Module 1 Flashcards

1
Q

Employer Share of social security

A

Legally required benefit

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2
Q

Workers Comp

A

Legally required benefit

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3
Q

Unemployment Insurance

A

Legally required benefit

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4
Q

State Temporary Disability Income Insurance

A

Legally required benefit

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5
Q

OASDI

A

old age survivor disability insurance

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6
Q

Payments for time not worked (vacation, holiday)

A

Broad View

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7
Q

Employer share of medical and medical related

A

Broad View

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8
Q

Employee Discounts

A

Broad View

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9
Q

Education

A

Broad View

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10
Q

Child Care Benefits

A

Broad View

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11
Q

Defined Benefit

A

Pension

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12
Q

Defined Contribution

A

401k, 403b

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13
Q

403B Plan

A

not for profit, religious, school districts, gov - costs are lower

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14
Q

Inland Steel vs NLRB

A

Ruled bargain in good faith over wages and include insurance & fringes (pension)

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15
Q

NLRB

A

National Labor Relations Board

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16
Q

Wages

A

Not included in Broad View

17
Q

Narrow View of Emp Benefits

A

any type of plan sponsored or jointly engaged by ER/EE and not underwritten by gov

18
Q

WW Cross vs NLRB

A

Ruled wages included health and accident plan

19
Q

Taft-Hartley Act

A

Labor Management Relations Act: Good faith collective bargaining over wages, hours, conditions, & terms of employment/benefits

20
Q

Good-Faith Bargaining

A

duty of parties to meet and negotiate at reasonable times with willingness to reach agreement on matters without being required to make a concession or agree to any proposal

21
Q

Example of Tax Advantages of Employee Benefit Plan

A

ER Contributions are tax deductible
ER Contributions are not considered income to EE
Certain Retirement Benefits accumulate tax free until distributed