The First US Social Security Act

The First Retirement Plan Of The United States Essay
The first retirement plan created in the United States, is one that the majority of us are familiar, the
Social Security Act, signed under law in 1935. Up until 1939, Social Security only paid retirement
benefits to primary workers, which for the most part were men. Age 65 was chosen as the retirement
age because individuals who survived past childhood were likely to live past 65. However, not
everyone benefited from such assistance, even after age 65–agricultural and domestic workers were
excluded from coverage (DeWitt, 2010). The excluded group consisted of roughly half of workers
contributing to the economy, which the majority were African Americans. According to Larry
DeWitt, a public historian from the Social Security Administration, exclusion of such groups was
due to tax–collection procedures and not due to racial bias. Although it may seem as though Social
Security was meant to be the only form of retirement plan for qualified retirees, it was not. During
such time, many individuals strongly depended on their savings as well as on their family. Today,
the certainty of receiving sufficient benefits solely from Social Security for a quality standard of
living after retirement is indefinite. Baby boomers–individuals born post World War II between
1946 and 1964–are beginning to claim their benefits, and given what I have learned in class, the
number of individuals entering the workforce is inadequate to sustain such a large population, thus
such generation will consume
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Us Dept of Labor
U.S. Dept. of Labor Case Study Bobby Jones HRM 533 December 2, 2012 Abstract Career One
Stop is an online tool sponsored by the U.S. Department of Labor. This online tool can be utilized as
a pathway to success. This tool gives useful information via online to help job seekers, students,
businesses and career professionals. Some tools that can be utilized per the website are Wages and
Salaries, Unemployment Insurance Information, Pay for Education and Training and Benefits. This
site is truly a One Stop Center because it has information for everyone the employee, the job seeker
and the company (Career One Stop ). Keywords: Tool, job seekers, businesses pathway Describe the
major features of this website and how each can be used ... Show more content on Helpwriting.net ...
FMLA leave is not considered a qualifying event under Cobra. A Cobra qualifying event can occur
in an instance when an employer's obligation to maintain health benefits under FMLA cease. An
example of this is when an employee has intent of not returning to work. Further information can be
provided by going to your nearest Wage and Hour Office or through the telephone directory under
U.S Government and U.S. Department of Labor (Frequently Asked Questions Cobra Continuation
Health Coverage). Explain how employers could verify that their employee benefits comply with all
federal laws by using this resource. Employers can use the reference material found on the
Department of Labor website called Find It By Audience–Employer to verify that their employee
benefits comply with all federal laws. The first place an employer would want to start in order to
understand which laws affect them as an employer is compliance assistance information and
resources. Under the website subheading, Help Navigating Department of Labor Laws and
Regulation it gives a general definition of compliance assistance. It states, that compliance
assistance is an important part of the Department's effort to protect the wages, health benefits,
retirement security, employment rights, safety, and health of American's workforce

Employee Retirement Income Security Act ( Erisa ) And The...
Under the Employee Retirement Income Security Act (ERISA) and the Mental Health Parity and
Addiction Equity Act (MHPAEA), plan participants and providers are entitled to receive access to
certain plan information, reasons for denial of coverage or benefits, and copies of the medical
necessity criteria used to make benefit determinations. In order to facilitate these document requests,
NYSPA prepared form letters that can be used by psychiatrists and patients. Through document
requests and sharing of materials, they hope to identify ongoing patterns and practices of
discrimination, the next step in ensuring full enforcement of the parity laws.
On October 15, 2015, U.S. Senator Rob Portman (R–Ohio) joined U.S. Senator Chris Murphy (D–
Conn.) and U.S. Senator Kelly Ayotte (R–N.H.) in calling on the U.S. Department of Health and
Human Services (HHS) and the U.S. Department of Labor (DOL) to take immediate, overdue action
to fully implement and enforce the Mental Health Parity and Addiction Equity Act (MHPAEA).
In a letter addressed to HHS Secretary Sylvia Mathews Burwell and DOL Secretary Thomas E.
Perez, the senators emphasized that implementation of MHPAEA has been incomplete and
inconsistent. The senators warned that parity is still not a reality for individuals living with mental
illness and addiction, and that health plans routinely refuse to disclose medical management
information making it impossible for consumers and providers to determine if the plans are treating

The Commissioner Of Social Security Essay
Service Delivery
The Commissioner of Social Security is responsible for administering the OASDI program and
service delivery. They are not there to collect FICA taxes. FICA taxes is performed by the Internal
Revenue Service of the Department of the Treasury. The Secretary of the Treasury supervises the
preparation and mailing of benefit checks or direct deposits on debit cards and banking accounts.
They also provide management and investment of the trust funds. Social Security numbers is an
identifiable method used for posting and maintaining the earnings and employment records of
persons covered under the Social Security program. Employers are in charge of withholding FICA
taxes from their employees' paychecks. They must forward these amounts, along with an equal
amount of employer tax, to the IRS on a regular schedule (Old Age, Survivors, and Disbiilty
Insurance, 2016).
If an insurer is employed, employers must file wage reports through (Form W–2) with the Social
Security Administration showing the wages paid to each employee during the preceding year, at the
beginning of February. The W–2 form will be shared with the IRS. If an insurance holder is self–
employed persons report their earnings for Social Security purposes and pay SECA taxes in
connection with their Federal income tax return. Information from self–employment income reports
is sent by IRS to SSA. These reported earnings are placed in the worker's record at SSA
headquarters. The payments are certified by SSA

Investing in a Plan for Retirement: Are You Prepared for...
Options for Retirement
The majority of people age 65 or older in the United States are still working in full time positions.
This opens the question if they planned for retirement, or what if anything went wrong while
working? How do they feel about still having to work? Have they taken proper steps in preparing for
retirement? Are they only working to pass time? These are the questions that everyone should be
asking themselves about their own retirement plans, and what they have done to financially prepare
for that stage in their life.
It is never too early to start planning for the retirement. In today's economy there are no guarantees
that there will be sufficient funds coming from Social Security when an individual reaches the time
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In the private sectors retirement packages do not transfer between different companies; therefore if
an employee decides to switch careers after working for twenty years chances are their accrued
benefits package will not be transferred to the new company. Predicting the future is impossible, no
one will know if a company may go bankrupt or expand, but there is a plethora of ways to ensure a
comfortable retirement will be available when that point in life is reached.
Planning, just like saving for the future does not always come natural to a person and a lot of times
has to be recommended by professionals. It takes personal discipline along with dedication to follow
a good retirement plan. In order to achieve personal goals for retirement there has to be a plan of
action to obtain success. Proper planning for retirement will also provide a positive outlook for that
stage of life.
In the beginning stages of planning personal attainable goals should be set. They can be short term
or long term goals, depending on what is necessary to stay on track and maintain focused. Many
retirees consider relocating due to the cost of living expenses at their current location, wanting to
live closer to family, or simply to a place they had always dreamed of spending the rest of their lives
at.
To be able to figure out the amount of income needed, the preferred lifestyle should also be
considered when starting to draft a retirement plan. A financial advisor

Week 4 Assignment 2 Employement Law and Complaince Plan Paper
Employment Law and Compliance Plan
Shawna Bronson
HCA/260
March 2, 2013
Employment Law and Compliance Plan
A medical office needs to be compliant with employment laws; this will ensure they do not have
lawsuits that could patiently put a company out of business. This also helps the offices run smoothly
and free from errors. There are several employment laws a few of them are the American with
Disabilities Act (ADA), the Employee Retirement Income Security Act (ERISA) and the Health
Insurance Portability and Accountability Act (HIPAA). The American with Disabilities (ADA) is
when an employer is to provide reasonable accommodation to an employee with a known mental or
physical limitation, or a qualified individual with a ... Show more content on Helpwriting.net ...
It also states how the company does the Family and Medical Leave Act (FMLA).
The policies and procedures that are needed to comply with federal employment laws are to comply
with an equal opportunity employment meaning do not discriminate against a person because of
their race, color, religion, sex, or national origin. Another one would be wages and hours worked.
This means employers need to follow the age and time limits, need to pay for all hours worked and
if an employee works overtime, they need to be paid 1.5% of normal pay. The employer also needs
to obey by the garnishment laws for employees. Safety and Health Standards is another the
employer needs to provide a safe and healthy environment for their employees. This one is
important one the Health Benefits, Retirement Standards, and Workers' Compensation.
(Employment Law Guide: 2009) Some more would be Work Authorization for non–U.S. citizens,
Working Conditions, and Other Workplace Standards. Some others are that health care practitioners
are required to comply with HIPAA, medical practice acts, and boards of regulation, reporting
deaths, births, and communicable diseases. (Flight, 2004) Health care professionals are also required
to report abuse of any person.
Job descriptions, procedure manuals, and office handbooks are critical to the success of a medical
office because they

Swot Analysis : Eye Laser Machines Sold By Tecquirk
TecQuirk, a publicly held organization, manufactures medical equipment for hospitals, retail outlets,
and for online sales. Eye laser machines sold by TecQuirk are produced by a subsidiary purchased
three years prior for $1 billion dollars. A one year warranty is provided on every item manufactured
and sold by the company. Additionally, the organization provides a benefit pension plan for
employees. As the organization prepares estimates for certain expenditures related to manufacturing,
sales, and operations, said accounts must be analyzed for preparation of financial statements.
Estimating Balances TecQuirk makes estimates of expenditures in certain accounts when preparing
financial statements. Said accounts include pension obligations, allowance for uncollectible
accounts, allowance for returned goods, warranty liability and related expenses, litigation and other
contingencies, and goodwill valuation. Each account's estimate can be significantly affected by
certain factors. As such, said factors must be considered in calculating the estimates of the accounts.
Pension Obligations Pension obligations face several critical factors in computations of estimates;
interest rates, vesting requirements, life expectancies, work–force projections, and company
reorganizations. As TecQuirk administers a defined pension plan, estimates must be calculated for
future pension payments, which are dependent upon contributions and the effectiveness of reserves
management (Volkov,

The Board Of Directors Of Easter Seals North Ga Inc.
Purpose
The Committee is established with the approval and resolution of the Board of Directors of Easter
Seals North GA, Inc. The "ERISA Committee" is established for the effective monitoring of 401 (k)
retirement plans and hiring the service providers such as registered investment advisor or insurance
company to fulfill the fiduciary obligations applicable under the Employee Retirement Income
Security Act.
COMMITTEE MEMBERS
The Fiduciary Investment Committee shall consist of the following members:
(1) CEO/ President
(2) CFO
(3) Human Resource Director
(4) Compliance Director
Administration of Employee Retirement Benefit Plan
1. Fiduciary Investment Committee members shall be appointed by the, Board of Directors of ...
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Prudently select investment options, fees and rates
C .Hiring plan service provider and investment managers with professional knowledge
d. Periodically review the Plan's documents and investment performance, in consultation with hired
investment advisor. If required, Committee will recommend and adopt investment option, fees, and
rate changes.
e. Provide Plan participant investment education and communication through hired Investment
consultant or managers 3. The Fiduciary Committee shall follow all the requirements set forth in the
Investment Policy statement (the "Investment Policies") of the Plan.
4. The Fiduciary Committee shall meet quarterly and at any time the Fiduciary Committee is
required to act pursuant to the Investment Policies.
5. The Fiduciary Committee shall provide information to Service Providers to assist the Service
Providers in preparing all necessary documents.

6. The Fiduciary Committee shall be accorded the resources and authority appropriate to discharge
its responsibilities, including the authority to consult counsel to the Plan and other experts or
consultants at the expense of the Plan. The Committee will take part in applicable opportunities for
continuing education in matters relating to investments and the Committee's responsibilities.
7. This Charter may be amended by action of a majority of the members of the Fiduciary Committee
at a meeting or by the Plan Sponsor; providing that, if amended by the

Retirement Income Plans
TORY BENEFITS The Social Security Act of 1935, with its later amendments, established a system
of providing old age, survivor's, disability, and retirement benefits [EEOC, 2005], which the Social
Security Administration administers. Furthermore, the act is to provide for the general welfare by
establishing a system of Federal old–age benefits, and by enabling the several States to make more
adequate provision for aged persons, blind persons, dependent and crippled children, maternal and
child welfare, public health, and the administration of their unemployment compensation laws; to
establish a Social Security Board; to raise revenue; and for other purposes (Social Security
Administration, 1935). For 2005, social security is supported by a tax of 15.3 percent on income up
to $90,000. If your net earnings exceed $90,000, you continue to pay only the Medicare portion of
the Social Security tax, which is 2.9 percent, on the rest of your earnings (Social Security
Administration, 2005). Employers pay 7.65 percent, the employee pays the other 7.65 percent, and if
an individual is self–employed they pay both halves. VOLUNTARY BENEFITS Retirement income
plans are a benefit, which gives individuals some form of additional income other than social
security after retirement. Retirement income plans are governed by the Employee Retirement
Income Security Act of 1974 (ERISA) and the purpose of the act was to regulate private pension
plans in order to assure that employees who put

Canada 's Public Pension System
Canada 's public pension system consists of a combination of federally and provincially sponsored
programs:
1. The Old Age Security program which provides Canadians with a pension at age 65 if they satisfy
certain residence requirements.
2. The Canada/Quebec Pension Plan which provides Canadian workers and their families with
partial replacement of earnings in the case of retirement, disability or death.
3. The Provincial Income Supplement Programs which provide their low–income residents with an
income supplement to the Old Age Security benefits.
4. The Veterans Affairs Canada Program which provides qualified veterans with retirement,
disability, and death benefits.
These programs were created to help eligible Canadians answer concerns ... Show more content on
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Between 1965 and 1969, the age of eligibility went down gradually from 70 to 65. In the 1970s, the
government started to index the pension payments to the consumer price index, and to provide
supplemental benefits such as the Guaranteed Income Supplement, the Allowance, and the
Allowance for the Survivor to low–income pensioners.
In the late 1980s, after a prolonged period of inflation and economic stagnation, the government
began to see the pension system as costly and started to levy a special tax called "recovery tax" on
OAS pensions to reduce and ultimately eliminate the OAS pension for people whose annual income
exceeded a certain level.
Today, the benefits of the program include:
1) The OAS pension
2) The Guaranteed Income Supplement
3) The Allowance
4) The Allowance for Survivor.
The program is funded entirely by the general revenues of the Government of Canada, and provides
a basic level of support to those with no other sources of retirement income. In 2014, the total
expenditure of the program was 2.3% of GDP, with 35 billion paid in OAS pension and 10 billion in
Guaranteed Income Supplement to 5.5 million seniors.
Service Canada is the administrator for the OSA program. See Exhibit I more information.
1.2 Canada/Quebec Pension Plan
The Canada Pension Plan (CPP) is a mandatory contributory earnings–related public pension
program for Canadians since 1966.

Overview of The Employee Retirement Income Security Act
ERISA The Employee Retirement Income Security Act (ERISA) is a piece of legislation enacted y
the US Congress in 1974, after decades of similar legislation had been proposed and some of which
had been enacted, but primarily as a means of addressing gaps in contemporary law and policy
regarding employment pensions and retirement accounts (US Department of Labor, 2012). This
legislation spells out certain requirements regarding information that retirement plan administrators
must provide the participants and beneficiaries so that they can make pertinent decisions or take
steps to safeguard their retirement savings, and also places certain guidelines and limitations on the
conduct of managers of pension and retirement plans (USDOL, 2012). Government reporting
standards and measures to ensure the protection of and proper access to retirement funds are also
part of the legislation (USDOL, 2012). The legislative history of ERISA can in some ways be traced
back to the Revenue Acts of 1921 and 1926, which set tax rules regarding the deductibility of
pension contributions and the growth of pension fund's portfolios and thus encouraged pension
planning while also establishing some degree of regulation by the IRS (USDOL, 2012). The
Revenue Act of 1942 increased regulation and placed stricter requirements on pension plans in order
for them to receive these tax benefits, and the Welfare and Pension Plans Disclosure Act of 1959,
amended in 1962 brought pensions under he purview of the

Pensions
Pensions ACCT 302 Pensions help us live with an income as we get older and have retired. "A
pension plan is a financial arrangement that allows individuals to continue receiving some type of
regular income even after they are no longer active in the workforce." (1) Most of the pension
options out there are used when you retire however there are certain instances where you can collect
a pension before retirement due to a disability. Pension plans are also interchangeable with
retirement plans they are basically the same thing. Pensions are based on years of service and what
has been put into them both by the employee and the employer over the years of service. There are
also pensions offered by government so it is possible to ... Show more content on Helpwriting.net ...
Usually with the simple IRA the contribution percent is lower though. The other difference is that
"worker contributions are capped at $6,000 per year, with employers matching a small share. No
wait for vesting." (6) They are popular among small businesses that have less than 100 employees.
SEP plans allow the employee and the employer to make contributions in the employees name
instead of the company's name. They are usually used by self–employed people small businesses.
"Created by Congress and monitored by the Internal Revenue Service, SEP's are designed to give
small business owners and employees the same ability to set aside money for retirement as
traditional large corporate pension funds". (7) SARSEP plans, also known as Salary Reduction
Simplified Employee Pension Plan, were used prior to 1996 when 401(k)'s came about. After 1996
no new plans were created, but the old ones were allowed to stay. (8) Profit–Sharing Plans split up
the gains of a company between the company itself and the employees. They are set by a
predetermined set of economic rules. Usually used by publicly traded companies. You can also have
other retirement plans in place and can be any size business. These contributions will also be taxed
when they are dispersed by the IRS during retirement. (9) Defined Benefit Plans is "An employer–
sponsored retirement plan where

U.s. Labor Policy Proposal Essay
Labor Policy Proposal
Presented by
Institution
Introduction Many people have no idea of what they expect to achieve after retirement when asked
about their retirement plans. The government's policies about retirement do not cater for the well–
being of retirees creating a lot of worry for the life after employment. The increasing number of
employees demanding cover by government pension programs and the current decline in the
retirement income levels contributes to the change of the American pension landscape (Heiland and
Li, 2012). The United States of America developed labor laws during the time when the country's
economy was independent and self–contained. The main aim of U.S. labor policy was to get rid of
different challenges affecting employees and improve their lifestyle in order to enjoy working in a
suitable environment. Additionally, the labor policy aimed at protecting American workers by law
and protecting certain human rights. According to Dugas (2013), despite the growing economy in
U.S. more than 28 percent of American workers lack confidence with the current labor policy on
retirement. The research conducted by the Employment Benefit Research Institute (EBRI) in 2013
revealed that most workers are not sure of saving money for retirement. The above information calls
upon a recommendation of labor policy about retirement that would fulfill the demands of workers.
The proposed policy will bring change to the Public Employees' Retirement Fund

Case Study: HRM 533: Total Rewards
Assignment 4: United States Department of Labor Case Study Philis Chepkoech Dr. Lorna Thomas
HRM 533: Total Rewards 8/28/17 Describe the major features of this Website and how each feature
can be used to monitor employee benefits. Benefits are essential regarding compensation and the
availability of benefits, such as pensions and health insurance matters to employees and is a
hallmark of better jobs (Worldat 2007). For employers, benefit plans are encapsulated in the total
labor costs and require substantial expertise to administer. Klonoski (2016) indicated that
employment laws affect benefit plans and because these benefits are required by law, employers do
not gain much advantage in the labor market by offering them thus employers only focus on
complying with ... Show more content on Helpwriting.net ...
It also gives media contacts where individuals contact for more information or seek clarification.
They have a contact information where employers and employees can contact and inquire about
different programs and get direct and instance responses. References
https://www.dol.gov/general/topic/health–plans/cobra Noe, R., Hollenbeck, J., Gerhart, B., Wright,
P. (01/2013). Fundamentals of Human Resource Management, 5th Edition. Klonoski, R (2016).
"Defining Employee Benefits: A Managerial Perspective". International Journal of Human Resource
Studies. Walsh, D. J. (2016). Employment Law for Human Resource Practice, 5th Edition. [Strayer
University Bookshelf]. Weathington, Barton L.; Tetrick, Lois E. (September 2000). "Compensation
or Right: An Analysis of Employee 'Fringe' Benefit Perception". Employee Responsibilities and
Rights WorldatWork. (2007–04–20). The WorldatWork Handbook of Compensation, Benefits &
Total Rewards: A Comprehensive Guide for HR Professionals, 1st Edition. [Strayer University
Bookshelf]. Retrieved from

Funding Social Security: A Modern Approach Essay
Social Security Overview Social Security is one of America's most successful government
programs, and has helped millions of Americans avoid poverty. Congress passed the Social Security
Act in 1935 and the retirement benefits program went into effect on January 1, 1937. Social Security
issued its first monthly retirement benefits check to Ida May Fuller of Ludlow, Vermont on January
31, 1940 in the amount of $22.54. Miss Fuller, a Legal Secretary, retired in November 1939. She
started collecting benefits at the age 65 and lived to be 100 years old, dying in 1975. Miss Fuller
worked for three years under the Social Security program, the accumulated taxes on her salary
during those three years was a total of $24.75. During her lifetime she ... Show more content on
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6) Public assistance and welfare services, including aid to needy families with children, medical
assistance, maternal and child health services, child support enforcement, family and child welfare
services, food stamps and energy assistance (Stenken). The heart of the Social Security system is the
retirement program, and this was the original intention of social security and it encompasses today
the greatest number of beneficiaries (Tomkiel). Generally speaking, most employees in private
industry, most self–employed persons, and members of the U.S. Armed Forces are covered by Social
Security however some groups of people are excluded from social security coverage. Some groups
of people are excluded from social security coverage. The main groups excluded are federal
employees hired before 1984, and railroad employees, who fall under the Railroad Retirement
System. Otherwise the following categories of people can receive Social Security Benefits: 1) A
disabled insured worker under the age of 65. 2) A retired insured worker at age 62 or over. 3) The
spouse of a retired or disabled worker entitled to benefits who is age 62 or over, or has in care a
child under age 16 or over age 16 and disabled who is entitled to benefits on the worker's Social
Security record. 4) The divorced spouse of a fully insured worker who has not yet filed a claim for
benefits it both are age 62 or over, were married for at least 10 year, and have been finally

Challenges in Pension Reform
CHALLENGES IN PENSION REFORM A RESEARCH PROJECT SUBMITTED TO THE
FACULTY OF NATIONAL UNIVERSITY IN PARTIAL FULFILLMENT OF THE
REQUIREMENTS FOR THE DEGREE OF MASTER OF PUBLIC ADMINISTRATION
NOVEMBER 2012 By James Michael Sandburg Capstone Project Faculty Advisor Gary Geiler
CAPSTONE PROJECT APPROVAL FORM I certify that I have read the Project of James Michael
Sandburg entitled Challenges in Pension Reform, and that, in my opinion, it is satisfactory in scope
and quality for the degree of Master of Public Administration at National University. Approved by:
______________________________________________ ______________________ Gary Geiler
Date ABSTRACT The purpose of this study is to examine the ... Show more content on
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By this point we are 60 to 70 years old and ready to retire in some level of comfort and dignity,
without having to work anymore – retirement and our "declining years," they say. That lasts another
dozen years, give or take a decade. The level of comfort and dignity one enjoys during those final
years is measured mostly by the wealth we have managed to accumulate during the 3 or 4 decades
we toiled at those chosen professions we spent so many years preparing for. For most of us, that
wealth consists mainly in something modern society calls a pension. Because most of us lack the
discipline, sophistication, or skills needed to set aside and invest money during our working years,
the task of accumulating pension funds is left mainly up to our employers, who in turn hire highly
specialized teams of people to administer those pension funds. Some of them do that extremely well;
others not so much. Because not all employers offered pensions, in 1935 Congress passed legislation
authorizing the federal government to tax workers and their employers, in exchange for
guaranteeing a basic pension. That legislation was the Social Security Act. Social Security was
never intended to replace employer–provided pensions, or to discourage workers from accumulating
their own retirement funds. Rather, the intent was that Social Security would provide a guaranteed
base upon which workers and their employers could build. Employer–provided pensions are not

The First Retirement Plan Of The United States
The first retirement plan created in the United States, is one that the majority of us are familiar, the
Social Security Act, signed under law in 1935. Up until 1939, Social Security only paid retirement
benefits to primary workers, which for the most part were men. Age 65 was chosen as the retirement
age because individuals who survived past childhood were likely to live past 65. However, not
everyone benefited from such assistance, even after age 65–agricultural and domestic workers were
excluded from coverage (DeWitt, 2010). The excluded group consisted of roughly half of workers
contributing to the economy, which the majority were African Americans. According to Larry
DeWitt, a public historian from the Social Security Administration, exclusion of such groups was
due to tax–collection procedures and not due to racial bias. Although it may seem as though Social
Security was meant to be the only form of retirement plan for qualified retirees, it was not. During
such time, many individuals strongly depended on their savings as well as on their family. Today,
the certainty of receiving sufficient benefits solely from Social Security for a quality standard of
living after retirement is indefinite. Baby boomers–individuals born post World War II between
1946 and 1964–are beginning to claim their benefits, and given what I have learned in class, the
number of individuals entering the workforce is inadequate to sustain such a large population, thus
such generation will consume

401 Plan Should Not Be The Retirement Options
Employer matched 401k plan should not be the only retirement options people have its one of a few.
Company pensions are almost a thing of the past many companies are doing away with this benefit
due to cost associated with maintaining this plan. Today most people don't even stay at a job longer
than five years, with this type of turnaround it would make it that much more costly to an
organization to maintain this benefit. The key to addressing the retirement needs of your employees
it to educate them. By providing educational retirement workshops the employee will be better
equip in making informed decisions about retirement. We all know it's never early to plan for
retirement the earlier the better. Young people as young as twenty should have a retirement plan
already under way, when you are educated and informed you put yourself in a better position in the
long run. As the HR professional in charge of informing the employees I would have a meeting
broken into groups by departments. At the meeting I will explain our company's retirement options
company wide. Literature should be distributed explaining the plan how it works and what to expect
when that time comes. Keeping the lines of communication open with the employees is essential;
the employee should understand fully all aspects of the employer sponsored retirement plans.
Outsourcing has grown in popularity in recent year's health care reform along with compliance
challenges are the biggest contributing

Questions on Employee Benefits
EMPLOYEE BENEFITS WEBSITE 6 Q1.Describe the major features of this website and how each
feature can be used to monitor employee benefits. The website provides links to various sources of
information provided by federal agencies for employees and employers seeking clarification about
the benefits they are owed and to which they owe others. The website answers FAQs, provides
benefit 'cheat' sheets to educate employees about their rights, and offers online publications about
health plans, retirement plans, and other benefits. Website surfers can request assistance from a
benefits adviser online, to provide more objective information about their coverage than a member
of the HR staff at their current employer. For example, the Health Benefits Advisor "is designed to
help workers and their families better understand their federal right concerning access to health
coverage, whether provided through a group health plan or otherwise, especially when they
experience changes in their life and work situations––such as marriage, childbirth, job loss or
retirement" (Health Benefits Advisor, 2012, e–laws). For employees who may not be comfortable
with the written materials on the website, there are videos explaining benefits in what is hoped to be
easily–understandable language. According to the website, the organizational mission statement of
the Employee Benefits Security Administration "is to assure the security of the retirement, health
and other workplace related benefits of

Consolidated Omnibus Budget Reconciliation Act Essay
The first feature is that the website provides detailed information regarding the Consolidated
Omnibus Budget Reconciliation Act (COBRA). Rebecca, T. (n.d) states that COBRA was,
"...established by the American Recovery and Reinvestment Act, to help workers who lose their jobs
maintain their employer–sponsored health insurance." This section of the website is broken down
into sections for employees, employers, posters and flyers, videos, and general information
The second feature is that it also provides consumer information on health plans from the
department's Employee Benefits Security Administration (EBSA). The Employee Benefits Security
Administration is the agency that enforces the rules of the Title of the Employee Retirement Income
... Show more content on Helpwriting.net ...
The laws discussed in this section are the Consolidated Omnibus Budget Reconciliation Act
(COBRA), Health Insurance Portability and Accountability Act (HIPAA), Mental Health Parity and
Addiction Equity Act (MHPAEA) and Mental Health Parity Act (MHPA), Newborns' and Mothers'
Health Protection Act (Newborns' Act), Women's Health and Cancer Rights Act (WHCRA), Genetic
Information Nondiscrimination Act (GINA), and Michelle's Law.
The second way is for employers to utilize the health benefits laws self–compliance tools. There are
two major sections listed under this link, HIPPA and other health care–related provisions and the
affordable care act provisions. Employers can be used to compare the provisions of their plan to
ensure they are compliant with HIPPA, affordable care act, and other health care–related provisions.
The third way is for employers to utilize the reporting/disclosure guide for employee benefit plans.
This is a reference tool that employers can utilize for reporting and disclosure provisions under
ERISA. The fourth way is for employers to utilize the understanding your fiduciary responsibilities
under a group health plan which provides a summary of the rudimentary fiduciary responsibilities
pertaining to health plans that fall under the ERISA mandates.
Employee Rights The succeeding paragraphs explain how employees can use this website to verify
that their employee benefits

Benefits And Benefits Of Employee Benefits
I've chosen the topic of employee benefits and the varying considerations given to benefits as part of
total compensation around the globe. What are the issues to be considered? What about the MNE
employee?
The content of this paper includes key excerpts and a condensation (compacted by >80%) of current
knowledge regarding the administration of employee benefits as published by McGraw–Hill 2011 in
"The Handbook of Employee Benefits: Health and Group Benefits, 7th Edition. Jerry S.
Rosenbloom, editor". This is the reference textbook for the International Foundation of Employee
Benefits Plans (IFEBP), and Wharton (University of Pennsylvania), for those looking to certify as
"Certified Employee Benefits Specialists" (CEBS).
The ... Show more content on Helpwriting.net ...
This process entails a balancing act among:
"Local benefits objectives with local and global business objectives and philosophies
Differing competitive environments and economic realities
The cost and benefits available from old age, survivors, and disability programs with supplemental
retirement and capital accumulation plans
The cost, quality, and availability of national health insurance programs with emerging private
medical practices in many countries
Changing regulatory environments that impact the design, delivery, and cost of supplemental
benefits plans with local and global benefits objectives"
..(Rosenbloom 2011)
Added to these local concerns, individual differences may need to be accommodated according to
where the employee was hired and where they will be assigned. Benefits that meet the employee's
needs in the home country may not be portable nor meet their needs in the assigned country.
Local issues include the following:
1. Government–required benefits.
2. Government–provided benefits.
3. Legal/Regulatory environment.
4. Taxation of benefits.
5. Local economic conditions
6. Labor unions & labor environment.
Coverage amounts and funding: Common benefits offerings include retirement, death,

A Brief Note On Tax Service Llc.
Katy, Texas
RKL Tax Service LLC
Keywords: find a tax preparer, find a tax professional for (category), tax preparer, accountant
The Facts About Social Security
Social Security is a federal program that affects everyone in the United States, and has long lasting
implications for every tax payer. If you need help understanding how the Social Security system
works, contact us at RKL Tax Service LLC. We have a staff of tax preparers and accountants who
know the Social Security system through and through.
What is Social Security?
The Social Security Act, a law passed by Congress in 1935, was created to provide the elderly
citizens of the country with benefits in their later years. Thanks to the efforts of Franklin D.
Roosevelt, this ... Show more content on Helpwriting.net ...
The SSI program provides anyone who is classified as aged, disabled, or blind with benefits, even if
they have never worked. The Social Security Administration manages the SSI program, which only
furthers the confusion between the two entities.
Social Security Facts
To say that Social Security affects all Americans is not an understatement. As of 2015, nearly sixty
million people in the United States will be receiving Social Security benefits. For that year alone,
over $850 million dollars was dispersed to those beneficiaries. The Social Security benefits given
are divided among five different demographics of people.
Retired workers claim the largest portion of allocated benefits, at roughly 66% or $53 billion dollars.
On average, a retired person collecting Social Security receives a monthly stipend of $1,335. The
dependents of the retired beneficiaries receive another two billion dollars worth of assistance, spread
among three million people.
Disabled workers who qualify for the Disability program currently total more than nine million
Americans. Their average monthly stipend is $1,165 per month, totaling $10.5 billion dollars in
benefit money. The dependents of the disabled currently accounts for two million citizens, with an

overall cost of $0.7 billion dollars.
Those who have been classified as survivors are a smaller group, though $6.7 billion dollars is still
given each year to these individuals. A good example of a survivor

Legal, Safety, and Regulatory Issues Essay
Legal, Safety, and Regulatory Issues
HCS 341
April 4, 2011
Abstract
Legal, Safety, and regulatory issues all have a large impact on the human resources process as they
relate to the statement "Common sense and compassion in the workplace has been replaced by
litigation." In today's society litigations seem to be an increasing greatly, and administrators do their
best to create human resources processes that avoid any possible litigations on them and or their
organization.
I completely agree with the statement "common sense and compassion in the workplace has been
replaced by litigation." There has been an extremely large increase in the number of employees who
either sue or attempt to sue an organization and often out ... Show more content on Helpwriting.net
...
For this reason there are many employee–related regulations that have been created including but
not limited to workers' compensation laws, the social security act, Wagner Act, Fair Labor
Standards Act, Taft–Hartley Act, Landrum–Griffin Act, Equal Pay Act, Title VII of Civil Rights Act,
Executive Order 11246, Age Discrimination in Employment Act, Employee
Retirement Income Security Act, Vietnam–Era Veterans Readjustment Act, Pregnancy
Discrimination Act, Job Training Partnership Act, Consolidated Omnibus Budget Reconciliation
Amendment and Reemployment, Immigration Reform and Control Act,
Worker Adjustment and Retraining Act, Drug–free Workplace Act, Americans with Disabilities Act,
Civil Rights Act, Family and Medical Leave Act, Uniformed Services Employment and
Reemployment Rights Act, Health Insurance Portability and Accountability Act, Pension Protection
Act, Brynes Antistrike breaking Act, Coral mine health and Safety Act, Employee Polygraph
Protection Act, Immigration Act of 1990, Norris–La Guardia Act, Older Workers Protection Act of
1990, Railway Labor Act, in addition to many other employee related regulations that I have not
listed. The Department of Labor, the United States Equal Employment Opportunity Commission,
the Americans with Disability Act of 1990, and the Department of Homeland Security are a few of
the best known employee–related regulations that were created to ensure that the employees are
treated

How Employees Make Investment, Saving And Manage Their...
A number of aspects have emerged in the last ten years regarding the behaviors of employee in
making retirement decisions. This dissertation investigates various insights from previous studies
about how employees make investment, saving and manage their retirement plans. The purpose of
this study understands the behavior adopted by the individuals while making economic decisions
and the reaction of the market towards these decisions. Past studies demonstrate that majority of
employees make little savings towards while others make poor choices and other use their
accumulated investments quickly when they retire. The behavioral basis for these trends is
overconfidence, restricted regulation, and so forth. Providing detailed understanding on the reasons
why employees do no attain ideal results of their retirement plans, presents practical basis for
policymakers and sponsors in charge of designing, controlling an assessing organisations that offer
financial security when employees retire. In particular, literature shows that the design of pension
plans should be made in a way that it 's automatic for employees unwilling to exercise control of
their savings in old age. Table of Contents Abstract 2 1.0 Introduction 3 1.1 Purpose 4 1.2 Questions
4 2.0 Literature Review 5 2.1 Theoretical Framework 5 2.2 Defined Contribution (DC) Plans in
Various Countries 5 2.3 Implementation of Defined Contribution plan 6 2.4 Employees
understanding plans offered by the employers

Essay on Human Resources Management
NAME _________________________ DATE________________
This exam has two (2) parts – multiple choice and short answer essay. Circle the correct answers
(2 points each).
1) The methods used to give new or present employees the skills they need to perform their jobs are
called ________.
A) orientation
B) training
C) development
D) appraisal
2) The first step in a training program is to ________.
A) assess the program's successes or failures
B) design the program content
C) conduct a needs analysis
D) train the targeted group of employees
3) What is the second step in the training process?
A) assess the program's successes or failures
B) present the program to a small test audience
C) ... Show more content on Helpwriting.net ...
A) Fair Labor Standards Act
B) Civil Rights Act
C) Employer Retirement Income Security Act
D) Davis–Bacon Act
21) Jill works as a cashier at a grocery store. She earns $8 an hour (or $320 for a 40–hour week).
Last week, she worked 44 hours. What did she earn last week?
A) $320
B) $336
C) $344
D) $368
22) The ________ prohibits discriminating against employees who are 40 years of age and older in

all aspects of employment, including compensation.
A) Fair Labor Standards Act
B) Civil Rights Act
C) Equal Pay Act
D) Age Discrimination in Employment Act
23) ________ is a formal and systematic comparison of jobs to determine the worth of one job
relative to another.
A) Job analysis
B) Job evaluation
C) Benchmark analysis
D) Job ranking
24) What are the benefits Social Security provides?
A) income if retirement is at age 62 or later and individual is insured under the Social Security Act
B) death benefits to surviving dependents for those insured under the Social Security Act
C) Medicare
D) income if retirement is at age 55 or later
25) Ethics refers to the ________.
A) basic beliefs about what is right or wrong
B) characteristic values, traditions, and behaviors a company's employees share
C) principles of conduct governing an

The Law And Saudi Arabia Employment Law
Employees continue to be a driving force of any nation and have the capability of crystallizing
success or hastening the demise of organizations given the laws surrounding their engagement
(Goldman, Corrada & Goldman, 2011). More so, the law influences employee commitment or
withdrawal from any organization in addition to affecting the areas of managerial action. The law,
therefore, gives employers and employees wide latitude to act potentially in their best interest. In
both the United States and Saudi Arabia, there are vital laws that guide employment. Such laws
encompass the significant remedies that focus on addressing grievances and cases of discrimination
that may occur in workplace environments. The foundation of such systems is the constitution that
provides the laws and regulations (Goldman, Corrada & Goldman, 2011). The research, therefore,
focuses on comparing the United States employment law and Saudi Arabia employment law.
Employment in the US Employment is the United States remains a vital factor driving the economy
of the nation. Every industry depends on employment to progress and meets set objectives,
including the transportation, wholesale and retail, information, government, manufacturing,
healthcare, and entertainment and construction sector (Goldman, Corrada & Goldman, 2011).
Furthermore, the employment sector has a workforce from different backgrounds with various skills,
knowledge and expertise. Every industry can absorb the employees depending on

History Of The Traditional Ira
History of the Traditional IRA
The Individual Retirement Account, or IRA, was formed in 1974 under the Employee Retirement
Income Security Act (ERISA) (Holden, Ireland, Leonard–Chambers, & Bogdan/Investment
Company Institute, 2005). When the Traditional IRA was first created, it had two functions: the first
was to give tax benefits to workers who contributed to an IRA without an existing employee
retirement plan, and the second was to allow funds in an existing employee retirement account to be
relocated to an IRA when he or she changed jobs or retired (Holden, Ireland, Leonard–Chambers, &
Bogdan/Investment Company Institute, 2005). Since then, eligibility requirements and contribution
limits have changed, and different forms of IRAs were established.
How a Traditional IRA Works
An individual retirement account (IRA) is an account for individuals to save money for their
retirement and receive certain tax advantages on the money saved. With this account, the individual
makes yearly contributions based on his or her income, and as a result, the individual obtains
income tax benefits. The earnings grow without being taxed until retirement. Depending on the
amount of income the individual earns, a portion or all of his or her earnings may be tax deductible
(Rejda & McNamara, 2013, p. 285). Two requirements must be satisfied in order to establish a
Traditional IRA: first, he or she must be younger than 70 ½ years old; second, the individual must
have taxable earnings throughout

ERISA Case Analysis
When individuals are searching for employment, they may certainly be interested in the
compensation of the position, but something equally important to some job seekers are the benefits
and total compensation package that employers may offer. An employee facing separation from
employment or one of the other qualifying events must consider that it is not just their salary that
they are losing, it may be their health care benefits for themselves and their family. Lawmakers saw
the need to establish an incentive for employers to provide continued health care coverage after
certain events that led to a loss of health coverage. Thus, Title X of the Consolidated Omnibus
Budget Reconciliation Act of 1985 (henceforth, COBRA) enables qualified ... Show more content
on Helpwriting.net ...
This continued coverage does not necessarily cost the organization, as the portion of the coverage
previously covered by the employer now becomes the responsibility of the employee who opts for
coverage under COBRA. It is, however the responsibility of an organization that is subject to the
COBRA provisions to inform their employees of this continued coverage option within 30 days of
the employee's eligibility for the coverage. The United States Department of Labor provides
information on their website which employers can provide their qualified employees with
information on enrolling in COBRA benefits. The compensation and benefits manager must also be
able to provide accurate information to their employees regarding their eligibility for COBRA
mandated coverage. The basis for this qualification revolves around a list of qualifying events which
a person may find himself experiencing that can lead to a loss of coverage. To begin with, the
employee must have been covered by their employers plan when the qualifying event took place An
employee must also understand that certain qualifying events also protect the coverage of their
spouse and dependent children. Qualifying events for which the employee and all their dependents
are eligible for COBRA coverage include; voluntary or involuntary separation from employment
other than that of gross misconduct, a reduction of hours that

Quiz One Essay
1) Patty owned Patty's Cakes in Jacksonville, Florida. She sold her business to Fruity's, Inc. a
national pastry company. There was a non–compete agreement in the contract for the sale of her
business. In the non–compete, Patty agreed not to work in any capacity in the food industry for 10
years on the entire east coast. A court would likely determine that the non–compete agreement a)
violates federal law b) is unenforceable c) is enforceable d) both A and B 2) A liability that may
extend from an employee to the employer if the employee is acting within the scope of his or her
employment at the time the liability arose is called: a) vicarious liability b) employee liability c)
employer liability d) adverse liability ... Show more content on Helpwriting.net ...
solicited bids from various independent contractors to landscape the grounds of its new office
complex. Drew, head of facilities management told Patty, his secretary, that he would not accept any
bids from Hispanic contractors. Drew explained that he would authorize hiring only American
contractors to work on the grounds. A Hispanic contractor brings a lawsuit against ABC for
discriminations. a) Drew's refusal to hire Hispanic companies is a violation of the Independent
Contractors Act of 2006. b) Drew's refusal to hire Hispanic companies is a violation of the Title VII
of the Civil Rights Act c) The Hispanic contractor cannot prevail in a discrimination case because
John's conversation with his secretary is confidential and cannot be used as evidence. d) Drew's
refusal to hire Hispanic companies is not a violation of the Title VII of the Civil Rights Act because
that law does not cover discrimination against independent contractors. 7) BRC Partners is a
consulting firm. Sam and Arnie are analysts for BRC. Sam was hired as an employee and Arnie was
hired as an independent contractor. They both work in the same BRC office under the same

Osha 's The Occupational Safety And Health Administration
Keywords: mediating OSHA Claims in Dallas TX, ERISA claims in Dallas TX, workplace
harassment in Houston, TX, disability discrimination in Dallas TX
Mediating OSHA Claims in Dallas, TX: Which Cases are Eligible?
Claims under the Occupational Safety and Health Administration, or OSHA, involve allegations that
an employer has not provided a safe work environment or is not following OSHA standards. Under
OSHA, employees may report safety violations. After reporting claims to OSHA, these employees
are protected from retaliatory conduct from their employers, such as termination or demotion. These
claims, called whistleblower complaints, must be thoroughly investigated, which may take a
significant amount of time. Many attorneys have begun mediating OSHA claims in Dallas, Texas.
However, prior to mediating OSHA claims in Dallas, Texas, attorneys must make sure that their
clients' whistleblower claims are eligible for mediation.
First, an OSHA investigation must be underway prior to mediation, and the employer must have
responded to the employee's complaint. This is a significant difference from other claims; where no
complaint or suit must be filed prior to scheduling mediation.
Next, the regional ADR coordinator and the Federal Mediation and Conciliatory Service will work
together to determine whether the case is eligible for mediation. These entities will examine whether
the parties are willing to work together to create a settlement agreement. If your client is particularly

Negotiators In Health Care Case Study
1. How can negotiators reduce health care costs and maintain good health care benefits?
Health care is a primary concern and interest for employers, union negotiators and employees. Both
parties want to know what their portion of the cost are since they share the cost. Employees pay
copay, deductibles and make monthly premium contributions. To minimize cost and be able to offer
options employers have implemented programs such as HMOs, PPOs, and plans that are self–
insured by the company and a third party calculates premiums. (p319) To lower health care bills
they will increase the employee's copayment, use extended care and home care. Support employees'
health by supporting Wellness programs to increase employees' health such as stress management, ...
Show more content on Helpwriting.net ...
Employers who are striving to cut personnel costs have terminated their pension plans or converted
them to cash balance plans. (p289) In addition employers who are in severe financial trouble use
laws such as bankruptcy laws to avoid paying pensions owed to retired and current employees.
Employee Retirement Income Security Act (ERISA) was passed to protect employee pensions and
the vested rights of employee's beneficiaries. Pension plan members are permitted to leave the
workforce for up to five consecutive years without losing service credit and allowed up to one year
of maternity leave without losing service credit. (p292)
4. What is meant by "eligibility" in a holiday clause?
The requirements that must be met to receive payment for holiday when no work is performed. For
example, the employer may require for you to work the working day before and after the holiday to
ensure there is enough coverage and prevent employees from calling out or "holiday stretching."
(p308)
5. Why do workers try to negotiate wage employment

Income Security Act Research Paper
Have you ever invested into a company or received benefits from a company? From insurance to
social security, there are many different types of benefits you can receive from the firm you work
for. What happens if you don't receive the money you were suppose to get? Where do you go? Who
helps you get the money you are suppose to receive? This is where the Employee Retirement
Income Security Act comes into play. Established in 1974, the Employee Retirement Income
Security Act is a federal law that was created to help workers receive their benefits even if they are
terminated or retire. The Employee Retirement Income Security Act does more than just protect
individuals; it applies certain requirements and regulations for the firms to follow and if the
company does not follow the requirements than they can face substantial fines. On Labor Day,
September ... Show more content on Helpwriting.net ...
Vested benefits refer to benefits and money you have the right to have even if you leave or are
terminated. Vesting is an important term in the Employment Retirement Income Security Act. The
Employee Retirement Income Security Act defends the entitlements of workers to obtain certain
assured settlements, containing pension benefits and revenue from plans, after they have labored at a
company for a period of time. No matter what happens, once the employee has vested and the
money has been guaranteed by ERISA, then the worker is ensured the benefits. Regardless of the
status between the worker and their employer, the employee can be fired or quit and they will still be
qualified for the vested benefits. The only thing is that the payments that you make into the plan
must be big enough to meet the future requirements. Also, the Employment Retirement Income
Security Act launched an insurance plan that will defend workers if they firm goes out of

A Brief Note On The Social Security Act Essay
Chapter 1
Introduction
It is every worker's dream to have a secure and a comfortable retirement benefit. Achieving the
dream is much easier when plans are made on time. In 1935, the social security act was passed into
law by President Roosevelt to supplement the personal retirement benefits of the elderly Americans.
The federal government discovered that Americans were not saving enough money for their
retirement, and needed enough support to support themselves when they retired. The President
ensured that no taxes were charged on the benefits to ensure that the money was available when the
time came to retire. In 1983, the law changed and congress required workers to pay taxes on their
retirements. Today, if one is single and earns a salary of $25, 000 dollars, or is married and the
couple is earning a salary of $32,000 dollars, they will be required to pay 50% percent on their
social security benefits (Royer, 2011). This is one of the problems that will be discussed on the
paper, and how many Americans will not be allowed to retire.
Background
Almost everyone in America over the age of 40 is obsessed with the thought of retiring. A secure
retirement is the hallmark of a career well lived with a symbol for the rich. Retirement benefit has
never been a symbol for the poor, and the rich have never been known to retire. When we look at
someone like Warren Buffet, he looks like a thousand years old with a lot of money, and have not
retired, but is probably thinking about it.

Employee Stock Ownership Plan
An Employee Stock Ownership Plan (ESOP) is a defined–contribution plan which invests primarily
in the stock of the employer. Employers contribute cash or stock to an ESOP and an ESOP may also
borrow money to purchase additional stock. In addition to being a retirement plan for employees,
ESOPs are often used as an exit strategy for owners of small companies, by allowing employee
shareholders to gradually buy–out the existing owners of the company. However, the provision
results in more than $1 billion in revenue loss each year and is sometimes manipulated by large
companies – the most infamous example of which is the Enron case.
The first ESOP was created in 1956 by a San Francisco attorney and investment banker for a local
newspaper. ... Show more content on Helpwriting.net ...
"Firms where employees hold a large fraction of stock are more impervious to hostile takeovers, as
employees and managers may otherwise fear loss of pay and jobs in such a circumstance. However,
threats of takeovers are also a market mechanism that may keep the principal–agent problem under
control and both takeover threats and actual takeovers may lead to a more efficient company.
Reducing takeovers may be advantageous for managers and workers but may not be desirable
socially." The tax preferences encouraging ESOP formation and contributions can also result in a
decline in R&D spending. It is vital our U.S. tax policies do not distort economic

Retirement Income Is A Big Issue Essay
Retirement income is a big issue in most developed countries. In the years past, it was not
uncommon for elderly to live with and be supported by younger relatives therefore reducing the
need for income. Although this is still customary in many parts of the world such as Asia, it is
becoming more normal for our older population to still continue to live an independent lifestyle.
Aging populations also reiterate the need for retirement plans. Where the normal average life
expectancy for males in the 1950s was only sixty–seven and seventy–one for females, it's now
common for women to live for an average of eighty–three years with men slightly behind at
seventy–nine years (Statistics New Zealand). By 2036, it is expected that between twenty–one and
twenty–four percent of New Zealanders will be aged over sixty–five, whereas in 2012 the figure sat
at only fourteen percent. With statistics like these it's more important than ever to make sure our
elderly are provided for in their later years when they are no longer willing or able to work. The way
in which different governments go about acquiring funding for this income varies from country to
country; here we will look at the different systems in place to cater for our elderly here in New
Zealand and compare these to that of the USA and Australia.
First this essay will look at the different sources of retirement income in place around the world. We
will then look at New Zealand's retirement system and how it uses these sources

Retirement Is A Transitional Phase Associated With An...
Introduction Retirement is the ideal that everyone after a lengthy career can relax and collect the
benefits that were guaranteed. This is the symbolic accomplishment of the American dream. In
reality, retirement is a transitional phase associated with an aging population, along with unplanned
changes such as disease, disability, and widowhood. Retirement is anticipated and planned for years
in advance, however this does not happen as often anymore. Currently, in the United States, there is
a portion of the elderly that is forced to work well past the age of retirement. In reality, most elderly
cannot work, and those who can work, live in or near poverty. Such social issues can be attributed to
the government. For example, the huge federal deficit which threatens the quality of life for retirees.
The social security program which promises benefits for retirees, that is not affordable. Medical
insurance program cuts that will impact healthcare for retirees. These are just some of the social
issues of an aging population that everyone needs to be aware of because if nothing is done to
address these problems, it only becomes a burden for following generations.
Social security Social security is a term used to cover a huge portion of the social welfare system. It
first became a general use in the United States in 1935, during the great depression. President
Franklin D. Roosevelt introduced a series of programs known as the New Deal, which included the
social security act

Federally Mandated Employee Benefits Essay
Offering employee benefits is one way a company must competes in today's marketplace to retain
old employees and attracts new ones. These benefit packages may range from offering basic health
insurance to additional discretionary and perk benefits such as vacation and retirement packages.
Benefit packages are often a large portion of employee costs and Federal mandates require an
employer to carry and offer certain benefits even if they offer nothing else. Federally required
employee benefits make up approximately a quarter of the costs associated with employer offered
benefit packages. Some of these mandated benefits include Social Security, Worker's Compensation
Insurance, and the Family Medical Leave Act. Social Security along with ... Show more content on
Helpwriting.net ...
Another benefit assurance an employee has is Workers' Compensation Insurance. The second
employment benefit required by Federal law is workers' compensation insurance, otherwise known
as workers' comp. It is a Federal tax and in most States, employers and employees must contribute
to State workers' compensation programs as well, which provides financial support to people who
are unable to work because of a workplace injury or illness. "Workers' compensation insurance
provides medical care and treatment, rehabilitation and replacement income for employees due to
job related injuries and illnesses workers compensation programs provide benefits to those workers
disabled by occupational illness or injury" (Primepay.com, n.d.). Workers compensation insurance is
the protection of employees from loss of income due to job loss. In addition, it is to cover extra
expenses associated with job–related injuries or illness. Injuries and illnesses more frequently
covered by workers compensation insurance are situations where a disability is temporary or
permanent, this in includes partial and complete disabilities. It also covers impairments obtained at
employer–sanctioned events, such as social events and it covers an employee while traveling for
business purposes.

Payroll Withholdings Essay
Payroll preparations are more complex that its seems because, besides of calculating employee's
compensations, involves computing withholding and taxes. Federal and state laws require the
employer to act as a collecting agent and deduct specified amounts from employee's gross earnings,
and sends the withholdings to the appropriate government agencies, along with the report validating
the figures. Failure to accomplish with these laws, can lead businesses to severe repercussions. The
mandatory withholdings are:
Federal Income Tax Withholding: The amount of federal income tax withheld depends on the
employee total earnings, marital status, and number of withholdings allowance claimed. Thus,
employees are required to provide this information ... Show more content on Helpwriting.net ...
These taxes are commonly known as Social Security Taxes and Medicare Taxes. The FICA tax rates
apply to the gross earnings of an employee during the calendar year, and the percentage withheld
from the employees' income must be match by the employers. Moreover, the employers are
responsible for withhold the money from the employees, and make the payment to the Internal
Revenue Service. Additionally, there certain rules to follows at the time to do the withheld.
 Social Security Taxes: This tax is used towards retirements, and is calculated by applying 4.2
percent of earnings up to $106,800 during the calendar year. Once this amount is reach, employees
are no longer subject to social security tax withholdings.
 Medicare Taxes: This tax is applied to provided elderly (65 years old) with health care services,
such as doctors, hospitals, nurses, etc. Also, applies to those who are receiving social security
disability benefits. Medicare tax rate is 1.45 percent of the total earning from each employee,
without limitation, during the calendar year. Furthermore, there is a Medicare surtax of 0.9 percent
withheld for those whose income exceed certain

Employee Benefits
Introduction The success of any business will directly be related in a major part to its employees.
Within the today's job environment employee benefits tend to be just as important as the salary
therefore any organization that wishes to attract experienced as well as talented employees, a
complete compensation package has to be in place. This is in line with the fact that as time changes,
so is the insurance needs of the employees. The traditionally offered health insurance for employees
that was in existence 3years ago may not meet the needs of employees anymore in the contemporary
society particularly bearing that the health insurance premiums will also continue to go higher, there
will be need for a more cost effective and comprehensive solution. Changes that impact business
environment are capable of affecting employee benefits and it can happen within or beyond the
control of the individual company. Those companies struggling to be stable financially may decide
to reduce the subsidies they pay for insurance premiums or other benefits programs. Circumstances
of legal compliance can as well affect the manner of business allocation of its benefits budgets.
Companies that are to merge or are faced with a shift in employee demographics may need to tweak
their benefit packages so that it can account for new realities (Neil Kokemuller, 2012). Legal
environment; it is evidenced that the legal environment as it relates to human resources as well as
benefit programs tend

The First US Social Security Act

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