Benefits Plan
/ˈbɛnɪfɪts plæn/
Definitions
- (n.) A formal arrangement outlining the types and terms of benefits provided to employees, such as health insurance, retirement plans, and paid leave.
The company's benefits plan includes medical coverage and a 401(k) retirement option.
Forms
- benefits plan
- benefits plans
Related terms
See also
Commentary
Benefits plans are typically governed by specific laws like ERISA in the U.S. and should clearly define eligibility and coverage details.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.