Human Resources Chapter 11

Front 1

Flexible Benefits Plans (cafeteria plans)

Back 1

Benefits plans that enable individual employees to choose the benefits that are best suited to their particular needs

Front 2

Canada and Quebec Pension Plans (CPP/QPP)

Back 2

-Cover all employees between ages 18 and 70
Read pages 448-449

Front 3

Employment Insurance (EI)

Back 3

-Payable to claimants who are unemployed and are actively seeking employment
page 449

Front 4

Workers Compensation Insurance

Back 4

Employers share the financial liability among themselves.
Payment to injured workers is based on lost earnings, and is guaranteed even if the employer is bankrupt.
“Fault” is irrelevant. Both employee and employer give up the right to sue.

Front 5

Discretionary Benefits

Back 5

Flexible benefits (cafeteria plans)
Sick leave (disability plans)
Pensions (beyond CPP/QPP coverage)

Front 6

Severance Pay

Back 6

A lump-sum payment given to terminated employees by an employer at the time of an employer-initiated termination

Front 7

Silver Handshake

Back 7

An early retirement incentive in the form of increased pension benefits for several years or a cash bonus

Front 8

Contributory plan

Back 8

Pension plan in which contributions are made jointly by employes and employers

Front 9

Noncontributory plan

Back 9

Pension Plan in which contributions are made solely by the employer

Front 10

Defined-benefit plan

Back 10

Pension Plan in which the amount an employee is to receive on retirement is specifically set forth

Front 11

Defined- contribution plan

Back 11

Pension plan that established the basis on which an employer will contribute to the pension fun

Front 12

Vesting

Back 12

Guarantee of accrued benefits to participants at retirement age, regardless of their employment status at the time

Front 13

Employee assistance programs (EAPs)

Back 13

Services provided by employers to help workers cope with a wide variety of problem that interfere with the way they perform their jobs

Front 14

Elder Care

Back 14

Care provided to an elderly relative by an employee who remains actively at work.