Cebs - Study guides, Class notes & Summaries

CEBS GBA Exam 1 Question with complete solution 2023Broad view of Employee Benefits (Mod 1.1) Considers Employee Benefits to be virtually any form of compensation other than direct wages paid to Employees (Ex: WC, Unemployment, State DI, SS, Vacation, Holidays, 401K/Retirement, Employer share of Medical, Severance Pay, Child Care, etc..) Narrow view of Employee Benefits (Mod 1.1) Any type of plan sponsored or initiated by Employees and Employers and engaged in providing benefits that r...

Broad view of Employee Benefits - Answer- This view sees employee benefits as virtually any form of compensation other than direct wages. Components of the Broad view of Employee Benefits - Answer- 1. Employer's share of legally required payments (Social Security and Medicare, unemployment insurance, and worker's compensation benefits) 2. Payments for time not worked (e.g. paid rest periods, paid sick leave, paid vacations, holidays, parental leave, etc). 3. Employer's share of medical ...

1.1 Distinguish between the broad view and the narrow view of employee benefits - ANSWER The broad view defines employee benefits as anything other than direct compensation, including both government-mandated benefits and private plans. (social security, pension plans etc.). The narrow view holds that employee benefits are any benefit sponsored unilaterally or jointly by employers and employees that is not subsidized by the government. 1.2 List the categories of benefits that generall...

An employee welfare benefit plan has four basis elements. What are these elements? (Mod 1.1) - 1) There must be a plan, fund or program. 2) The plan, fund or program is established or maintained by an employer. 3) The plan, fund or program is for the purpose of providing specifically listed benefits, through the purchase of insurance or otherwise. 4) Benefits are provided to participants and beneficiaries. Explain how a "plan, fund or program" for an employee benefit plan is defined (Mod...

Section 79 - Answer- The annual cost of insurance can represent taxable income to the employees Section 83 - Answer- Taxation of property transferred in connection with the performance of services Section 125 - Answer- Permits the adoption of cafeteria or flexible benefit plans and provides that an employee can choose between taxable and non taxable compensation elements without problems of constructive receipt if certain conditions are met. Constructive Receipt - Answer- Income that is...

CEBS GBA EXAM 3 QUESTIONS AND ANSWERS

CEBS GBA EXAM 1 QUESTIONS AND ANSWERS