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Benefits and Beyond

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

Other Titles in:
Human Resource Development

March 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.

1. Introduction to Benefits
The Plan Sponsor's Dilemma

Employers and the Business Strategy

Learning Objectives

Topics Covered


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


Chapter Exercises

3. Lifecycle Events
Benefits Respond to Lifecycle Events



Employee Counseling

Childbirth and Adoption


Educational Assistance

Caring for Sick Dependents


Retiree Health Care


Separation from Employment

Death of the Employee

Time Off From Work

Cultural and Global Perspective


Chapter Exercises

4. Retirement Plans--Evolution and Design

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?


Chapter Exercises

6. Health Care

Parties and Interests Involved in Health Care

Employer-Sponsored Plans--Taxes, Financing, and Market Factors


Market Conditions


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


Chapter Exercises

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?




Insured Plans

Third-Party Administrator (TPA) Selection


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


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)

The Basic Provisions of ERISA

Tax Treatment of Retirement Plans

Nonalienation of Benefits

Freezes and Terminations

Cash Balance Plans--Legal

Phased Retirement


ERISA and IRC Enforcement

Insuring Benefits When a Plan Is Terminated


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


Chapter Exercises

11. Equity Benefits

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


Perspectives on Medicaid

Veterans' Health Care

Mandated Benefits (COBRA, HIPAA, FMLA, USERRA)

Chapter Exercises

13. Global Benefits

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


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

About the Author

For instructors

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ISBN: 9781412950893
ISBN: 9781412950886