's sexual orientation and marital status?
12. What are some of the requirements for a worker to receive unemployment benefits?
13. Briefly discuss some of the reasons why employee benefits have grown in the recent years.

Answer 1

1) Pension Benefit Garanty Act is US federally chartered corporation created in 1974.The main purpose of this os yo wncourage and retain the pwnsion scheme.Also provide penion bemefit ans timely payment. One of tue purpose is to maintain low premium.It pay pension benefit at the highest profit at 65 years. Which is 65,295 latest.

2) proviaion in PPA

increaae contribution limit to IRA

Prit individuals who are at least 50 years

Increase deduction limit SEP i ra

Increase saley defferal contribution

Relax portability rules

Allow roth contribution

3) Objective to design compensation Program

To attach highly capable and efficient employee

To increase employee retantion

To increase employee inspiration

To increase employee apeisiation

4) Employer is the contributer in pension plan

5) unemploent pwnsion syatem secure the future of the person and make sure that person have wnough amount at age of 65

6) Domestic partner not discrimate any employee and in the sex and marital status it discriminate and domestic is really good for emploee

7) for worker there is no security of job so for security of the employee it is necessary to have benefit

8) the reason of growth in employee benefits is that companys are looking for employee's satisfaction, retaintion of employee is key in few year, employees can feel better whem they have savings in pension benefit, to increase loyalty of worker and receive benefit od employew