Intro to HR Management-Chapter 12

Today, benefit and service offerings add nearly _________ to an organization payroll costs. 20% 30% 40% 50% 60%

30%

Rajiv works for a major private employer. Each year, he contributed a substantial amount to a retirement benefit plan. The employer matches these pre-tax dollars up to 6% of his income. What kind of retirement program does Rajiv have? Defined benefit plan Profit-sharing plan Money purchase pension plan 401(k) 403(b)

401(k)

Emmanuel worked for a large manufacturing firm in Detroit. Last year, he moved to the Southwest for his daughter's health and has continued to provide health care coverage for his family. He is concerned, because he needs to find a new job in the next 2 years, or his coverage will be cancelled. What kind of health insurance does Emmanuel have? Traditional HMO PPO COBRA HIPAA

COBRA

A preferred provider organization provides for continued employee benefits up to three years after an employee leaves a job. (T/F)

False

To be eligible for Social Security, employees must be employed for a minimum of 80 quarters or 20 years of work (T/F)

False

Unemployment compensation and workers' compensation are examples of voluntary benefits. (T/F)

False

When the Pension Benefit Guaranty Corporation takes over an underfunded pension plan, if there aren't enough assets in the pension plan to pay the retirement obligations, then taxpayers will make up the difference. (T/F)

False

The __________ requires organizations with 50 or more employees to provide eligible employees the opportunity to take up to 12 weeks of unpaid leave each year for family or medical reasons.

Family and medical leave act

_________ is a program whereby employees are presented with a menu of benefits and asked to select, within monetary limits imposed, the benefits they desire.

Flexible benefits

Maizie, a charge nurse in a large hospital, is frustrated with a phone call. She is thumbing through Joe's file, looking for a patient consent signature before she can answer questions from Joe's secretary, "How is Joe?" What health issue is relevant to Maizie's predicament? Traditional HMO PPO COBRA HIPAA

HIPAA

Which of the following is NOT a legally required benefit? Health insurance Social Security Unemployment compensation Workers' compensation Unpaid family and medical leave

Health insurance

Andre, a pizza maker, fell against an oven and injured his hand. His company was reluctant to file a workers' compensation report for this injury. Why? Insurance rates are computed based on the organization's accident experience. Workers' compensation is designed to provide income for employees who are between jobs, not for injuries. Hand injuries are not covered under this legislation. Workers' compensation benefits are paid to surviving relatives. John did not die. John's company self-insured with a private company.

Insurance rates are computed based on the organization's accident experience.

Jose works for a toy manufacturer that invests an amount equal to a certain percentage of his pay each year into a trust fund account. His firm has contributed to this optional program every year, even when they lost money. His fund usually receives the 25% maximum allowed by law. What kind of retirement program does Jose have? Defined benefit plan 403(k) Money purchase pension plan Profit-sharing plan Roth Individual Retirement Account

Profit-sharing plan

Vinita, a nurse, broke her hand tending a patient. She has used up her annual sick leave and will be unable to work for six more weeks. She is receiving pay for her time not worked through which benefit plan? Employee assistance Worker's replacement Short-term disability Company sick leave Long-term disability

Short-term disability

One of the most popular types of short-term disability is a company's _________ plan.

Sick leave

_________ provides some health insurance coverage through the federal Medicare program.

Social Security

Which of the following is NOT true regarding Social Security? Social Security provides a source of income for American retirees, disabled workers, and surviving dependents of workers who have died. Social Security provides some health insurance coverage through the federal Medicare program Social Security is financed only by the employer contributions. To be eligible for Social Security, employees must be employed for a minimum of 40 quarters. Social Security benefits vary based on the previous year's inflation, additional earnings, and recipient age.

Social Security is financed only by the employer contributions.

A recent survey found that as many as 70 percent of American workers didn't take all of their vacation time. (T/F)

True

Health insurance and retirement plans are examples of voluntary benefits. (T/F)

True