Chapter 12 Flashcards
1
Q
Types of employee benefits and services (6)
A
- Mandatory benefits
- Retirement income
- Health benefits
- Pay for time not worked
- Employee services
- Miscellaneous benefits
2
Q
Mandatory benefits
A
- Canada/Quebec Pension plan
- Employee insurance
- workers comp.
- supplemental unemployment benefits
- parental leaves
- educational/sabbatical leaves
- severance pay
3
Q
Retirement income
A
- defined benefit plans: provide retirement income based on a proportion of the employees pay at the time of retirement
- defined contribution plans: provide retirement income based on the accrued value of employer and employee contributions to the plan
- hybrid pension plans
4
Q
Health benefits
A
- supplemental health insurance
- disability insurance
- life and accident insurance
- dental insurance
# - health care spending accounts
5
Q
Pay for time not worked
A
- vacations, holidays, breaks
- sickness, compassionate absence
6
Q
Employee services
A
- employee assistance programs
- wellness and recreational
- child care / elder care
- work-life balance
- financial/legal services
- food services
- outplacement services
7
Q
Miscellaneous benefits
A
- use of company vehicles
- product/service discount
- housing/mortgage subsidies
- employee savings plan
- tuition reimbursement
- work clothing/equipment
