Compensation And Benefits

Front 1

Lily Ledbetter Fair Pay Act

Back 1

Statute of limitations on pay descrimination lawsuits resets as each alleged discriminatory Paycheck is issued

Front 2

What Federal law sets minimum wage standards to ensure that employee benefit plans are established and maintained in a fair manner?

Back 2

Employment Retirement Income Security Act (ERISA)

Front 3

The Portal to Portal Act of 1947

Back 3

Amended the FLSA by further defining how employees are paid for hours worked. As long as an employee is engaged in activities that benefit the employer they should be paid for time spent

Front 4

What organizations must comply with the FLSA?

Back 4

Public and private employers that handle at least $500,000 in business annually

Front 5

Stock Option

Back 5

Provides the executive with the right to purchase company stock at a predetermined price

Front 6

Total Rewards Statement

Back 6

A personalized document that provides the overall value of tangible rewards

Front 7

Typically a total rewards statement would include what key elements?

Back 7

The value of wages, benefits, allowances, holidays, and voluntary benefits.

Front 8

ACA requires applicable large employers that offer health insurance to provide employees with which form?

Back 8

1095-C form

Front 9

Fiduciary responsibility

Back 9

Discretionary decision making over a group's health plan

Front 10

What is the final step in the process of conducting a benefit needs assessment?

Back 10

Gap analysis- involves comparing the organizational needs, employee needs, and existing benefits

Front 11

What is a mandatory feature of a high deductible health plan?

Back 11

Health Savings Account (HSA)

Front 12

This law prohibits price fixing among employers

Back 12

Sherman Antitrust Act of 1890

Front 13

Compensation and benefits survey data results are usually organized in what way?

Back 13

Industries and geographical regions

Front 14

Market Lag (pay philosophy)

Back 14

Focusing on the 25th percentile of the market

Front 15

Lag lead compensation philosophy

Back 15

When an org focuses on the 25th percentile of the market for the beginning of the year, and then catches up to the 75th percentile in the second half of the year

Front 16

When paying workers compensation claim, what is decided before paying a monetary value?

Back 16

Seriousness of the injury

Front 17

Under worker's compensation plans, who assumes all costs of injuries regardless of who is to blame?

Back 17

Employers

Front 18

What is hoteling?

Back 18

Having telecommuters reserve an office or workstation for their in office days instead of assigning them a permanent workspace

Front 19

Payrolling allows an organization to:

Back 19

Use an agency for people they want to hire. And the agency provides payroll and tax services