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Discuss the concept of social insurance

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Reference no: EM132927817

1. Discuss the concept of social insurance and how it is supported by various Social Security programs (including unemployment insurance) and by workers' compensation programs.

2. Describe how employee benefits fit into the total compensation function.

3. Which of the following is FALSE concerning the individual accounts of a defined contribution plan like a 401(k)?

A) The employer is not required to match your contributions.

B) Contributions are usually expressed as a percentage of pay.

C) Forfeitures of non-vested employer contributions are a source of funds for the employer to use.

D) The employer must protect the participants from investment losses.

4.1. Which of the following is NOT one of the common methods for allocating funds from a profit-sharing pool?

A) Equal payments to all employees

B) Proportional payments based on annual salary

C) Proportional payments based on the employee's contribution to making the profit

D) Proportional payments based on management position/level

Reference no: EM132927817

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