Employee Pay and Benefits Notes

The first hired is the last fired or laid off.

Hours paid at regular wage, usually first 40 hours per week.

Employee benefits beyond wages and salary, including health insurance, sick leave and benefits.

A tax on earned and unearned income for national programs such as defense and law enforcement.

What you receive from your employer at tax time stating your total wages for the year.

Amounts subtracted from gross pay, some required and some optional.

Income not subject to tax at all.

Total (or agreed-upon rate of) pay BEFORE any deductions are taken out.

A tax on any property such as land, buildings and motor vehicles.

Also known as the amount of the paycheck.

The process whereby unions and employers negotiate terms of employment.

A payroll tax designed to pay for health care for senior citizens in the U.S.

A tax on earned and unearned income paid to the state for welfare, education, highways

Defined as hours worked beyond the regular hours (over 40 hours in a week).

An employer sponsored retirement program

A group of people in the same or similar occupations, organized for the benefit of all.

A schedule where you work four days, ten hours each, rather than five days, eight hours each.

An arrangement of working hours that varies among employees.

Having full rights to monies deposited or funds accumulated in a retirement plan.

A form tells the employer the correct amount of tax to withhold from an employee's paycheck

Money offered to encourage employees to strive to work better

Income that will be taxed at a later time.

A payroll tax to help fund a government program that helps citizens fund retirement in the U.S.

A process in which employees refuse to work until an agreement with management is reached.