chapter 13 Flashcards

1
Q

indirect financial and nonfinancial payments employees receive for continuing their employment with the company

A

benefits

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2
Q

benefits for time not worked such as unemployment insurance, vacation and holiday pay, and sick pay

A

supplemental pay benefits

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3
Q

provides benefits if a person is unable to work through some fault other than his or her own

A

unemployment insurance

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4
Q

provides pay to an employee when he or she is out of work because of illness

A

sick leave

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5
Q

provide for a guaranteed annual income in certain industries where employers must shut down to change machinery or due to reduced work

A

supplemental unemployment benefits

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6
Q

provides income and medical benefits to work related accident victims or their dependents regardless of fault

A

workers compensation

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7
Q

a prepaid health care system that generally provides routine round the clock medical services as well as preventive medicine in a clinic type arrangement for employees

A

health maintenance organization

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8
Q

groups of health care providers that contract with employers, insurance companies, or third party payers to provide medical care services at a reduced fee

A

preferred provider organizations

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9
Q

provides lower rates for the employer or employee and includes all employees, including new employees

A

group life insurance

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10
Q

federal program that provides three type of benefits: retirement income, survivors or death benefits, disability

A

social security

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11
Q

plans that provide a fixed sum when employees reach a predetermined retirement age or when they can no longer work due to disability

A

pension plans

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12
Q

a plan that contains a formula for determining retirement benefits

A

defined benefit pension plans

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13
Q

a plan in which the employers contribution to employees retirement savings funds is specified

A

defined contribution pension plan

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14
Q

instituting policies that enable employees to easily take their accumulated pension funds when they leave an employer

A

portability

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15
Q

a defined contribution planed based on section 401k of the internal revenue code

A

401k plan

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16
Q

plan in which employees contribute a portion of their earnings to a fund; the employer usually matches this contribution in whole or in part

A

savings and thrift plan

17
Q

a plan in which a certain amount of profits is credited to each employees account, payable at retirement, termination, or death

A

deferred profit sharing plan

18
Q

a qualified, tax deductible stock bonus plan in which employers contribute stock to a trust for eventual use by employees

A

employee stock ownership plan

19
Q

plans under which the employer contributes a percentage of employees current pay to employees pension plans every year, and employees earn interest ont his amount

A

cash balance plans

20
Q

signed into law by president ford to require that pension rights be vested and protected by a government agency, the pbgc

A

employee retirement income security act of 1975

21
Q

established under erisa to ensure that pensions meet vesting obligations, also insures pensions should a plan terminate without sufficient funds to meet its obligations

A

pension benefits guarantee corporation

22
Q

a type of offering by which employees ar encouraged to retire early, the incentive being liberal pension benefits plus perhaps a cash payment

A

early retirement window

23
Q

a formal employer program for providing employees with counseling and or treatment programs for problems such as alcoholism

A

employee assistance program

24
Q

benefits such as child care and fitness facilities that make it easier for employees to balance their work and family responsibilities

A

family friendly benefits

25
individualized plans allowed by employers to accommodate employee preferences for benefits
flexible benfits plan
26
a work schedule in which employees workdays are built around a core of midday hours, and employees determine, within limits, what other hours they will work
flex time
27
schedule in which employee works fewer but longer days each week
compressed workweek
28
allows two or more people to share a single full time job
job sharing
29
refers to a temporary reduction in work hours by a group of employees during economic downturns as a way to prevent layoffs
work sharing