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Voluntary Employee Beneficiary Association
A voluntary employees' beneficiary association (VEBA) is a form of trust fund permitted under United States federal tax law, whose sole purpose must be to provide employee benefits.Hopkins, Bruce R. ''The Law of Tax-Exempt Organizations.'' Hoboken, N.J.: Wiley, 2007, p. 490. Among the types of benefits which a VEBA may provide are accident insurance benefits, childcare costs, employee continuing education, the cost of legal services, life insurance benefits, severance pay, supplemental unemployment benefits, sick leave pay, training benefits, and vacation pay.Rattiner, Jeffrey H. ''Financial Planning Answer Book 2009.'' CCH Inc., 2008, p. 3-37. A VEBA cannot, however, provide commuter benefits, miscellaneous fringe benefits, or retiree income. The plan may pay benefits to employees, their dependents, or their designated beneficiaries, or to disabled, laid-off, or retired former employees. The organization must also meet the following additional requirements: # It ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Trust Law
A trust is a legal relationship in which the owner of property, or any transferable right, gives it to another to manage and use solely for the benefit of a designated person. In the English common law, the party who entrusts the property is known as the "settlor", the party to whom it is entrusted is known as the "trustee", the party for whose benefit the property is entrusted is known as the "beneficiary", and the entrusted property is known as the "corpus" or "trust property". A ''testamentary trust'' is an irrevocable trust established and funded pursuant to the terms of a deceased person's will. An inter vivos trust is a trust created during the settlor's life. The trustee is the legal owner of the assets held in trust on behalf of the trust and its beneficiaries. The beneficiaries are equitable owners of the trust property. Trustees have a fiduciary duty to manage the trust for the benefit of the equitable owners. Trustees must provide regular accountings of trust income ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dependant
A dependant (US spelling: dependent) is a person who relies on another as a primary source of income and usually assistance with activities of daily living. A common-law marriage, common-law spouse who is financially supported by their partner may also be included in this definition. In some jurisdictions, supporting a dependant may enable the provider to claim a tax deduction. In the United Kingdom, a full-time student in higher education who financially supports another adult may qualify for an Adult Dependant's Grant. Taxation In the US, a taxpayer may claim exemptions for their dependants. See also * Military dependent * Independent (other), Independent * Guardian (other), Guardian References External links * Interpersonal relationships Gender roles Sociology of work {{sociology-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Associated Press
The Associated Press (AP) is an American not-for-profit organization, not-for-profit news agency headquartered in New York City. Founded in 1846, it operates as a cooperative, unincorporated association, and produces news reports that are distributed to its members, major U.S. daily newspapers and radio and television broadcasters. Since the award was established in 1917, the AP has earned 59 Pulitzer Prizes, including 36 for photography. The AP is also known for its widely used ''AP Stylebook'', its AP polls tracking National Collegiate Athletic Association, NCAA sports, sponsoring the National Football League's annual awards, and its election polls and results during Elections in the United States, US elections. By 2016, news collected by the AP was published and republished by more than 1,300 newspapers and broadcasters. The AP operates 235 news bureaus in 94 countries, and publishes in English, Spanish, and Arabic. It also operates the AP Radio Network, which provides twice ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Big Three (automobile Manufacturers)
In the Automotive industry in the United States, United States automotive industry, the term ''Big Three'' is used for the country's three largest motor vehicle manufacturers, especially indicating companies that sell under multiple brand names. The term originated in the United States, where General Motors was the first to form a large, multi-brand, motor-vehicle corporation (in the 1910s), followed by the Ford Motor Company, and the Chrysler, Chrysler Corporation, all before World War II. The term ''Big Three'' has since been sometimes used to refer to the following automakers: * United States — General Motors, Ford Motor Company, Ford, and Stellantis (historically Chrysler) * Germany — the Volkswagen Group, the Mercedes-Benz Group, and BMW * Japan — Toyota, Honda, and Nissan * South Korea — Hyundai Motor Company, Kia Corporation, and GM Korea * India — Mahindra & Mahindra, Mahindra, Maruti Suzuki, and Tata Motors * China — BYD Auto, Geely Auto, and Great Wall Mot ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Auto Workers
The United Auto Workers (UAW), fully named International Union, United Automobile, Aerospace and Agricultural Implement Workers of America, is an American labor union that represents workers in the United States (including Puerto Rico) and southern Ontario, Canada. It was founded as part of the Congress of Industrial Organizations (CIO) in the 1930s and grew rapidly from 1936 to the 1950s. The trade union, union played a major role in the liberal wing of the Democratic Party under the leadership of Walter Reuther (president 1946–1970). It was known for gaining high wages and pensions for Automobile industry, automotive manufacturing workers, but it was unable to unionize auto plants built by foreign-based car makers in the South after the 1970s, and it went into a steady decline in membership; reasons for this included increased automation, decreased use of labor, mismanagement, movements of manufacturing (including reaction to NAFTA), and increased globalization. After a succ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Trade Union
A trade union (British English) or labor union (American English), often simply referred to as a union, is an organization of workers whose purpose is to maintain or improve the conditions of their employment, such as attaining better wages and Employee benefits, benefits, improving Work (human activity), working conditions, improving safety standards, establishing complaint procedures, developing rules governing status of employees (rules governing promotions, just-cause conditions for termination) and protecting and increasing the bargaining power of workers. Trade unions typically fund their head office and legal team functions through regularly imposed fees called ''union dues''. The union representatives in the workforce are usually made up of workplace volunteers who are often appointed by members through internal democratic elections. The trade union, through an elected leadership and bargaining committee, bargains with the employer on behalf of its members, known as t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tax Deduction
A tax deduction or benefit is an amount deducted from taxable income, usually based on expenses such as those incurred to produce additional income. Tax deductions are a form of tax incentives, along with exemptions and tax credits. The difference between deductions, exemptions, and credits is that deductions and exemptions both reduce taxable income, while credits reduce tax. Above and below the line Above and below the line refers to items above or below adjusted gross income, which is item 37 on the tax year 2017 1040 tax form. Tax deductions above the line lessen adjusted gross income, while deductions below the line can only lessen taxable income if the aggregate of those deductions exceeds the standard deduction, which in tax year 2018 in the U.S., for example, was $12,000 for a single taxpayer and $24,000 for married couple. Limitations Often, deductions are subject to conditions, such as being allowed only for expenses incurred that produce current benefits. Capital ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Collective Bargaining
Collective bargaining is a process of negotiation between employers and a group of employees aimed at agreements to regulate working salaries, working conditions, benefits, and other aspects of workers' compensation and labour rights, rights for workers. The interests of the employees are commonly presented by representatives of a trade union to which the employees belong. A collective agreement reached by these negotiations functions as a Labor and employment law, labour contract between an employer and one or more unions, and typically establishes terms regarding wage scales, working hours, training, health and safety, overtime, Grievance (labour), grievance mechanisms, and rights to participate in workplace or company affairs. Such agreements can also include 'productivity bargaining' in which workers agree to changes to working practices in return for higher pay or greater job security. The union may negotiate with a single employer (who is typically representing a company's s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Discrimination
Discrimination is the process of making unfair or prejudicial distinctions between people based on the groups, classes, or other categories to which they belong or are perceived to belong, such as race, gender, age, class, religion, or sexual orientation. Discrimination typically leads to groups being unfairly treated on the basis of perceived statuses based on ethnic, racial, gender or religious categories. It involves depriving members of one group of opportunities or privileges that are available to members of another group. Discriminatory traditions, policies, ideas, practices and laws exist in many countries and institutions in all parts of the world, including some, where such discrimination is generally decried. In some places, countervailing measures such as quotas have been used to redress the balance in favor of those who are believed to be current or past victims of discrimination. These attempts have often been met with controversy, and sometimes been called re ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Trustee
Trustee (or the holding of a trusteeship) is a legal term which, in its broadest sense, refers to anyone in a position of trust and so can refer to any individual who holds property, authority, or a position of trust or responsibility for the benefit of another. A trustee can also be a person who is allowed to do certain tasks but not able to gain income.''Black's Law Dictionary, Fifth Edition'' (1979), p. 1357, . Although in the strictest sense of the term a trustee is the holder of property on behalf of a beneficiary, the more expansive sense encompasses persons who serve, for example, on the board of trustees of an institution that operates for a charity, for the benefit of the general public, or a person in the local government. A trust can be set up either to benefit particular persons or for any charitable purposes (but not generally for non-charitable purposes): typical examples are a will trust for the testator's children and family, a pension trust (to confer bene ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Retirement
Retirement is the withdrawal from one's position or occupation or from one's active working life. A person may also semi-retire by reducing work hours or workload. Many people choose to retire when they are elderly or incapable of doing their job for health reasons. People may also retire when they are eligible for private or public pension benefits, although some are forced to retire when bodily conditions no longer allow the person to work any longer (by illness or accident) or as a result of legislation concerning their positions. In most countries, the idea of retirement is of recent origin, being introduced during the late-nineteenth and early-twentieth centuries. Previously, low life expectancy, lack of social security and the absence of pension arrangements meant that most workers continued to work until their death. Germany was the first country to introduce retirement benefits in 1889. Nowadays, most developed countries have systems to provide pensions on retirement in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Layoff
A layoff or downsizing is the temporary suspension or permanent termination of employment of an employee or, more commonly, a group of employees (collective layoff) for business reasons, such as personnel management or downsizing an organization. Originally, ''layoff'' referred exclusively to a temporary interruption in work, or employment but this has evolved to a permanent elimination of a position in both British and US English, requiring the addition of "temporary" to specify the original meaning of the word. A layoff is not to be confused with Wrongful dismissal, wrongful termination. ''Laid off workers'' or ''displaced workers'' are workers who have lost or left their jobs because their employer has closed or moved, there was insufficient work for them to do, or their position or Shift work, shift was abolished (Borbely, 2011). Downsizing in a company is defined to involve the reduction of employees in a workforce. Downsizing in companies became a popular practice in the 1 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
