Preface
1. Introduction to Benefits
The Plan Sponsor's Dilemma
Employers and the Business Strategy
Business Strategy Illustration
2. Human Resource Economics, Principles, and Actuarial Concepts Applicable to Benefits
Monetary Value of Benefits
3. Lifecycle Events
Benefits Respond to Lifecycle Events
Caring for Sick Dependents
Separation from Employment
Cultural and Global Perspective
4. Retirement Plans--Evolution and Design
Factors Affecting Retirement Plan Design
Financing of Retirement Plans
Basic Design Features of a Defined Benefit Plan
Defined Contribution Plans
Evolution and the Small Employer
5. Pension Plans for Small Employers and Retirement Planning
Evolution Reaches the Small Employer and the Self-Employed
Individual Retirement Account (IRA)
The Savings Incentive Match Plan for Employees of Small Employers (SIMPLE)
Simplified Employee Pension (SEP)
Contemporary Issues in Retirement
Retirement Planning--Will Your Employee Have Enough to Retire?
6. Health Care
Parties and Interests Involved in Health Care
Employer-Sponsored Plans--Taxes, Financing, and Market Factors
Evolution of Health Care Plan Design--Some Principles
The Benefits Model--Health Care
Design Features of the Major Medical or Indemnity Plan
Bundling and Unbundling Plans
7. The Evolution of Health Care Plan Designs
Preferred Provider Organization (PPO)--Discounts and Volume
Point-of-Service Plan (POS) Plan--Management of Referrals
Health Maintenance Organization (HMO)--More Managed Utilization and Care
Direct Contracting and Capitation
Consumer-Driven Health Care
Choices of Plans--What Should the Employer Sponsor Offer?
Third-Party Administrator (TPA) Selection
8. Improving Access to Quality Health Care--Do We Need Reform?
Underlying Problems of Cost and Affordability--Value and the Lack of Quality
Stating the Underlying Problem--High Costs of Health Care
Health Care Investment and Efficacy
Inappropriate Care and Clinical Quality Measurements
Our Culture, System, and Prices
What Are Some Possible Solutions?
New Health Care Delivery and Financing Systems--Health Care Reform
Some Perspective on the Bureaucratic Barriers to Health Care Reform
9. Benefit Legal Compliance: Employee Retirement Income and Security Act (ERISA), Internal Revenue Code (IRC), and the Pension Protection Act of 2006 (PPA)
The Basic Provisions of ERISA
Tax Treatment of Retirement Plans
Nonalienation of Benefits
Cash Balance Plans--Legal
ERISA and IRC Enforcement
Insuring Benefits When a Plan Is Terminated
10. Employee Benefits and Metrics
A New Perspective--Benefits Are Not Just Costs
The Metrics Template for Benefits
The Data and Metrics Toolbox--Surveys and Assessments
Toolbox--Efficiency, Costs, and Productivity
Toolbox--Data Sources for Measurement--Human Resource Management Systems (HRMS)
Sound Measurement--Validity, Reliability, and Practicality
Measuring the Financial Value of Benefit Plans--Using Capital Budgeting Analysis
Data, Metrics, and Retirement Plans--Some Examples
Health Care and Measurement--Plan Design
Evaluating Providers and Their Clinical Outcomes--Sponsors' Efforts
11. Equity Benefits
Retirement Plans and Stock
Stock Appreciation Rights
Some Issues Pertaining to Equity Awards
Performance-Based Equity Awards
Does Equity Compensation Work?
12. Government-Sponsored and Mandated Benefits
Social Security Retirement Benefit (USA)
Some Social Security Economic and Policy Issues
Perspectives on Social Security Reform
Health Care After Retirement--Medicare
Medicare--Some Important Economic and Policy Issues
Mandated Benefits (COBRA, HIPAA, FMLA, USERRA)
13. Global Benefits
Some General Principles and Features of European Health Systems
Financing of Health Care--European Countries
Current Problems and Issues in European Countries
Some Perspectives on Costs, Long-Term Health, and Reform
China's Health Care System
Some Conclusions--The United States and Other Countries
Social Security--Providing and Insuring Retirement Income
Some General Retirement Approaches in European and Other OECD Countries
China and Social Security Retirement Income
Chile and the Personal Account
Some Perspectives on Social Security Reform
Competitive Labor Costs and Benefits
Expatriates and Global Benefits--Taking Your Business Abroad
Conclusion and Perspective--The Global Workplace
14. Collective Bargaining and Benefits
General Obligation to Provide New Benefits Pursuant to Collective Bargaining
What Will Happen to the Current Plans?
Must the Company Bargain Over an Entry Into a Joint Trust?
Joint Trusts--Issues and Challenges
MPPAA--What Happens if the Employer Closes His Operation and Leaves the Joint Trust?
What if the Company and the Union Cannot Agree on Benefits?
What Happens if the Contract Expires and There Is No New Agreement?
What Happens if the Contract Expires and the Employees Go on Strike?
Bargaining and Retiree Health Care
Conclusion and Perspective
15. Life and Disability Insurance, Pay for Time Not Worked
Pay for Time Not Worked--Sick Days, Vacation, and Holidays
16. Convenience and Accommodation Benefits, Benefits Administration
Convenience and Voluntary Benefits
Making the Benefits Fit the Workplace
Employee Assistance Plan (EAP)
Company-Sponsored Educational Benefits
Administration of Employer-Sponsored Benefits
Outsourcing Administration
Information Systems for Benefits
Plan Optimization and Communication
Index
About the Author