Comp Final Ch 13

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

53

The majority of defined benefit plans calculate average earnings over the last ________ years of service for a prospective retiree.

3 to 5

Almost ________ percent of the companies offering child care assistance to employees also offer elder care assistance.

50

The ________ was enacted by the Congress to provide current and former employees and their spouses and dependents with a temporary extension of group health insurance when coverage is lost due to qualifying events.

Consolidated Omnibus Budget Reconciliation Act

The ________ is designed to lessen an employer's ability to deny coverage to an employee for a preexisting condition.

Health Insurance Portability and Accountability Act

Which of the following is true of the Affordable Care Act?

It is aimed at expanding health care coverage through an individual mandate to purchase health insurance and an employer mandate to provide qualifying health insurance coverage.

Jacob, an 18-year-old, has been working at HoldVille Corp. for over a year. If HoldVille offers full vesting after one year, which of the following statements is true?

Jacob is not eligible for pension as he is not over 21.

Which of the following is a benefit under Social Security?

Lump-sum death payments

Michael was laid off by his company owing to budget cuts. Before being laid off, he earned $1,000 per week. If he has been receiving unemployment insurance benefits for 26 weeks, which of the following statements is true in this scenario?

Michael is no longer eligible for unemployment benefits.

A key provision of the ________ allows employees in publicly traded companies the freedom to sell off any employer stock purchased through deferrals or after-tax contributions.

Pension Protection Act

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

Second-injury funds

Which of the following benefits is a federally administered program?

Social Security

In the context of the Consolidated Omnibus Budget Reconciliation Act, which of the following statements is true?

The biggest concern for individuals getting health insurance under the Consolidated Omnibus Budget Reconciliation Act is the relatively brief qualifying period.

Which of the following is a feature of defined contribution plans?

They are faster to vest than defined benefit plans.

What is the first question that should be asked when determining the amount of retirement income an employer should provide?

What level of retirement compensation would the employer like to set as a target, expressed in relation to preretirement earnings?

In a(n) ________, employees have a hypothetical account into which is deposited what is typically a percentage of annual compensation.

cash balance plan

Experts attribute the stabilization in the dollar cost of workers' compensation since 2010 to:

employer safety programs

In the majority of states, unemployment insurance is financed exclusively by:

employers that pay federal and state unemployment insurance.

Contingent workers receive ________ benefits than regular workers; contingent workers' benefits cost ________ for employers than it does for regular workers.

fewer; less

The rising costs of Social Security have been covered by:

increases in the maximum earnings base and the rate at which that base is taxed.