SMO416 Lecture Notes - Lecture 12: Defined Contribution Plan, Dental Insurance, Disability Insurance
22 Nov 2018
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Chapter 12 designing indirect pay plans: federal and provincial governments require employers to contribute toward government-provided employee benefits, employers must participate in the following mandatory benefits on behalf of their employees: Workers" compensation (which covers treatment expenses and other costs for workers who are injured on the job) Retirement income: defined benefit plans, provide retirement income based on a proportion of the employee"s pay at the time of retirement, defined contribution plans. Health benefits: supplemental health insurance, disability insurance, dental insurance, health care spending accounts. Supplemental health insurance: canadians enjoy a large number of government-sponsored medical benefits under the system generally known as medicare . In the united states, where government-sponsored universal medical coverage does not exist, employers are expected to bear the cost of medical insurance. This cost can be staggering in the united states: disability insurance. Long-term disability insurance for employees to cover disabilities arising from non-work-related causes.
