Question 1: According to Michael Weddell of Willis Towers Watson, to whom are employers prohibited from giving preferential treatment to when offering their workforce ERISA qualified defined contribution retirement programs?

-Men

-Managers

-Employees with over twenty years of experience

-Highly compensated employees

-Professionals

Question 2: Which of the following would not be a required topic of benefits negotiation between employers and unions if raised by either party?

-Health Insurance

-Retiree Benefits

-Pension and Retirement Plans

-Short Term Disability Pay

-Paid Time Off

Question 3: According to Dan Davis of Metlife, what is critical for employers to execute and evaluate a total rewards strategy?

-Providing proper training to managers and employees about the composition and cost of employee benefits

-Shift employee benefit costs as much as possible to make it the responsibility of the employee

-Make line management primarily responsible for communication about employee benefits since they have most day to day interaction with employees

-Restrict employee benefits choices as much as possible to reduce administrative costs

-Focus on more unusual benefits like free coffee, unlimited vacation and gym membership since younger employees are more interested in more "hip" benefits rather than traditional benefits like health care or retirement programs

Question 4: According to Michael Weddell of Willis Towers Watson and our lecture a defined contribution plan has all but which one of the following features?

-Contributions can be made to the pension plan by both the employer and employee

-Individual investment skills are key to the success of a defined contribution plan

-Provides a specific benefit payment over a prescribed schedule that can be easily determined

-Sets a top employee contribution level

-Contains individual accounts for employees into which accounts are made

Question 5: A 403(B) is one example of a ________

-Defined contribution plan

-Nonqualified stock bonus plan

-Employee stock ownership plan

-Defined benefit plan

-Hybrid pension plan

Question 6: Vesting refers to which of the following:

-An employer's right to have part of his/her salary contributed to a pension

-Management of funds in the employee's best interest by a third party

-Making funds available for pension liabilities as they occur

-An employee's right to some or all of the company's contributions to a retirement plan

-The portability of an employee's pension to another employer

Question 7: According to Jean Wright of Google, what work practice has Google adopted during the COVID 19 pandemic with regard to their workforce?

-Require that Google's workforce continue their work on site at Google building locations to encourage teamwork and comradery among Google employees

-Google employees are working so much at home these days

-Provide discounts for hotels for Google employees who are traveling internationally

-Provided each Google employee $1,000 to make their home workspace more comfortable

-Replaced defined contribution plans with a traditional defined benefit plan

Question 8: The main purpose organizations conduct benefit surveys of peer firms is to:

-Encourage employees to recognize the value of their benefits

-Acquaint competitors with your organization

-Determine if employees should completely finance all their benefits

-Demonstrate to employees that the organization is seeking to add some benefits

-Assist the organization in developing a competitive benefit package to attract and retain employees

Question 9: Which of the following is a purpose of unemployment insurance programs?

-Ensure that every employee who has been laid off or voluntarily quits receives some compensation

-Improve safety conditions at work

-Help maximize job matching between those seeking work and available employment opportunities

-Provide vocational and occupational rehabilitation to aid an injured worker's return to employment

-All of the above are purposes of unemployment insurance programs