Benefits

{
  "id": "MLC-T-ECS-000162",
  "term": "Benefits",
  "field": "Economic statistics",
  "definitions": [
    "Nonwage compensation provided to employees by their employer.\n\nNote: The National Compensation Survey (NCS) provides data on nonwage employer-provided compensation by grouping benefits into five categories: paid leave (vacations, holidays, sick leave); supplementary pay (premium pay for overtime and work on holidays and weekends, shift differentials, nonproduction bonuses); retirement (defined benefit and defined contribution plans); insurance (life insurance, health benefits, short-term disability, and long-term disability insurance); and legally required benefits (Social Security and Medicare, federal and state unemployment insurance taxes, and workers’ compensation).",
    "Payments to which participants may be entitled under a pension plan, including pension benefits, death and disability benefits due on termination of employment and all other benefits directly paid from the retirement fund to recipients during the fiscal year surveyed."
  ],
  "subject": "Governments",
  "see_also": [
    "Statistics about Governments"
  ],
  "references": [
    "BLS Glossary",
    "U.S. Census Bureau Glossary"
  ],
  "url": "https://mlchart.com/terminology/economic-statistics/benefits/"
}