Employee Retirement Income Security Act
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Federal law that increased the responsibility of pension plan trustees to
protect retirees, established certain rights related to vesting and portability,
and created the Pension Benefit Guarantee Corporation
Pay ranges
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a set of possible pay rates defined by a minimum, maximum, and midpoint
of pay for employees holding a particular job or a job within a particular
pay grade
,no-fault liability
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an employee does not need to show that the employer was grossly
negligent in order to receive compensation, and the employer is protected
from lawsuits
Fair Labor Standards Act (FLSA)
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Federal law that establishes a minimum wage and requirements for
overtime pay and child labor
Group Insurance
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A type of health insurance in which all those insured have the same
coverage and pay a set premium
Stock options
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, rights to buy a certain number of shares of stock at a specified price
Pay Policy Line
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a graphed line showing the mathematical relationship between job
evaluation points and pay rate
Group Bonuses
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tend to be for smaller work groups
reward the members of a group for attaining a specific goal, usually
measured in terms of physical output
Piecework rate
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Rate of pay per unit produced.
Summary Plan Description (SPD)
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Give this one a try later!
Federal law that increased the responsibility of pension plan trustees to
protect retirees, established certain rights related to vesting and portability,
and created the Pension Benefit Guarantee Corporation
Pay ranges
Give this one a try later!
a set of possible pay rates defined by a minimum, maximum, and midpoint
of pay for employees holding a particular job or a job within a particular
pay grade
,no-fault liability
Give this one a try later!
an employee does not need to show that the employer was grossly
negligent in order to receive compensation, and the employer is protected
from lawsuits
Fair Labor Standards Act (FLSA)
Give this one a try later!
Federal law that establishes a minimum wage and requirements for
overtime pay and child labor
Group Insurance
Give this one a try later!
A type of health insurance in which all those insured have the same
coverage and pay a set premium
Stock options
Give this one a try later!
, rights to buy a certain number of shares of stock at a specified price
Pay Policy Line
Give this one a try later!
a graphed line showing the mathematical relationship between job
evaluation points and pay rate
Group Bonuses
Give this one a try later!
tend to be for smaller work groups
reward the members of a group for attaining a specific goal, usually
measured in terms of physical output
Piecework rate
Give this one a try later!
Rate of pay per unit produced.
Summary Plan Description (SPD)
Give this one a try later!
