Legally required benefits represents a form of ________.

Question

Quizplus · Accepted Answer

A)Legally required benefits historically provided a form of social insurance.Prompted largely by the rapid growth of industrialization in the United States in the early 19th and 20th centuries and the Great Depression of the 1930s,initial social insurance programs were designed to minimize the possibility that individuals who became unemployed or severely injured while working would become destitute.In addition,social insurance programs aimed to stabilize the well-being of dependent family members of injured or unemployed individuals.Furthermore,early social insurance programs were designed to enable retirees to maintain subsistence income levels.These intents of legally required benefits remain intact today.

Legally Required Benefits Represents a Form of ________