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“to provide students with a perspective on
the integration of the functional areas of business, while maximizing the use
of analytical skills and knowledge for decision making in a contemporary global
business environment”
DEPARTMENT OF MANAGEMENT AND GENERAL BUSINESS
MGT 123 -- MANAGING EMPLOYEE BENEFITS
Undergraduate - Spring 2003
Instructor: Janet Lenaghan
Office
Hrs: Saturday -
Office Location: Room 053 Weller Hall
Office Ext.: 36574
E-mail address: PERJAL@HOFSTRA.EDU
Department of Management & General Business
Weller Hall, Room 228.
Extension: 35726
Department Chair -- Dr. Bruce Charnov
DESCRIPTION
OF COURSE A comprehensive analysis of design,
funding and administration of employee benefit plans. Special interest is given
to the contemporary issues, including pending legislation and current
trends. Topics include the environment
of employee benefit plans, social insurance, defined contribution plans,
defined benefit plans, taxation, health and welfare plans, and plan
communication. Each topic will be
discussed from a public, private, multi-employer and international view.
PREREQUISITES OF COURSE MGT 101 and junior class
standing or above.
REQUIRED TEXT:
ASSIGNED
OUTCOME
OBJECTIVES AND METHODS OF ACHIEVING THE OBJECTIVES
To acquaint the student
with the field of employee benefits. Upon completion of the class,
the student should be able to understand the basic issues involving an
employee’s total compensation package including government mandated benefits as
well as employer sponsored benefits; the interaction between all employee’s
benefits including financing, needs-assessment, communication and design, and
legal issues. The student should be more
aware of current trends and issues in the field of employee benefits including
Congressional discussions, legislative updates, and societal concerns. Lastly,
throughout the semester, discussions will include different career
possibilities in the employee benefit field.
ATTENDANCE
POLICY It is expected that each student attends
class and be prepared to discuss the assigned material. If an absence is unavoidable you will be
expected to obtain the information discussed during the missed class and be
prepared for the next topic. However, more than three absences will result in your final semester grade being lowered. Equally as important to attending class is
that you arrive on time. If you are late, please enter the room without any
disturbance. If you arrive after
attendance is taken, you will be marked absent.
Remember participation is 10% of your grade - if you are not in class
you will lose points.
METHODS
OF EVALUATING STUDENTS
Exams - 75% of final grade
There will be three (3) exams each worth
twenty-five percent of your final grade.
The exams will test your knowledge of the covered material including
class discussion and assigned readings.
You will be expected to apply what you have learned and will be graded
on your understanding of the material.
The format of the exams will consist of short answer questions and
essays.
Group
Project - 15% of final
grade
A semester project will be assigned on a
group basis that will consist of an oral presentation. Each group will present
their topic to the class. The
presentation cannot exceed 20 minutes in duration. This project will be a case study and
require the group to act as employee benefit consultants. All projects must be approved and each group
must submit a disk containing the PowerPoint presentation. Projects will be graded on the following
criteria:
·
Demonstrated
knowledge of concepts and course material
·
Creativity
and Effort
·
Content
·
Quality
·
Presentation
skills
Participation - 10% of final grade
We learn from each other. It is critical to the learning process that
each person expresses their own thoughts and views on the subject matter. In order to do so you must be prepared for
class by reading the assigned material. Those who attend class consistently and
MEANINGFULLY CONTRIBUTE to the
discussion will receive a high participation mark. Remember it is not enough just to attend
class, you need to actively participate!
UNIVERSITY
POLICY ON INCOMPLETE GRADES A student unable to complete the course may,
with the permission of the instructor, receive a grade
of incomplete (INC). The instructor will
permit the student to complete and submit the missing work no later than the third week of the following semester. All undergraduate students may accumulate up
to nine credits of INC grades without penalty.
Past this nine-credit limit, all subsequent INC grades not made up
convert to F’s at the end of the semester following the one in which they were
assigned.
ASSIGNMENTS
February
1 – February 8
Topic: Introduction,
Environment of Employee Benefit Plans and Employee Benefit Planning
Read: Chapters
1 & 2
Initial discussions will focus on defining
employee benefits, and on examining the factors influencing the rapid growth of
these plans. Discussion continues with a
review of the basic concerns in designing employee benefits plans. Students will be provided with a systematic
approach to analyzing an employer's overall total employee benefit
package. The fundamental approach will
concentrate on identifying employees' needs, setting objectives, and managing
loss exposure within the employer's fiscal constraints. Communication
strategies will be presented. The topic
will conclude with a debate on outsourcing benefit administration. All of the
above will be discussed within the context of the legal environment in which
employee benefit plan operate.
February
8 – February 15
Topic: Social Insurance Programs
Read: Chapters
3 & 4
This section covers the fundamentals of
several social insurance programs. It is
essential to understand social insurance programs because their successful
coordination with private benefits programs is vital to sound employee benefits
planning. Discussion begins with a look
at Social Security benefits including the objectives, requirements and
financing of the program. Other social
insurance programs discussed will include workers compensation, unemployment
and temporary disability.
February
22
Topic: Group
Insurance Environment and Group Life Insurance
Read: Chapters
5 -7
Initial discussions will serve as the basis
for the next few chapters by having a discussion on the characteristics of group
insurance and how it differs from individual insurance. The first group insurance to be discussed
is death benefits. The discussion will
center on the most important considerations involved in the design of a death
benefit plan. Term and Universal Life Insurance will be reviewed in terms of
design, provisions, financing, administration, benefits, and tax implications.
March
8 – March 29
Topic: Medical, Dental and Other Group Insurance
Plans
Read: Chapters
9 - 13 and applicable sections of Chapter 14 & 15
This section begins with a brief look at the
current environment of medical benefit plans including recent trends. The providers of group medical coverage will
be examined including the various products currently available. This includes a comprehensive review of
managed care options such as HMOs, POS, and PPOs and
other alternatives. Each will be
discussed in terms of models, financing, provisions, contracting, regulations,
and evaluation. Current trends in medical
insurance will be examined. Topic will
conclude with a review of other group benefits such as dental, long-term care,
and various work-life benefits.
EXAM
#2 - CHAPTERS 9 - 13 & APPLICABLE SECTIONS of 14 & 15
April
5 – May 3 *
Topic: Retirement
Plans and Cafeteria Plans
Group
Presentations
Read: Chapters
17-20 and applicable sections of chapters 22-23.
This section focuses on the general
requirements that must be met by qualified pension plans with respect to
nondiscrimination, funding, vesting, eligibility, distributions and plan
coverage. The benefits of a qualified
plan and the regulatory structure in which they must operate will be examined.
Discussions continue with an in-depth look at retirement plan design,
differentiating between defined contribution and defined benefit plans and the
criteria used to determine which design to use.
Further discussions will center on the different plan provisions
including retirement age, contributions, limitations, coverage, survivorship
benefits, accrual rates and integration with social security. Profit sharing and other similar plans will
also be presented. Discussion will continue with a comprehensive analysis of
cafeteria plans including purpose, design, obstacles, tax implications,
funding, election requirements and communication. Discussion will examine the legislative
environment, specifically eligibility criteria and cost issues.
*
April 19 – Class not in session – Spring Recess
CLASS
NOT IN SESSION – SPRING RECESS
Topic: Group Presentations
EXAM #3 - CHAPTERS 17-20 and applicable sections of chapters 22-23.