MANA 3320 1st Edition Lecture 17 Outline of Last Lecture I 1099 Worker vs W 2 Employee II Issue of Wage Rate Compensation III 3 Economic Systems IV Types of Incentive Plans V Why Incentive Plans Fail Outline of Current Lecture I Flexible Benefits Plan II ERISA Employee Retirement Insurance Security Act III 6 Employee Benefits required by Law Current Lecture CH 11 Employee Benefits Flexible benefits plan Cafeteria Plans o Benefit plans that enable individual employees to choose the benefits that are best suited to their particular needs A basic or core benefits package of life and health insurance sick leave and vacation ensures that employees have a minimum level of coverage Employees use credits to buy whatever other benefits they need ERISA o Employee Retirement Insurance Security Act o Made companies fully fund their retirement plans for employees 6 Employee benefits required by law o 1 Social Security Insurance National retirement program 1935 Only people who contribute to social security can collect social security when they retire These notes represent a detailed interpretation of the professor s lecture GradeBuddy is best used as a supplement to your own notes not as a substitute First amendment women who didn t contribute could collect 60 of social security Can only collect at 100 if you meet the 40 quarters rule Amended again only can get 100 of SS until you re 67 might raise it to 70 o 2 Unemployment insurance o 3 Workers compensation insurance o 4 COBRA insurance o 5 Benefits Provided by Patient Protection and Affordable Care Act PPACA o 6 Benefits Provided under the Family and Medical Leave Act FMLA
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