Chapter 12: Designing Indirect Pay Plans

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Western University
Management and Organizational Studies
Management and Organizational Studies 3342A/B
Jody Merritt

MOS3342 Pg 428458 Designing Indirect Pay PlansCS Benefits Are Radical HereRadical Entertainment Emps have a variety of unique benefitsProvided breakfast 10 minute time outs inhouse movie theatre etc 429 Types of Emp Benefits and Services See Compensation Notebook 121 Pg 429Life Insurance Most common benefit offered in privatesector firms with at least 10 emps 65 Supplemental medical 64 Dental 60 Group RRSPs 30 formal Pension plan 24TrendsUpgroup RRSPs life insuranceDown formal pension plans supplemental medical430 Mandatory Benefits ProvincialFederal govt requires employers to contribute toward a number of govtprovided emp benefits 1 CPPQPP The CanadaQuebec Pensions Plan 2 Employment Insurance3 Workmans CompMinimum vacation time430Retirement IncomeAll citizens ensured Old Age Security pays a small fixed pension for low income pensioners 2008 was the worst year ever for pension funds value dropped 159
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