Related Words

Final Salary: The basis of determining a person's pension entitlement in a final salary scheme and which normally refers to an occupational pension

Salary Grade: A compensation level expressed as a salary range, which has been established for each position within the organization.

Salary Freeze: A temporary halt to increases in salary due to financial difficulties experienced by a company.

Salary Compression: Pay differentials too small to be considered equitable. The term may apply to differences between (1) the pay of supervisors and subordinates; (2) the pay of experienced and newly hired incu . . . View Full Definition

Salary Range: A range of pay rates, from minimum to maximum, set for a specific pay grade.

Salary Reduction Plan: A salary reduction plan is a type of employer-sponsored retirement savings plan. Typical examples are 401(k)s, 403(b)s, 457s, and SIMPLE IRAs. A salary reduction plan allows you, as an emplo . . . View Full Definition

Wage And Salary Survey: A benchmark report consisting of market pay data for a variety of jobs conducted either on a local or nationwide basis. Used to evaluate an organization’s own current pay structures and as a . . . View Full Definition

Wage And Salary Administration: Procedures used for planning and administering organization-wide compensation programs for all levels of employees.

Salary Structure: A structure of job grades and pay ranges established within an organization. May be expressed as job grades or job evaluation points.

Final Adoption Decree: Legal document issued by the court that completes the adoption.