Oct%2018%20Benefits.pptx - What Can Employers Do to Change This Think Pair Share Based on today’s reading what are three things employers can do to

Oct%2018%20Benefits.pptx - What Can Employers Do to Change...

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What Can Employers Do to Change This? Think Pair Share: Based on today’s reading, what are three things employers can do to address the gender pay gap?
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Compensation Issues: Benefits
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Questions for today: What kinds of benefits are mandatory, customary and optional? What is the difference between defined benefit and defined contribution retirement plans? Which benefits do employees want the most?
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What Is the Purpose of Benefits?
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Types of Benefits - Mandatory Social Security : provides retirement income to qualified workers and their spouses after working a certain number of hours Unemployment insurance : provides temporary income during periods of involuntary unemployment Workers’ compensation : pays for medical costs and sometimes time off if an employee suffers a job-related sickness or accident, and survivor benefits in the case of an employee’s death COBRA health coverage : provides a continuation of group health coverage for employees and qualified beneficiaries that might otherwise be terminated when an employee experiences a qualifying event 5
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