Pensions have changed as workplace structure changed. A lot of us work as independent contractors. What is our solution to a pension outside of employment?
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- How do the Defined contribution pension plans becoming increasingly popular vehicles for employers?Can the owner of a small business receive unemployment compensation? Explain.Apart from the benefits required by legislation, what benefit can a company expect from offering additional post-employment benefits to its employees? Share your opinion.
- Employers often use fringe benefits as a way to attract and keep great employees and to provide compensation for employees who may already have a high salary. what were some of the fringe benefits that your employer provided? Would these benefits be taxable or not taxable? If your past employers did not offer fringe benefits, what would you have liked to see them offer?In our discussions on pensions, we learned about two different types of pension plans – Defined Contribution Plans and Defined Benefit Plans. Explain the differences between these plans. In your discussion, identify the impact each has on the company and the employee.Explain he basic arrangement in a worker’s compensation scheme. What is meant by ‘exclusive remedy” as that term applies to workers compensation? Why was there a need for workers compensation statutes in the United States? What types of monetary benefits are available to injured employees under workers compensation statutes? When did workers compensation statutes originate in the United States? What is a burial benefit? What types of employees are covered by workers compensation statutes? What types of workers are not covered by workers compensation statutes? What is the income benefit under workers compensation statutes? Prior to the enactment of workers compensation statutes, what defenses would employers use in order to avoid paying for employee injuries?
- You are a small employer, and are considering adding a retirement plan for you and your employees, which plan(s) would you consider as candidates for this goal? SEPs, SIMPLE Plans, Keogh Plans? Why?Defined contribution plans are gaining in popularity because: a) They remove the burden of payment from the employer b) They qualify retirees for special Social Security payments c) The benefits are tax free d) They routinely produce higher payouts to employeesWhich of the following statements regarding workers’ compensation insurance is true? Group of answer choices a. The federal government is responsible for setting workers’ compensation legislation and regulating the program. b. Workers’ compensation insurance includes only rehabilitation expenses. c. Employees are required to bear half of the entire cost of workers’ compensation insurance. d. Workers’ compensation insurance compensates workers who are injured on the job or become ill through work-related causes. e. Employers who file the most claims pay the lowest premiums on the insurance coverage.
- Why is it necessary for you to contribute to a pension? Why is there a need for persons to contribute more to the National Insurance Scheme? In your opinion, what are the important reasons for a country to increase the normal/minimum retirement age?Why is pension plan underfunding not a concern in your present employment?There are strikes in Ghana, which bring financial suffering to both employers and workers. Would you expect a commercial insurer to provide insurance protection to either the workers or the employers to cover losses resulting from these strikes?
