DB Replies
Ferrelemess8u
Posttoassignment.docxGroup Discussion Board Forum Instructions
For this collaborative discussion board, the instructor will place you into a group at the beginning of the course. For each forum, you will create 1 thread of at least 500 words. You must support your assertions with at least 2 citations other than the textbook; the Bible may be 1 of those sources. In addition to the thread, you will reply to the thread of at least 1 classmate. Each reply must be at least 250 words. Citations for the replies are required and encouraged. Everything must be in current APA format.
For each forum, submit your thread by 11:59 p.m. (ET) on Thursday of the assigned modules/weeks, and submit your replies by 11:59 p.m. (ET) on Monday of the same modules/weeks.
1 day ago
Kristen Sullivan
Ethics Case 17-6
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Kristen A. Sullivan
Acct 302 DB Group 3: Ethics Case 17-6
29853643
July 17, 2018
Ethics Case 17-6: 401(k) Contribution Plans
Many employers offer pension plans to their employees as a compensatory benefit to be received during the employees’ retirement years. Although, it is not mandatory for employers to offer pensions, many do in an effort to attract strong talent and encourage employee tenure and loyalty. According to Intermediate Accounting, pensions are classified into two structures: defined contribution or defined benefit plans (Spiceland, Nelson, & Thomas, 2018). A defined contribution plan is structured so that a set amount (or percentage) is deducted from the employees' paychecks per pay period. As well, the employer contributes to the plan by either matching the amount (or percentage) contributed by the employee. Together, these funds grow in an investment account normally established by investment choices made by the employee. The plan is very straight forward and easy to account for by the employer.
Assume a small employer of twenty employees offers a 401(k) plan [a type of a defined contribution plan given its name from the Tax Code that details its structure (Spiceland, et. al, 2018)]. The employer takes deductions from the employees’ wages on a per-pay period basis and holds those funds until they are paid/transferred to the investor to be disbursed to the employees’ individual investment accounts. Likewise, assume a large corporation offers a 401(k) matching pension benefit and the amount withheld from employees’ paychecks on a weekly basis equals $1,000,000. Again, the funds withheld from the employee are in the possession of the company account until they are transferred to the trust to split into the individual employee’s investment accounts. So, when should the employer transfer the employee contribution funds to the trust?
Internal Revenue Service 401(k) Resource Guide, Plan Sponsors – Starting Up Your Plan, answers that question.
The Department of Labor requires that the contributions must be made on the earliest date that the employer is able to segregate the amounts from the employer’s general assets but no later than the 15th day of the month following the month in which the participant would have received the amount in cash if not for the deferral election. (IRS, 401(k) Resource Guide, April 24, 2018).
It goes on to explain that the 15th of the month is not a deadline but it “sets the maximum deadline. If the employer does not make the deposits timely, the failure constitutes a prohibited transaction.” (401(k) Resource Guide, 2018). Prohibited transactions incur a penalty tax the employer is held responsible to pay (401(k) Resource Guide, 2018). This initiative by the Department of Labor protects the employee; it insures the funds being deducted from paychecks are not being used for other purposes by the employer.
To further explain the transfer of funds, the “Department of Labor rules require that the employer deposit deferrals to the trust as soon as the employer can; however, in no event can the deposit be later than the 15th business day of the following month"(IRS, 401(k) Plan Fix-It Guide, Jan. 16, 2018).
In regards to this ethics case study, the employer historically transferred the employee funds on a timely and acceptable basis. Currently, the company forwards the employee funds on a quarterly basis. This payment schedule clearly violates the rules surrounding the employer’s obligation for the transfer of funds to the trust. It is important to note, the employer’s matching contribution does not follow the same payment schedule requirements. The employer has limited flexibility to their payment responsibility.
Contributions made by the employer to match deferrals may be made at the time of the elective deferral contribution or later, but not later than the filing deadline of the employer’s income tax return, including extensions (401(k) Plan Fix-It Guide, 2018).
In this case study, it could be fairly assumed the company changed their payment schedule, because they chose to use the employee funds as a short-term investment tool to gain interest revenue. Regardless, the action to address the timely payment and transfer of employee contributions is of crucial importance for two reasons: 1) As stated above, the Department of Labor has regulations in place that require payments be made on a timely basis, and 2) the employees are under the assumption their payroll deductions are being invested and not being held for the benefit of company gain. There is a real ethical issue that the company is falsely utilizing the employee’s funds.
The wisdom in Proverbs 28:20 speaks much truth to this case. “A faithful person will be richly blessed, but one eager to get rich will not go unpunished” (Bible, NIV). Utilizing employee 401(k) contributions as a means to earn revenue is deceiving to its employees. God does not favor those who participate in such untruthful acts, and as Proverbs states they “will not go unpunished”. A proposal should be made to immediately take action and enforce the requirement that all future payments follow the rules set by the Department of Labor.
REFERENCES
Spiceland, J. David, Nelson, Mark W., Thomas, Wayne B. 2018. Intermediate Accounting Ninth Edition. McGraw-Hill Education, New York City, New York.
Internal Revenue Service, April 24, 2018. 401(k) Resource Guide – Starting Up Your Plan. Retrieved from https://www.irs.gov/retirement-plans/plan-sponsor/401k-resource-guide-plan-sponsors-starting-up-your-plan.
Internal Revenue Service, January 16, 2018. 401(k) Plan Fix-It Guide – You haven’t timely deposited employee elective deferrals. Retrieved from https://www.irs.gov/retirement-plans/401k-plan-fix-it-guide-you-have-not-timely-deposited-employee-elective-deferrals.
Discussion Board Forum Instructions
In Modules/Weeks 3, 4, 6, and 8, you will participate in a Discussion Board Forum based on concepts from the required reading for a given module/week, organizational situations from your own current, professional experience, and your own research. Each forum is completed in 2 parts: a thread and 2 replies to classmates’ threads. Below are the general requirements for each forum.
Note: The audio PointeCast lessons that are required for citing in both posts are not to be confused with the PowerPoint summaries from the textbook. Also, remember that a major theme of these lessons is how the biblical idea of covenant can provide a solid foundation for organizational leadership and behavior. When you cite them, make sure you build upon that major theme and apply it to the ideas in your posts.
Thread: Find a business problem from your own professional work experience or from peer-reviewed journal articles and apply 2 concepts in your thread from the required reading for that module/week. Each thread must be 500–750 words.
The following 4 sources must be included in your thread:
· The textbook;
· At least 1 peer-reviewed journal article;
· 1 passage of Scripture; and
· At least 1 reference from the lesson presentation found in the corresponding modules/weeks in a manner that captures the essential ideas of those lessons.
If you choose to research a professional situation, you must cite all sources you used in current APA format.
Replies: Provide 2 thoughtful replies to the threads of classmates. Each reply must include an analysis of your classmates’ threads, based on any experience from your own professional career (if applicable) that might be relevant. All replies must be 200–250 words. Also, be sure to integrate the required reading in a logical and relevant manner.
You must cite:
· The textbook or at least 1 peer-reviewed journal article;
· 1 passage of Scripture; and
· The audio lesson presentation.
Submit your thread by 11:59 p.m. (ET) on Wednesday of the assigned module/week, and submit your replies by 11:59 p.m. (ET) on Sunday of the same module/week.
The only exception for the Sunday deadline will be discussion forum 4 in the final week of class, which will end on Friday. Peer replies will be due Friday 11:59 p.m. (ET) on the final day of class in Module 8.
9 hours ago
Quinton Courson
Job Satisfaction and Organizational Commitment
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Job Satisfaction and Organizational Commitment
BMAL 500-D09
Quinton Courson
Liberty University
A business issue that I have experienced in the work place as a logistics contractor is job dissatisfaction. The company I work for acted in total opposite of the Five Models of Job Satisfaction. For the first model of “Need Fulfillment”, this company understood my needs, but chose to agree to work towards my need when I initially agreed to take the position. After starting work however the management disregarded all of my needs, and provided no explanation. For example, I took a position I was over qualified for with the expectation I would be able to move up, but once I started I found out there was not a position I could move into unless someone were to retire or quit. For “Met Expectations” I applied for that position based off a job description that was very detailed and would have covered a wide range of my previous experience. After starting I found another surprise. I was told by my supervisor that I would solely be conducting a physical inventory of the equipment within the organization. Conducting a physical inventory was one small area stated in the job description. For the “Value Attainment” model, there was no existing structure in place, and it was not until I received a quarterly counseling and brought up the lack of structure that form of structure was put in place. The example here was, every day for months my coworkers and I would show up to work with no assigned tasks to work on. It would not be until our supervisor came up with something to go do. Regarding the “Equity” model, due to nepotism within the organization, and long established “clicks” if one was not in the click or family they were not treated fairly. I witnessed a gentlemen be hired for a position that he had no previous experience in, starting at a higher level pay level that turned out to be the boyfriend of the managers daughter. For the last model of “Dispositional/genetic components” the management hired employees and would place them in positions that did not fit the employee’s personality or strengths as a logistician. For an example of this the department that I was a part of engaged with customers through the company we supported. Two of my coworkers had no experience working along with the customer, and used language and acted in ways that was very unprofessional and sometimes embarrassing to be around. While I could go on with more, this clearly shows the level of job dissatisfaction that I once experienced. Shortly after taking that position I started looking for a new job, and it wasn’t till roughly a year later that I found the company that I’m currently with, and things have been great.
Employee “Job Satisfaction” should be very important to a company! A survey conducted by the Society for Human Resource however, revealed that 86 percent of employees were satisfied with their jobs in 2014 which was the highest level recorded since 2004 (Kinicki, A., 2018). While 86% sounds like a good percentage, the fact it took 10 years to reach that point is astonishing. This increase in job satisfaction could be related to employees providing feedback to managers and the organizations through a variety of surveys related to how they feel about the organization.
Another concept that ties into “Job Satisfaction” is an “Organizations Commitment”. A verse from the Bible that provides a description of a company’s “Organizational Commitment” can be found in Colossians, “Whatever you do, work heartily, as for the Lord and not for men, knowing that from the Lord you will receive the inheritance as your reward” (Colossians 3:23).
My previous employer disregarded its employee’s commitment to the organization, and in my opinion took the approach of quit if you don’t like it here, we’ll find someone else. I was personally told that if I find a better opportunity than I should take it, and that they would support it. It was truly bewildering to hear this coming from the same person who hired me. Organizations should be supporting their employees in hopes they would continue their employment with the organization, and be motived to the extent of moving the company towards its organizational goals and decisions (Kinicki, A., 2018). In return, employees should think and positively about the company they work for, and want to work for that company because it makes happy, and feel like their part of a team, not solely for the financial compensation (BMAL 500, Presentation 2).
References:
Kinicki, A., & Fugate, M. (2018). Organizational behavior: A practical, problem-solving approach plus Connect. McGraw-Hill. ISBN: 9781260180909
Liberty University, BMAL 500, Presentation: Lesson 2 – Individual Behavior in the Organization
9 hours ago
Isaiah Isaac
Isaiah's Discussion Board Week 3
Top of Form
Discussion Board Job Dissatisfaction
Isaiah Isaac
BMAL 500
7/18/2018
Dr. Drew
Discussion Board Job Dissatisfaction
Job dissatisfaction can become a situation that will constantly keep employees looking for a job with a different department or a different company. Focusing on the companies’ culture will determine the mood of employees as well as production of the task. In previous jobs; I worked as a wireless consultant, admission counselor and an advocate for a university. The most dissatisfaction as an employee was as an advocate. I say this because I witness favoritism from upper management as well as unappreciation in the work when I knew it was accurate and completed correctly. Pressure on the job to complete a task can be stressful. “Job stressors lead to job dissatisfaction and a greater tendency to leave organization (Nawaz et al , 2014 para. 2).”
Managers should take time after each day to reflect on how situations are handled as well as how conversations with employees under the manager were conducted. Focusing on job satisfaction, “Managers and organizations measure job satisfaction in one of two ways. The simplest is to use a single overall rating, such as, “How satisfied are you with your job?” People respond on a rating scale that might run from (1) very dissatisfied to (5) very satisfied (Kinicki, A & Fugate, M, 2018 pg. 62).” This will develop a strong understanding on how employees feel in a work environment as well as how to solve issues to make employees happy and save retention of employees. If upper management does not have ethical in culture; the work environment will fall apart due to unethical situation. Kinicki et al (2018) mentioned, “Organizational commitment exists to the degree that your personal values match the values that pervade your company’s organizational culture (Kinicki, A., & Fugate, M, 2018 pg. 56).”
Working as an advocate required to meet numbers on productivity. The focus is retaining students and each advocate must meet specific goals to meet the requirements. Understanding that requirements in the position as an advocate is required to meet the duties required for the job. Leaders of an organization must develop a positive perception. Choudhary (2016) explained, “More importantly, a leader plays a critical role in employee performance. Since a leader gives meaning or shapes to the “reality” in which an employee performs, employee performance is rooted not only in her job (job characteristics) but also in the leader’s attribute of emotion management ability (Neetu Choudhary, 2017 para. 1)”
Leaders in a work environment must focus on employees because this is how task and goals are completed. Making sure the culture of an organization is implemented must be explained in detail, so employees will be successful. The leader of the advocates in our work environment, focused on different ways to make the situation better by attending leadership meetings as well as developed motivation to better the environment. Job Rotation as mentioned in the Presentation: Lesson 3 -Motivational in the Workplace was implemented by allowing advocates to only work a half day on Friday. This was extremely helpful because this allowed a rotation of employees to have a break, especially on a Friday. Respecting leaders who focus on growing from mistakes as well making things correct is someone to work for in an organization. 1 Samuel 2:26 said, “And the boy Samuel continued to grow in stature and in favor with the LORD and with people (New International Version).”
Research
Kinicki, A & Fugate, M. (2018 pg. 62). The Causes of Job Satisfaction. In Organizational behavior: A practical, problem-solving. McGraw-Hill. ISBN: 9781260180909.
Kinicki, A., & Fugate, M. (2018 pg. 56). Organizational behavior: A practical, problem-solving approach plus Connect . In Key Workplace Attitudes. McGraw-Hill. ISBN: 9781260180909. .
Nawaz et al . (2014 para. 2). JOB STRESS EVALUATION DURING PROJECT LIFE CYCLE (PLC) ON WORKING EMPLOYEES. Retrieved from Pakistan Journal of Science; Lahore Vol. 66, Iss. 4: https://search-proquest-com.ezproxy.liberty.edu/docview/1658710196?pq-origsite=summon&accountid=12085
Neetu Choudhary. (2017 para. 1). Employee job performance: The interplay of leaders’ emotion management ability and employee perception of job characteristics. Retrieved from JOURNAL OF MANAGEMENT DEVELOPMENT VOLUME 36, ISSUE 8 EMPLOYEE JOB PERFORMANCE: https://www-emeraldinsight-com.ezproxy.liberty.edu/doi/full/10.1108/JMD-10-2016-0195
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