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Math Finance C06-L4

Wirtz Math Finance Chapter 6 Lesson 4

TermDefinition
employee benefits (C06L4 p310) Value-added options that an employer may choose to offer employees; may include forms of insurance, paid vacation time, etc.
insurance (C06L4 p310) A contract (policy) in which an individual or entity receives financial protection or reimbursement against losses.
paid vacation time (C06L4 p310) Paid time off that an employer may offer to employees as an employee benefit.
paid holiday time (C06L4 p310) Paid time off for holidays that an employer may offer to employees as an employee benefit.
retirement plans (C06L4 p310) A means that employers may offer as to save for retirement; these types of plans may include pensions or 401K.
stock ownership plans (C06L4 p310) A plan that allows employees to buy or receive company stock; offered as an employee benefit.
childcare leave (C06L4 p310) An employee benefit that allows employees paid time off to care for sick children or newborns.
family health care (C06L4 p310) A type of health insurance that covers all members of the immediate family for health care bills to the extent outlined in the coverage plan.
individual health care (C06L4 p310) A type of health insurance that covers only the individual to the extent outlined in the coverage plan.
pension (C06L4 p310, p456) A type of retirement plan where an employee receives compensation from an employer after retirement.
unemployment insurance (C06L4 p310) A government program that offers benefits to eligible employees who, through no fault of their own, have lost their job.
base period (C06L4 p311) A fixed period of time that most states use in an unemployment insurance formula to determine weekly benefits.
worker's compensations (C06L4 p311) Assistance to employees who are injured while working at their job; a program that is governed by state laws.