VII JournalInstructionsIn preparing a compensation plan, an organization must consider all the laws and regulations associated with the pay of special groups (i.e., supervisors, corporate directors, and executives). However, do you think compensation for special groups is excessive? If so, why? Address a law or regulation that is specifically related to special groups that you think is vital. Why is it so important to you?Your journal entry must be at least 200 words in length. No references or citations are necessary.Part 2.QUESTION 1Explain alternative rewards systems for unions and their purpose.Your response must be a minimum of 200 words in length.QUESTION 2Address how Employee Retirement Income Security Act of 1974 (ERISA) plays a role in executive benefits.Your response must be a minimum of 200 words in length.QUESTION 3Summarize and explain the influence that three of the following laws or regulations play in special group compensations:Davis Bacon Act of 1931Walsh-Healey Act of 1936Equal Pay Act of 1963Lily Ledbetter Fair Pay Act of 2009Your response must be a minimum of 200 words in length.QUESTION 4Address the role of unions in wage and salary policies and practices.Your response must be a minimum of 200 words in length.