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5 Written questions

5 Matching questions

  1. Private-letter rulings
  2. Cash balance plan
  3. Merit pay
  4. Health maintenance organizations (HMOs)
  5. Pension Protection Act (PPA)
  1. a Situation where an individual's performance is the basis for either the amount or timing of pay increases; also called performance-based pay
  2. b Rulings issued by the IRS to specific taxpayers or organizations that request an interpretation of the law
  3. c Act that changes the laws that affect defined benefit plans, defined contribution plans, individual retirement accounts, and other issues related to retirement planning
  4. d Form of defined benefit plan that defines the promised benefit in terms of a hypothetical account balance and features benefit portability
  5. e Form of health care that provides services for a fixed period on a prepaid basis

5 Multiple choice questions

  1. Any fixed, recurring period of 168 hours (7 days times 24 hours = 168 hours).
  2. Imposed a mandatory 20% federal income tax withholding requirement on most qualified retirement plan proceeds that a recipient does not roll over into another qualified retirement plan or individual retirement account
  3. Set up by ERISA to insure payment of benefits in the event that a private-sector defined benefit pension plan terminates with insufficient funds to pay the benefits
  4. Concept that states that jobs requiring comparable skills, effort, responsibility, and working conditions filled primarily by women should have the same job classification and salary as similar jobs filled by men
  5. Provides each incumbent of a job with the same rate of pay, regardless of performance or seniority; also known as single-rate pay

5 True/False questions

  1. PerquisitesSituation where an individual's performance is the basis for either the amount or timing of pay increases; also called performance-based pay

          

  2. Health insurance purchasing cooperative (HIPC)Form of health care that provides services for a fixed period on a prepaid basis

          

  3. Excess deferral plansNonqualified deferred compensation plans that provide benefits to selected management or highly compensated employees beyond Section 401 or 415 limitations

          

  4. Uniformed Services Employment and Reemployment Rights Act (USERRA)Determined by an array of issues such as business ownership and/or salary

          

  5. Family and Medical Leave Act (FMLA)Act that prohibits wage discrimination by requiring equal pay for equal work