Related Words

Statutory Benefits: Benefits that are mandated by federal or state laws, such as Social Security, unemployment insurance and workers’ compensation.

Statutory Investment: Used in the context of general equities. Standard deviation of the difference between the portfolio return and the desired investment benchmark return.

Statutory Law: The laws, rules and regulations enacted by legislatures and other governing bodies.

State Mandated Benefits: When a state passes laws requiring that health insurance plans include specific benefits.

Residual Benefits: Residual benefits can help make up the difference in income if an employee is able to work, but limited in his/her responsibilities due to his/her disability.

Portable Benefits: Benefits or accumulated assets that you can take with you when you leave your employer or switch jobs are described as portable. For instance, if you contribute to a 401(k), 403(b), 457, or . . . View Full Definition

Prescription Drug Benefits: Typically a provision included in a group health plan designed to provide covered employees and their dependents with payment assistance for medically prescribed drugs.

Statutory Lien: A lien imposed on property by statute—a tax lien, for example—in contrast to an equitable lien, which arises out of common law.

Statutory Merger: An investment that a trustee is authorized to make under state law.

Supplemental Unemployment Benefits (SUB): Typically found in collective bargaining agreements. SUB pay benefits are taxable payments form a fund which can be combined with state unemployment insurance benefits during periods of tem . . . View Full Definition