Explain how companies use benefits as a competitive advantage. LO2 Identify four key benefit design considerations. LO3 Specify three legally required benefits. LO4 Discuss the trends in retirement plans and compare defined benefit and defined contribution plans. LO5 Explain the importance of managing the costs of health benefits and identify some methods of doing so. LO6 Describe the growth of financial, family-oriented, and time-off benefits and their importance to employees