Ch 12 Flashcards
Misc Benefits
Company car
product discounts
housing subsidy
EE services
EAP's child care elder card financial services food services wellness
Pay for Time not worked
Vacation Holidays Sickness Parental Leaves Severance
Health Benefits
Insurance Life AD&D dental health spending accounts
Retirement Benefits
Pension plans
defined benefit
defined contribution
Mandatory Benefits
CPP
EI
WCB
flexible benefit system
An employee benefit plan that allows employees to allocate employer-provided credits to purchase the benefits of most value to them.
fixed benefit system
An employee benefit plan that provides a standard set of benefits to all those covered by the plan.
employee assistance programs (EAPs)
Employer-provided programs to help employees deal with a variety of personal problems.
supplemental unemployment benefits (SUBs)
An employer-provided benefit that extends government-provided unemployment benefits.
hybrid pension plans
Pension plan that combines defined benefit and defined contribution
defined contribution plans
Pension plans that provide retirement income based on the accrued value of employer and employee contributions to the plan.
defined benefit plans
Pension plans that provide retirement income based on a proportion of the employee’s pay at the time of retirement.
