benefits


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Benefit

In annuities, insurance and some government programs, the amount of money one receives under certain, stated circumstances. Benefits commonly refer to periodic payments one begins to receive following retirement, but they may also refer to welfare payments like rental assistance or food stamps. In general, benefits may be fixed at a certain amount (often determined by the amount one has contributed in premiums or taxes) or may vary according to inflation or an underlying investment portfolio.

benefits

In eminent domain cases, the concept of “benefit” comes into play because property owners may receive an enhancement in the value of their remaining property after the condemnation.If the enhancement is special to them, or only a very few owners, rather than the general betterment enjoyed by the public at large by the anticipated improvements, then any condemnation award to them may be reduced by the amount of the benefits.

Example: Ken owns 5 acres of land near an eight-lane city thoroughfare. The only thing pre- venting him from having valuable road frontage is a 2-foot-deep strip of land still owned by Elsie. This is the only land remaining to Elsie after successive road widenings over the years. The city decides to widen the road again and takes all the rest of Elsie's land and a 15-foot-deep strip of Ken's land. The city is liable to Ken for the 15-foot sliver, but Ken suddenly has 5 acres of extremely valuable road frontage property. Ken probably won't receive a check from the city because of the special benefits he received from the condemnation.

References in periodicals archive ?
One advantage of having a spousal option is that a wife at full retirement age can take her benefit. Her husband can then apply for a spousal benefit and receive half of her benefit as long as he is also at full retirement age.
Those who have taken benefits early, such as David Walters, will receive a reduced benefit that is based upon the number of years that he or she collects benefits before reaching full retirement age.
The need for dental insurance is also important for mature workers, said James Gimarelli, D.M.D., vice president of dental for Assurant Employee Benefits. "Research shows a definite tie-in between good periodontal health and overall health.
A similar fight is under way at Michigan State University, where opponents say the school violates a state constitutional amendment by offering benefits. The 2004 amendment defined marriage "or any similar union for any purpose" as the union of a man and a woman, but at least seven other Michigan institutions currently provide benefits to same-sex couples.
"We will follow the courts' approach and develop our decisions on public benefit in the context of changing economic and social conditions, including public attitudes." A new Charity Appeals Tribunal will be able to review the commission's decisions, and appeal to the courts will remain open.
Maximizing Empire Zone benefits requires in-depth knowledge of the details of the program and the application process, in addition to an understanding of the tax implications.
For example, there could be an agreement between a county and city about employees transferring that may include post-employment benefits other than pensions.
If no specific Code exclusion applies, the fringe benefit may still be eligible for exclusion pursuant to the four broad categories of excludible fringes listed in Sec.
The VA benefits delivery system was designed to be open, informal and helpful to veterans.
The Department of Labor (DOL) requires all employers with more than 100 eligible benefit plan participants and certain smaller plans to conduct EBP audits.
(There will be more people receiving benefits for longer periods of time, with fewer workers to fund the program.)