Unit 9 Flashcards
(12 cards)
Scanlon plan
A gain-sharing plan that creates mechanisms for employee participation in developing productivity improvements and that shares the financial benefits of those improvements with the employee group that generated them
Rucker plan
A gain-sharing plan similar to the Scanlon plan but expresses labour costs as a percentage of value added
Improshare
A gain-sharing plan that focuses on labour hours per unit if output and that does not usually include worker participation
Family of measures plan
A gain-sharing plan that uses a variety of measures to determine the extent to which a bonus payout is justified
Mandatory benefits
CPP, EI, WSBC, EHT
Retirement Income
Defined benefit-set monthly payment based on a proportion of an employee’s pay at retirement
Defined contribution-payment based on accrued value of employee employee contributions
Hybrid pension plan
Combines features of the defined benefit and defined contribution plan
Health care spending account
A tax-favoured employee benefit that allows employees to use employer provided health care spending credits to purchase a wide array of health card services
Pay for time not worked
Employee benefit that covers a wide array of different types of employee absences from work
Supplemental unemployment benefits (SUBs)
An employer provided benefit that extends government provided unemployment benefits
Fixed benefit system
Employee benefit plan that provides a standard set of benefits to all who are covered by the plan
Flexible benefit plan
Employee benefit plan that allows employees to allocate employer provided credits to purchase the benefits they value
