BUS 109 Employee Benefits for Personal Finance • 1 Cr.
Part of a series of courses that present core components of personal finance applicable to individuals and financial service workers. Outlines basic benefits offered by firms. Students become familiar with what these benefits achieve and how to use them for long-term financial planning.
After completing this class, students should be able to:
- Review a social security summary statement and evaluate how benefits are computed. (1)
- Determine how unemployment benefits are given. (2)
- Describe major employee benefits (medical, disability, life, etc.) and what they cover (3,4)
- Analyze a case study of health insurance and determine relevant costs (3,4)
- Evaluate the differences in risk between three or more medical insurance packages (3,4)
- Taking the employer’s perspective design an employee benefits package using relevant components – calculate the cost to the employer and the benefit to the employee (3,4,5,6)
- Evaluate the financial benefits of spending accounts (5)
- Calculate the after-tax benefit to the employee of 401K, profiting sharing or pension benefits (6)