Examlex
Changes in the health of the average person are relatively unimportant as an indicator of changes in the standard of living.
Mandated Benefit
Benefits that employers are required by law to provide to their employees, such as social security, unemployment, and workers' compensation.
Workers' Compensation
An insurance type that offers medical benefits and compensates for lost wages to workers hurt while performing their job duties.
Nonmandated Benefits
Refer to additional perks or compensations provided by employers that are not legally required, such as retirement plans, health insurance beyond the legal minimum, and paid vacation.
Life-Cycle Benefits
Employee benefits offered by organizations that are designed to meet the needs of employees at different stages of their life and career.
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