21st Century Student FinLit -Getting Personal SW

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_ ______________________________________________________________________________ _ ______________________________________________________________________________ _ ______________________________________________________________________________ 6. Company A brags to Beverly that they have an ESOP . Beverly has no idea what that is. Tell her what it means and explain the basics. _ ______________________________________________________________________________ _ ______________________________________________________________________________ _ ______________________________________________________________________________ _ ______________________________________________________________________________ 7. Company A has a defined benefit plan . Company B has a defined contribution plan . Beverly thinks these are the same things. Explain the differences. _ ______________________________________________________________________________ _ ______________________________________________________________________________ _ ______________________________________________________________________________ _ ______________________________________________________________________________ 8. Company A provides 12 weeks of unpaid leave under the FMLA . What is FMLA and what can these benefits be used for? Would this benefit also be available at Company B which has less than 50 employees? _ ______________________________________________________________________________ _ ______________________________________________________________________________ _ ______________________________________________________________________________ _ ______________________________________________________________________________ 9. Company A is in California. Company B is in Massachusetts. Both companies provide workers compensation insurance which would compensate Beverly if she suffered a work-related illness or injury. However, in her free time, Beverly is a sky-diving break-dancer. She worries that if she gets injured while pursuing her hobby, she will be unable to work and will have no means of supporting herself. Which of these companies is located in a state that requires insurance to cover a worker for off-the job injury or illness ? What kind of insurance is that? _ ______________________________________________________________________________ PRODUCT PREVIEW

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THE 21st CENTURY STUDENT’S GUIDE TO FINANCIAL LITERACY

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