Once you complete this week's readings and review the lecture materials, answer the following questions in as much detail as possible. Write your answers in a Microsoft Word document.
The following laws are important in the area of compensation and benefits:
- FLSA of 1938.
- Social Security Act of 1935.
- ERISA of 1974.
For each of the laws listed above, answer the following three questions:
- What was the main reason for the passage of each law?
- How does each law affect compensation decision making process?
- How does each of these laws benefit the employee or employer?