CEBS GBA 1: Assignment |32 Questions with 100% Correct Answers | verified

Broadview of employee benefits - any form of compensation other than dirext wages paid to employees. includes gov required benefits and private plans. employers share of soc security tax, paid vacation and pension plans. narrow view of employee benefits - any type of plan sponsored or initiated unilaterally or jointly by employers and employees engaged in provideng benefits that result from the employment relationship that are not underwritten or paid directly by the gov how many categories of benefits fall under the broad view of employee benefits? - 5 Name the 5 categories of benefits fall under the broad view of employee benefits - 1. legally required benefits 2. Payments for time not worked 3. employers share of medical and medically related benegits 4. employers share of retirement and savings plan payments 5. misc benefits like employee discounts, severance pay and education expenditures. why do firms have established employee benefit plans - 1. to attract top talent 2. retain employees 3. belief that good plans will foster efficiency , productivity and better morale describe the 1948 national labor relations board ruling against Inland Steel - the duty to bargain in good faith over wages also included insurance and fringes such as pension benefits. describe the WW Cross and Co case - NLRB rules that wages included a health and accident plan explain the Taft Hartley Act - related to employee benefit planning. it is the framework for good faith collective bargaining over wages, hours, conditions and terms of employment and employee benefits