Chapter 10 - Employee Benefits And Services

Front 1

Benefit audit

Back 1

A system to control the efficiency of a benefit program.

Front 2

Canada Pension Plan (CPP)

Back 2

A mandatory, contributory, and portable pension plan applicable to all employees and self-employed persons in Canada, except those working for the federal government.

Front 3

Contributory plans

Back 3

Benefits that require the employer to contribute to the cost of the benefit.

Front 4

Defined benefits (DB) plan

Back 4

A benefits plan whose benefits are defined by a formula based on age and length of service, with the employer assuming responsibility for funding.

Front 5

Defined contribution (DC) plan

Back 5

A benefits plan based on amounts contributed by the employer and the employee, the final pension depending on amounts contributed, investment income, and economic conditions at retirement.

Front 6

Employee assistance programs (EAP)

Back 6

Comprehensive company program that seeks to help employees and their family members overcome personal and work-related problems.

Front 7

Employment Insurance (EI)

Back 7

A program to help alleviate the monetary problems of workers in Canada during the transition from one job to another.

Front 8

Flexible benefit programs

Back 8

Programs that allow employees to select the mix of benefits and services that will answer their individual needs. Also known as cafeteria benefit programs.

Front 9

Guaranteed annual wage (GAW)

Back 9

A benefits plan by which an employer assures employees that they will receive a minimum annual income regardless of layoffs or a lack of work.

Front 10

Health insurance

Back 10

Health and medical insurance provided by provincial governments with assistance from the federal government.

Front 11

Job sharing

Back 11

A plan whereby available work is spread among all workers in a group to reduce the extent of layoffs when production requirements cause substantial decline in available work.

Front 12

Long-term disability insurance

Back 12

A benefit plan providing the employee with an income in the case of long-term illness or injury.

Front 13

Online service delivery

Back 13

EAP services available to employees through the Internet and by intranet.

Front 14

Pension Benefits Standards Act

Back 14

A federal act regulating pension plans in industries under the jurisdiction of the Government of Canada.

Front 15

Portability clauses

Back 15

Allow accumulated pension rights to be transferred to another employer when an employee changes employers.

Front 16

Relocation programs

Back 16

A company sponsored benefit that assists employees who must move in connection with their job.

Front 17

Retention

Back 17

A company's ability to keep employees.

Front 18

Severance pay

Back 18

Payment to a worker upon permanent separation from a company.

Front 19

Short-term disability plan

Back 19

A benefit plan crediting a number of days to be used as sick leave.

Front 20

Supplemental unemployment benefits (SUB)

Back 20

Private plans providing compensation for wage loss to laid-off workers.

Front 21

Vesting

Back 21

A provision in employer-provided retirement plans that gives workers the right to a pension after a specified number of years of service.

Front 22

Workers' compensation

Back 22

Compensation payable by employers collectively for injuries sustained by workers in the course of their employment.