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Employee benefits in the United States include relocation assistance; medical, prescription, vision and dental plans; health and dependent care flexible spending accounts; retirement benefit plans (pension, 401 (k), 403 (b) ); group term life insurance and accidental death and dismemberment insurance plans; income protection plans (also known ...
Nominal wages. Adjusted for inflation wages. Employer compensation in the United States refers to the cash compensation and benefits that an employee receives in exchange for the service they perform for their employer. Approximately 93% of the working population in the United States are employees earning a salary or wage.
The Federal Employees Health Benefits ( FEHB) Program is a system of "managed competition" through which employee health benefits are provided to civilian government employees and annuitants of the United States government. The government contributes 72% of the weighted average premium of all plans, not to exceed 75% of the premium for any one ...
The Employee Retirement Income Security Act of 1974 ( ERISA) ( Pub. L. 93–406, 88 Stat. 829, enacted September 2, 1974, codified in part at 29 U.S.C. ch. 18) is a U.S. federal tax and labor law that establishes minimum standards for pension plans in private industry. It contains rules on the federal income tax effects of transactions ...
Two-tier system. A two-tier system is a type of payroll system in which one group of workers receives lower wages and/or employee benefits than another. [1] The two-tier system of wages is usually established for one of three reasons: The employer wishes to better compensate more senior and ostensibly more experienced and productive workers ...
An EAP counseling program is a confidential employer-employee program that provides aid and support to individuals facing personal or work-related problems. Many companies have EAP counselors, or ...
Job satisfaction, employee satisfaction or work satisfaction is a measure of workers' contentment with their job, whether they like the job or individual aspects or facets of jobs, such as nature of work or supervision. [1] Job satisfaction can be measured in cognitive (evaluative), affective (or emotional), and behavioral components. [2]
The merit system determines the fitness of the candidate by the ability to pass a written competitive examination, given by a commission of examiners. The answers submitted by candidates must be unsigned, so as to obviate the possibility of favoritism on the part of the examiners. A list is made of the successful candidates, arranged in the ...