comp chapter 13

Employees are the sole contributors to their cash balance plans.

False

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

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.

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?

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.

An employer experiencing high turnover and seeking to reduce pension costs is likely to prefer:

full vesting after three years

Which of the following is a benefit under Social Security?

lump-sum death payments

A ________ plan is a hybrid health plan combining the benefits of a health maintenance organization and a ________.

point-of-service; preferred provider organization

Which of the following benefits is a federally administered program?

social security

Vesting refers to the length of time an employee must work for an employer before he or she is entitled to employer payments made into a pension plan.

True

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

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