Total Rewards (15%)

Question 1

3 Main Objectives of Comp Program

Answer 1

1. Retain EEs and motivate them
2. Offer fair reward for their achievements
3. Create incentives for future

Question 2

3 Forms of Comp

Answer 2

1. Base wage/Salary
2. Benefits
3. Incentives

Question 3

3 criteria to be exempt from FLSA

Answer 3

1. Earn more than $684/week
2. Salaried
3. Perform certain exempt duties as part of job

Question 4

4 Key Provisions for the FLSA

Answer 4

1. Min wage
2. Overtime
3. Child Labor
4. Record Keeping

Question 5

FLSA does not cover

Answer 5

• Vacation/sick pay/holiday/severance
• Meal or rest periods
• Min pay for weekend/holiday work
• Pay raises or fringe benefits
• Procedures for discharging an EE

Question 6

Davis-Bacon Act

Answer 6

1st fed legislation to mandate that laborers and mechanics be paid the prevailing wage on public works projects

Question 7

Prevailing Wage

Answer 7

The usual wage, benefits, and OT that are paid in the largest city in each county to the majority of workers on a public works project. Prevent ERs hiring out of state workers for cheaper

Question 8

Walsh-Healey Public Contracts Act

Answer 8

Protect EEs working under gov contracts from working for substandard wages for contracts >10k

1. Pay matching wages in the area
2. EEs get 1.5 rate OT after 8 hours/day or 40 hours/wk
3. Prohibits hiring under 18 and criminals
4. Workplaces meet safety and sanitation standards

Question 9

Portal-to-Portal Act

Answer 9

Specifies the compensable time for which ERs are accountable. Commute not compensable but ER must compensate workers for performing job-related tasks outside of work hours or during lunch breaks

Question 10

Older Worker Benefit Protection

Answer 10

Amendment to ADEA prohibits ERs from discriminating against older EEs when it comes to benefit plans.

Question 11

Retirement Equity Act

Answer 11

Reduced the existing age limits restricting participation in retirement plans.

Question 12

Pension Protection Act

Answer 12

Protects EEs when they are entitled to pension plans, but those plans do not have funds necessary to provide promised benefits

Question 13

Mental Health Parity Act

Answer 13

Requires that insurers provide the same limits for mental health services for EEs that provide for other medical benefits

Question 14

Old Age, Survivors, and Disability Insurance program

Answer 14

Established as part of the SSA. Offers benefits to EEs who retire or become unable to work

Question 15

Federal-State Unemployment Insurance Program

Answer 15

Est. of the Social Security Act provides benefits to EEs who have lost their employment for certain reasons.

Question 16

Consumer Credit Protection Act

Answer 16

When EE face certain debts. ER may be legally required to withhold money from their paychecks to satisfy those debts.

Question 17

Competitive wages

Answer 17

Comp provided is similar to that which is being provided to similarly skilled people doing work in the same geographic region.

Question 18

Incentives to encourage higher performance levels

Answer 18

• Commissions for salesppl
• Annual bonuses for those who accomplish specific goals
• Stock options (the right to purchase company stock in the future)

Question 19

Raises awarded based on criteria

Answer 19

• Annual, given across-the-board to all EEs
• Annual, With the amount each inidividual receives pegged to perf
• Individual raise awarded as mgrs see appropriate to individs demonstrating superior performance (merit)
• Periodic individual raises with tenure