Question 1

A provision in pension plans referring to the money contributed by the employer that has been placed in a pension fund and cannot be forfeited for any reason is

Accepted Answer

vesting.

Question 2

In most provinces, employer pension plan contributions must be vested once the employee has completed ________ years of service.

Accepted Answer

2

Question 3

The following are all counselling services employers often provide to their employees except

Accepted Answer

real-estate counselling.

Question 4

A type of pension plan that specifies what contribution the employer will make to a retirement or savings fund set up for the employee is called a

Accepted Answer

defined contribution pension plan.

Question 5

A pension plan in which a certain amount of profit is credited to each employee's account, payable at retirement, termination, or death, is a

Accepted Answer

deferred profit-sharing plan.

Question 6

The looming labour shortage based on when baby boomers start retiring is resulting in employers seeking to retain older employees.Mel's organization is experiencing this issue.One program to support this issue is

Accepted Answer

phased retirement.

Question 7

Employers who offer a defined contribution pension plan must pay careful attention to their obligation to educate and inform plan members about

Accepted Answer

pension investments.

Question 8

Defined benefit pension plans pay out a benefit at retirement

Accepted Answer

that is based on years of service and final earnings.

Question 9

A formal employer program for providing employees with counselling and/or treatment programs for problems such as mental health issues, marital/family problems, legal problems, or stress is called a(n)

Accepted Answer

employee assistance program.

Question 10

Once an employee is vested, he or she will not receive any benefit from the pension plan until

Accepted Answer

retirement.

Question 11

A pension provision whereby employees who change jobs can transfer the lump sum value of the pension they have earned to a locked-in RRSP or their new employer's pension plan is

Accepted Answer

portability.

Question 12

In a contributory pension plan, contributions are made by

Accepted Answer

both the employer and the employee

Question 13

A job-related services benefit that is designed to help employees who must help elderly parents or relatives who are not fully able to care for themselves is known as

Accepted Answer

eldercare

Question 14

To date, the evidence regarding the actual effects of employer-sponsored childcare on employee absenteeism, turnover, productivity, recruitment, or job satisfaction is

Accepted Answer

positive, with respect to reducing obstacles in coming to work and improving workers' attitudes.

Question 15

A type of retirement plan that does not guarantee the eventual pension benefit an employee will receive at retirement, but only what the employee and employer contributions to the plan will be, is called a

Accepted Answer

defined contribution pension plan.

Question 16

Employers must pay careful attention to their obligation to educate and ________ plan members about pension investment.

Accepted Answer

inform

Question 17

The following are personal services that most employees will need at one time or another except

Accepted Answer

clerical services.

Question 18

The number of EAPs in Canada is growing because they are a proactive way for organizations to reduce

Accepted Answer

disability costs.

Question 19

Based on survey data, the following are all benefits to employers who institute subsidized day-care centres except

Accepted Answer

lower performance appraisals.

Question 20

The following are social and recreational opportunities extended to employees except

Accepted Answer

pre-retirement counseling.

Quiz 9: Employee Benefits and Services