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19 Cards in this Set
- Front
- Back
Lily Ledbetter Fair Pay Act |
Statute of limitations on pay descrimination lawsuits resets as each alleged discriminatory Paycheck is issued |
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What Federal law sets minimum wage standards to ensure that employee benefit plans are established and maintained in a fair manner? |
Employment Retirement Income Security Act (ERISA) |
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The Portal to Portal Act of 1947 |
Amended the FLSA by further defining how employees are paid for hours worked. As long as an employee is engaged in activities that benefit the employer they should be paid for time spent |
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What organizations must comply with the FLSA? |
Public and private employers that handle at least $500,000 in business annually |
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Stock Option |
Provides the executive with the right to purchase company stock at a predetermined price |
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Total Rewards Statement |
A personalized document that provides the overall value of tangible rewards |
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Typically a total rewards statement would include what key elements? |
The value of wages, benefits, allowances, holidays, and voluntary benefits. |
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ACA requires applicable large employers that offer health insurance to provide employees with which form? |
1095-C form |
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Fiduciary responsibility |
Discretionary decision making over a group's health plan |
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What is the final step in the process of conducting a benefit needs assessment? |
Gap analysis- involves comparing the organizational needs, employee needs, and existing benefits |
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What is a mandatory feature of a high deductible health plan? |
Health Savings Account (HSA) |
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This law prohibits price fixing among employers |
Sherman Antitrust Act of 1890 |
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Compensation and benefits survey data results are usually organized in what way? |
Industries and geographical regions |
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Market Lag (pay philosophy) |
Focusing on the 25th percentile of the market |
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Lag lead compensation philosophy |
When an org focuses on the 25th percentile of the market for the beginning of the year, and then catches up to the 75th percentile in the second half of the year |
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When paying workers compensation claim, what is decided before paying a monetary value? |
Seriousness of the injury |
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Under worker's compensation plans, who assumes all costs of injuries regardless of who is to blame? |
Employers |
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What is hoteling? |
Having telecommuters reserve an office or workstation for their in office days instead of assigning them a permanent workspace |
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Payrolling allows an organization to: |
Use an agency for people they want to hire. And the agency provides payroll and tax services |