Unemployment Compensation
Definition of "Unemployment compensation"
Money paid through state and federal programs to workers who are temporarily unemployed. The program, which was created by the social security act of 1935, is managed by the individual states, which decide the level of benefits that will be paid and assess a payroll tax on employers to pay for the program. Employers may pay more or less tax depending on the stability of their workforces. Weekly benefits vary widely among the states.
Popular Insurance Terms
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Property owned by two or more parties in such a way that at the death of one, the survivors retain complete ownership of the property. ...
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Nominal interest rate minus the rate of inflation. ...
Circumstances that encourage the organization of pension plans by employers. For example, employer contributions are tax deductible as business expenses and not currently taxable income to ...
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