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22download_doc-22.php - L293 FinancialProtection...

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L293 (4/22/2009) Financial Protection Protection of wages, pensions, and benefits  o Unemployment Compensation o Social Security o ERISA o Fair Labor Standards Act Unemployment Compensation  o Covering discharged workers o Funded by federal and state unemployment compensation taxes paid by  employers o Ineligible: Workers who voluntarily leave without good cause; Are fired for misconduct; Fail to actively seek new work; or  Refuse other (comparable) work  Social Security o A social insurance program funded through dedicated payroll taxes  o Encompasses four main social welfare programs: Retirement, disability, survivorship, and death  Fair Labor Standards Act o FLSA regulates  wages and hours  by entitling covered employees to: Specified minimum wage, and  Time-and-a-half rate for work exceeding 40 hours per week o Exemptions: executive, administrative, and professional personnel E.g.,  lawyers, CEOs o Also prohibits oppressive child labor Collective Bargaining and Union Activity o Until the National Labor Relations Act of 1935 (NLRA), U.S. workers attempting  to organize and obtain better working conditions and pay often were treated like  criminals Union Activity o NLRA gave employees the  right to organize  by enabling them to form, join, and  assist labor organizations and to  bargain collectively  through their own  representatives o The Act also prohibited employers from engaging in certain  unfair labor practices  and established the National Labor Relations Board (NLRB) Unfair labor practices by  employers
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o Pursuant to the NLRA, unions may protest against an employer that: Interferes with an employee’s right to form, join, and assist a labor union;
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