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OSHA, Benefit Pension Plan, & Contribution Pension Plan Essay

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Who is responsible for establishing OSHA standards? The “Congress” contributed largely to the establishment of “OSHA Standards” (US Department of Labor Occupational Safety and Health Administration, 2007, n. p. ). If it weren’t for the “Occupational Safety and Health Act” passed by the Congress and signed by President Richard Nixon on 1970, then “OSHA Standards” would not have existed (US Department of Labor Occupational Safety and Health Administration, 2007, n. p. ). If an employer is unable to comply with an OSHA standard, what alternative is available to the employer?

In cases wherein an employer cannot meet the OSHA standard, there is actually an alternative to this dilemma (Department of Labor and Industry State of Minnesota, 2001, n. p. ). The employer may appeal that some changes be made with regards to the “requirements of a particular OSHA standard” if he or she cannot comply with the directives of that standard and hopes to utilize another manner of agreement/conformity (Department of Labor and Industry State of Minnesota, 2001, n. p. ).

What is the difference between a benefit pension plan and a contribution pension plan? A “contribution pension plan” gives individual account for each member (The New York Times Company, 2008, n. p. ). The benefits the member will receive are based upon how much has been contributed by the member (The New York Times Company, 2008, n. p. ). This means that monthly retirement benefits are not set at a “fixed rate” since “income, expenses, gains and losses” will also be taken into consideration (The New York Times Company, 2008, n. . ).

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On the other hand, a “benefit pension plan” sets a fixed monthly retirement benefit (The New York Times Company, 2008, n. p. ). Here, salary and service will be taken into consideration (The New York Times Company, 2008, n. p. ). In addition to that, a member is risk-free when it comes to investments (The New York Times Company, 2008, n. p. ).

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