B1 Regulatory Environments for Benefits Programs Question and Answers

It is a precise estimate of what the future holds for the organization.

It is done primarily by using historical revenue and expense data.

It is done primarily by evaluating market conditions and economic indicators.

It uses internal and external factors to help answer questions about business expectations for the future.

Defined benefit plan

Death benefits

Defined contribution plan

Vision plan   

Deductible

Coinsurance

Coordination of benefits

Out-of-pocket expenses   

Department of Labor

National Labor Relations Board

Office of Federal Contract Compliance Programs

Equal Employment Opportunity Commission

Earnings

Shares

Market capitalization

Increased market value and reinvested dividends paid

Production worker

Account executive

IT contractor

HR Director

They aren’t. Managers are concerned about their compensation also.

They are also responsible for merit increases, incentives and hiring so they have greater information needs.

They tend to have more influence, so it is important to resolve any concerns they have quickly and efficiently.

They have more duties and responsibilities and are less likely to have the time to discuss compensation issues.

Variable costs decrease

Fixed costs decrease

Variable costs increase and consume a higher percent of revenue

Fixed costs remain the same and consume a lower percent of revenue

Keep them brief

Use multiple media

Include all details related to the issue

Leave backup data out of the presentation so there is time to develop an effective response to unexpected questions

To control annual fixed costs from base pay adjustments

To elevate employees who are below the midpoint in the range

To reward employees under short-term incentive plans

To make up for benefits not provided by the organization