Variable-multiple-of-earnings benefit plan

{
  "id": "MLC-T-ECS-002094",
  "term": "Variable-multiple-of-earnings benefit plan",
  "field": "Economic statistics",
  "definition": "A life insurance plan in which benefits are calculated by using multiples that are based on employee earnings.\n\nNote: Variable-multiple-of-earnings benefits is a method of calculating life insurance benefits that is based on thresholds for age, salary, and length of service. For example, employees earning up to $50,000 per year might receive a benefit equal to their annual earnings, whereas employees earning more than $50,000 per year might receive twice their annual earnings.",
  "references": [
    "BLS Glossary"
  ],
  "url": "https://mlchart.com/terminology/economic-statistics/variable-multiple-of-earnings-benefit-plan/"
}