1 / 13

Overview of Legally Required Benefits: Protecting Workers and Their Families

This chapter provides a comprehensive overview of legally required benefits designed to protect workers from injury, job loss, and health issues while supporting their dependents. Key components include Social Security, Medicare, unemployment insurance, and workers' compensation. The benefits ensure a level playing field for employees, detailing eligibility and the significance of programs such as Old Age, Survivor, and Disability Insurance. Additionally, it discusses Family Medical Leave Act provisions for job protection during personal crises. Understanding these benefits is crucial for both employers and employees in navigating workforce requirements.

winola
Télécharger la présentation

Overview of Legally Required Benefits: Protecting Workers and Their Families

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Legally Required Benefits Chapter #12

  2. Overview: Purpose • To protect workers from • Injury • Job loss • Health • Dependents • Idea is the level the playing field

  3. Components of legally required Benefits • Social Security Act 1935 • Three programs with in this act • Medicare • Unemployment insurance • Supplemental unemployment benefits • Old Age Survivor and Disability Insurance • Old age benefits • Quarters of coverage • Fully insured • Survivor benefits

  4. Unemployment Benefits • Thru no fault of ee • State by state • Base period applies • First four quarters of last calendar quarters • Must be actively seeking work • Not refuse offer of reasonable work • Labor disputes do no9t qualify individual.

  5. Supplemental Unemployment Benefits • Cyclical layoffs most common • After 9/11…ees given additional 13 weeks • FUTA • Levies taxes on ers *(all but Alaska) • This money is invested by Fed 5.4% • The more you fired the higher you tax • experience rating system

  6. Old Age, Survivor and Disability • Retirement income • Based on how much you have earned • Based on quarters of coverage • Fully insured after 40 quarters of coverage • Survivors insurance • Wives , children under 18, parent who has been dependent on ee • Disability insurance • Conditions must be expected to last 1 year • Must have worked a certain amount of time

  7. Medicare • 65 or older • Part A • Part B • Medigap • Part C • Part D

  8. FICA • Tax based on payroll • Increases with CPI • 7.5% er and ee (2007) • 15.3 % individual contribution • Pay as you go..younger workers are supporting older workers benefits (takes 5) • After 2020 rapid decline in amounts paid • Thanks alot

  9. Workers Compensation • Cover ee related accidents/illness • State by state • Claims • Occupational disease • Death claims • Death Benefits • Employer non compliance • Dual Capacity

  10. Employer defenses • Pre exiting conditions • Employee negligence • Employee misconduct • Safety violations

  11. Financing Comp Programs • Rate making service organizations • Rating manuals • Second injury funds • Er and ee tax obligations

  12. Family Medical Leave Act 1993 • Aims to provide job protection • Guarantee leaves • Child birth • Elder care • Sickness • Adoption and foster care • 12 unpaid work weeks

  13. Designing and Planning Benefits Programs • Who receives it? • Retirees included? • Who to deny benefits to • Financing benefits • Cost containment • Communication

More Related