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Benefits and Beyond
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Benefits and Beyond
A Comprehensive and Strategic Approach to Retirement, Health Care, and More


Other Titles in:
Human Resource Development

January 2009 | 536 pages | SAGE Publications, Inc
The approach to benefits in Employee Benefits takes advantage of the author's unique academic and business background to provide a variety of inter-disciplinary principles and tools ranging from labour economics to human resources strategy, tax policy, metrics, and actuarial science. This gives students a rich and fundamental understanding of the foundations and building blocks of benefits.

Key topics are included, important for an understanding of current benefits:

fundamental labor economic issues;

a primer on actuarial concepts which continually permeate benefit design and decision making;

life cycle events and their relationship to benefit needs;

aligning business, HRM, and benefit strategies, and including them in benefit principles and designs for the workplace;

global benefit comparisons between the EU and the U.S. as well as Pacific Rim competitors, and issues pertaining to ex-patriot assignments;

privately and publicly funded retirement plans;

publicly funded retirement and health care programs;

legal issues pertaining to benefits;

applying evidence based approaches and financial metrics in evaluating benefit plans;

a full range of benefit discussions from retirement plants, to health care, life insurance, equity benefits disability plans, benefit administration, accommodation and convenience benefits and the financing of private and public benefits.

Numerous cases, examples, and exercises provide illustrations of these topics and opportuntites for reader interaction and further research.

 
Preface
 
1. Introduction to Benefits
The Plan Sponsor's Dilemma  
Employers and the Business Strategy  
Learning Objectives  
Topics Covered  
Conclusion  
Business Strategy Illustration  
Chapter Exercises  
 
2. Human Resource Economics, Principles, and Actuarial Concepts Applicable to Benefits
Total Rewards  
Monetary Value of Benefits  
The Benefits Model  
Actuarial Principles  
Conclusion  
Chapter Exercises  
 
3. Lifecycle Events
Benefits Respond to Lifecycle Events  
Health  
Disability  
Employee Counseling  
Childbirth and Adoption  
Daycare  
Educational Assistance  
Caring for Sick Dependents  
Retirement  
Retiree Health Care  
Marriage  
Separation from Employment  
Death of the Employee  
Time Off From Work  
Cultural and Global Perspective  
Conclusion  
Chapter Exercises  
 
4. Retirement Plans--Evolution and Design
Introduction  
Factors Affecting Retirement Plan Design  
Financing of Retirement Plans  
Fund Protection  
The Benefits Model  
Basic Design Features of a Defined Benefit Plan  
Defined Contribution Plans  
The Evolution Continues  
Evolution and the Small Employer  
Chapter Exercises  
 
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)  
Money Purchase Plan  
The Keogh  
Contemporary Issues in Retirement  
Retirement Planning--Will Your Employee Have Enough to Retire?  
Conclusion  
Chapter Exercises  
 
6. Health Care
Introduction  
Parties and Interests Involved in Health Care  
Employer-Sponsored Plans--Taxes, Financing, and Market Factors  
Financing  
Market Conditions  
Inflation  
Evolution of Health Care Plan Design--Some Principles  
The Benefits Model--Health Care  
Design Features of the Major Medical or Indemnity Plan  
Coordination of Benefits  
Bundling and Unbundling Plans  
Conclusion  
Chapter Exercises  
 
7. The Evolution of Health Care Plan Designs
Introduction  
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?  
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Insured Plans  
Third-Party Administrator (TPA) Selection  
Conclusion  
Chapter Exercises  
 
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  
Errors Increase Costs  
Our Culture, System, and Prices  
Profile of the Uninsured  
What Are Some Possible Solutions?  
New Health Care Delivery and Financing Systems--Health Care Reform  
Conclusion  
Some Perspective on the Bureaucratic Barriers to Health Care Reform  
Chapter Exercises  
 
9. Benefit Legal Compliance: Employee Retirement Income and Security Act (ERISA), Internal Revenue Code (IRC), and the Pension Protection Act of 2006 (PPA)
History  
The Basic Provisions of ERISA  
Tax Treatment of Retirement Plans  
Nonalienation of Benefits  
Freezes and Terminations  
Cash Balance Plans--Legal  
Phased Retirement  
Bankruptcy  
ERISA and IRC Enforcement  
Insuring Benefits When a Plan Is Terminated  
Conclusion  
Chapter Exercises  
 
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  
Some Perspective  
Design Principles  
Data, Metrics, and Retirement Plans--Some Examples  
Health Care and Measurement--Plan Design  
Evaluating Providers and Their Clinical Outcomes--Sponsors' Efforts  
Conclusion  
Chapter Exercises  
 
11. Equity Benefits
Introduction  
Retirement Plans and Stock  
Stock Purchase Plans  
Stock Option Plans  
Restricted Stock  
Stock Appreciation Rights  
Some Issues Pertaining to Equity Awards  
Performance-Based Equity Awards  
Does Equity Compensation Work?  
Chapter Exercises  
 
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  
Medicaid  
Perspectives on Medicaid  
Veterans' Health Care  
Mandated Benefits (COBRA, HIPAA, FMLA, USERRA)  
Chapter Exercises  
 
13. Global Benefits
Introduction  
Health Care in Europe  
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  
Chapter Exercises  
 
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  
Chapter Exercises  
 
15. Life and Disability Insurance, Pay for Time Not Worked
Life Insurance  
Disability Insurance  
Pay for Time Not Worked--Sick Days, Vacation, and Holidays  
Chapter Exercises  
 
16. Convenience and Accommodation Benefits, Benefits Administration
Convenience and Voluntary Benefits  
Making the Benefits Fit the Workplace  
Concierge Benefits  
Flexibility  
Employee Assistance Plan (EAP)  
Company-Sponsored Educational Benefits  
Administration of Employer-Sponsored Benefits  
Outsourcing Administration  
Information Systems for Benefits  
Plan Optimization and Communication  
Chapter Exercises  
 
Index
 
About the Author

Thomas E. Murphy

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