Phr Module 4

Front 1

401(k) Plans

Back 1

Plans that allow employees to make tax-favored pay deferrals toward retirement savings through a payroll deduction plan.

Front 2

403(b) Plans

Back 2

Plans that allow exmployees of certain tax-exempt organziations to contribute pretax dollars toward retirement savings.

Front 3

457 Plans

Back 3

Plans that allow employees of states, political subdivisions or agencies of states, and certain tax-exempt organizations to defer receipt of wages

Front 4

529 Plan

Back 4

Qualified tuition plan that provides families and federal tax-free way to save money for college.

Front 5

Balance Billing

Back 5

Practice where an uncontracted medical provider bills a patient for all charges not paid for by the patient's insurance plan, even if those charges are above the plan's usual and customary rate or are considered medically unnecessary.

Front 6

Base Pay

Back 6

Basic compensation an employee receives, usually as a wage or salary.

Front 7

Benchmark Jobs

Back 7

Jobs used as reference points when setting up a job classification system and when designing or modifying a pay structure.

Front 8

Broadbanding

Back 8

Combining several salary grades or job classifications with narrow pay ranges into one band with a wider salary spread.