Compensation

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Compensation

Arrangement under which the delivery of goods to a party is paid for by buying back a certain amount of the product from the recipient of the goods.

Compensation

Payment for services rendered. One is due compensation when one has performed a service for an employer or client. Examples of compensation include wages, salaries, tips, fees, and commissions. Compensation is usually the primary component of an individual's tax liability. It is also called remuneration.

compensation

(1) Payment for goods or services.(2) Damages necessary to restore an injured party to his or her position before the wrongdoing.(3) In eminent domain, payment to property owners for the value of the property taken and any damage caused to the value of the remaining property.

Compensation

Wages, commissions, tips, professional fees, and net self-employment income received for services rendered; that is, earned income.
References in periodicals archive ?
1) at least 80 percent of the nonhighly compensated employees of the SLOB benefit under the defined plan of the employer, and
The Govt also compensated 115 injured out of 1632 in KP.
The plan administrator separates employees into two categories: highly compensated employees and non-highly compensated employees.
It relied upon the carefully drafted work-out agreement to support Roseview's claim that although it did not secure a deficiency judgment after the sale of the debtor's property, it relied upon the work-out agreement with the Pfisters under which Parcels 2 and 3 would be sold if Roseview was not fully compensated upon the ultimate sale of Parcel 1.
restaurants) may have non-highly compensated, unskilled employees who become "management" under this definition causing a failure to qualify as a SLOB.
Holtslander says that thermally compensated screw is limited by its heat conductor to a temperature ceiling of about 600 F.
Also, all family members, including adult children, are treated as one highly compensated employee for applying the nondiscrimination rules to a PSP.
If that is the case, the true percentage of leadership compensated may be lower than reported.
The ADP calculation limits the amount that the highly compensated group can put into the plan as an elective deferral to a multiple of the average amount actually deferred by nonhighly compensated employees (NCEs).
With the reduction in the 401 (a) (17) limit on compensation to $150,000 for 1994, many 401(k) plans are finding it difficult to pass their actual deferral percentage (ADP) tests, which are designed to spot discrimination in favor of highly compensated employees.
The first major change at the hospital was from a voluntary attending staff to a teaching environment, with full-time, compensated faculty responsible for the teaching of residents, and then for students.