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PSY 102 (450)

CHAPTER 13.doc

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PSY 102
Kristin Vickers

CHAPTER 13EMPLOYEE BENEFITS AND SERVICESWHY ARE BENEFITS IMPORTANTHelp attract and retain the right people to achieve business objectivesModest salary increasesHealth care benefits becoming increasingly important aging workforceGOVERNMENTSPONSORED BENEFITSSocial programs to protect citizens when they cannot earn income employers and employees fund for plan PLUS tax revenuesEmployment InsuranceFederal program that provides income benefits if a person is unable to work through no fault of their own WITHOUT JUST CAUSETermination resignation illness maternalparental leave compassionate care leaveEligible qualifying period minimumof hours for a minimumof weeksWaiting period for benefits to begin Must demonstrate they are actively seeking workCan get part time job that earns up to 25 of benefitEmployee contributionspayroll deductions and employers 14times employee contributionSupplemental unemployment benefit SUB plan agreement between an employer and the employees for a plan that enables employee eligible for EIT to receive additional benefits from a SUB fund created by employer helps maintain standard of living
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