List the steps involved in the design of a point plan.
What will be an ideal response?
The six steps involved in the design of a point plan are:
1. Conduct job analysis.
2. Determine compensable factors.
3. Scale the factors.
4. Weight the factors according to importance.
5. Communicate the plan and train users; prepare manual.
6. Apply to non-benchmark jobs.
You might also like to view...
Which of the following is/are true regarding the accounting for defined contribution plans?
a. When pension assets equal pension liabilities and the expected rate of return on pension investments equals the discount rate used to compute the projected benefit obligation, the amounts offset each other. b. When the interest cost exceeds the expected return on pension investments, either employer contributions or future earnings on pension plan investments must make up the difference. c. Computing pension expense (or credit) using the expected return (not the actual return) rests on the view that pension plans should take a long-term perspective and generate earnings from investments based on a long-term expected rate of return. d. Annual deviations from the long-term expected rate of return should not flow through to net income as they occur. e. all of the above
Ruth is tired of performing the same task over and over again. She decided to spend some time trying to find a work-around to her boring problem by creating a macro or automated function using Keyboard Maestro. This will get the job done for her quickly and help her creative juices to flow. This is an example of which component of creativity?
a. Incentive b. Creative thinking skills c. Motivation d. Expertise
A good method for holding down premiums on disability income protection is to
A) shorten the benefit period. B) reduce the monthly benefit. C) lengthen the elimination period. D) look for generally available federally-subsidized coverage.
If your bank offers a 5% annual rate of return compounded annually, then at the end of one year your $1,000.00 deposit would grow by $50.00 to $1,050.00
However, in the second year, your deposit would increase by $52.5025 to a total ending value of $1,102.50. Explain why the second year earns more interest on the investment than the first year. What will be an ideal response?