Examlex
Under the bargaining power model, when is the union's bargaining power increased?
Salary Reduction
A decrease in the amount of an employee's pay before taxes as agreed upon by the employer and employee, often in exchange for some benefit such as enhanced retirement contributions.
Tax Bracket
Categories that determine the rate at which income is taxed based on income levels.
403b Plan
A retirement savings plan available to certain employees of public schools and nonprofits, allowing them to save a portion of their salary in a tax-deferred account.
Bequest
The act of giving assets to beneficiaries through a will or estate plan.
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