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Employee Benefits and Retirement Plans

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Employees Benefits Questions:

1. ERISA, EGTRRA, HIPAA, Social Security Act, etc. Please be sure to find specific details on these laws and the specific benefit plans that they are likely to apply to.

2. Retirement plans including defined benefit plans, defined contribution plans, and cash balance plans. You should be able to make recommendations for a retirement plan including retirement plan objectives based upon a scenario.

3. Review paid leave programs and the various accommodation and enhancement benefits.

4. Explain specific benefit plan objectives. Explain the needs and the basics based upon the size of a given company

5. Benefits of communication plans and the benefits of such a plan.

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Employee retirement income security act (ERISA) was developed in the year 1974 to address issues arising from retirement such as pension plans. This act is put in place to protect the benefits of individuals working within the private sector. This act supersedes state laws especially when it comes to some issues however, the state laws is still above the act regarding some issues such as state insurance, and property settlement orders among others. ERISA has a set of standards which have to be complied to with regards to pension plans such as the individual who is covered, the amount of time that an individual is expected to work some that he or she could be entitled to pension, and the amount of funding which has to be set aside annually to save for a future pension pay (Purcell, & Staman 2008).

Economic Growth and Tax Relief Reconciliation Act (EGTRRA) is an act which is substantially put in place to govern income tax cuts and was set up in the year 2001 and favored by the former United States president, Bush. This act provides an alternative minimum tax relief for individuals. Moreover, it also participates in the creation of an annual payroll tax while enhancing write offs for business equipment. This act also plays part in resolving uncertainties related to tax, especially the current estate tax uncertainty for the short term (the new tax law 2011).

Health Insurance Portability and Accountability act (HIPAA) was passed with an aim of protecting them from the complexities which may arise in the health care industry. The act was passed in the year 1996. The complexities to be addressed ...

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Retirement plans and employee benefits


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Chapter questions from The Case Approach to Financial Planning by John Grable. ISBN: 978-1-936362-99-8

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