CEBS

Any form of compensation other than direct wages paid to employees

Broad view of employee benefits

Any form of compensation other than direct wages that results from the employment relationship that is not underwritten or paid by the government

Narrow view of employee benefits

A legally mandated benefit paid by the employer that is excluded in the narrow view

Social Security (including OASDI), Medicare, unemployment insurance, workers compensation

A 1948 NLRB legal case that stipulated the duty to bargain in good faith over wages; also included insurance and fringe benefits such as pensions

Inland Steel

A NLRB case that ruled that “wages” in good faith bargaining include health and accident plans

W.W. Cross & Co. v. National Labor Relations Board

An alternative name for the Labor Management Relations Act

Taft-Hartley Act

This Act set the framework for goodfaith collective bargaining over wages, hours, working conditions, terms of employment, and benefits

Labor Management Relations Act

A stipulation of categories of individuals that will be covered in a benefit plan. Categories can be based on employment status and dependent status.

Categories of persons covered by employee benefit plans

A benefit funding option where the employer pays all the cost

Non-contributory benefit plans

A benefit funding approach where the employer and employees share the cost

Contributory benefit plans

A systematic method of analysis of an employer’s benefits program that analyzes the program’s ability to meet participants’ needs, manage loss exposures, and fit compensation and cost parameters

Functional approach

A program that includes all types of employer-offered compensation, longterm incentives, and employee benefits

Total compensation philosophy

A benefit philosophy that ties salary or pay levels of employees to their tenure

Compensation/ service-oriented philosophy

A benefit philosophy where the employer focuses on the needs of the participants

Benefits/ needs-oriented approach

Disability, death, and property damage insurance can all be provided to employees to prevent what?

Serious loss exposures

The formula used to determine the level of retirement or disability pay an employee may receive expressed as a percentage

Replacement ratio

Benefits that are provided to protect employees and dependents against financial loss including life insurance and disability income have this type of orientation

Protection-oriented benefits

What type of orientation do pension plans, profit-sharing plans, and other savings-type plans that reward employees for length of service have?

Accumulation-oriented benefits