- Industry: Government; Labor
- Number of terms: 77176
- Number of blossaries: 0
- Company Profile:
A retirement plan in which the amount of the employer's annual contribution is specified. Individual accounts are set up for participants and benefits are based on the amounts credited to these accounts (through employer contributions and, if applicable, employee contributions) plus any investment earnings on the money in the account. Only employer contributions to the account are guaranteed, not the future benefits. In defined contribution plans, future benefits fluctuate on the basis of investment earnings. The most common type of defined contribution plan is a savings and thrift plan. Under this type of plan, the employee contributes a predetermined portion of his or her earnings (usually pretax) to an individual account, all or part of which is matched by the employer.
Industry:Labor
A person who files any notice of unemployment to initiate a request either for a determination of entitlement to and eligibility for compensation, or for a subsequent period of unemployment within a benefit year or period of eligibility.
Industry:Labor
A group of related occupations; examples: sales occupations and service occupations.
Industry:Labor
A listing of all units in the universe from which a sample can be drawn.
Industry:Labor
A measure of economic efficiency that shows how effectively economic inputs are converted into output. Productivity is measured by comparing the amount of goods and services produced with the inputs that were used in production.
Industry:Labor
A measure of the availability of a benefit. The National Compensation Survey (NCS) presents data on the percent of workers with access to, and who participate in, employee benefits. Access is defined as the percent of workers in an occupation who are offered a benefit. For example, an employee may have access to an employer-sponsored fitness center, but may or may not use it. Employees in contributory plans are counted as participating in an insurance plan or a retirement plan if they have paid required contributions and met any applicable service requirements. Employees in noncontributory plans are counted as participating regardless of whether they have fulfilled their service requirements.
Industry:Labor
A price index is a tool that simplifies the measurement of price movements in a numerical series. Movements are measured with respect to the base period, when the index is set to 100.
Industry:Labor
A point in time used as a reference point for comparison with some later period.
Industry:Labor
A person or business employing one or more persons for wages or salary; the legal entity responsible for payment of quarterly unemployment insurance taxes or for reimbursing the State fund for unemployment insurance benefits costs in lieu of paying the quarterly taxes.
Industry:Labor
A group of establishments that produce similar products or provide similar services. For example, all establishments that manufacture automobiles are in the same industry. A given industry, or even a particular establishment in that industry, might have employees in dozens of occupations. The North American Industry Classification System (NAICS) groups similar establishments into industries. NAICS is replacing the former Standard Industrial Classification (SIC) system.
Industry:Labor
