Compensation Glossary

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Hospital Surgical Expense Insurance

Medical expense health insurance that combines basic hospital coverage and basic surgical coverage into one policy.

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Hospital Indemnity Insurance

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Hospitalization

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Dues and Membership Fees Lead-Lag Pay Structure Policy Non-Duplication of Benefits Log In / Log On Merit Budget Incentive Completion Bonus Deposit Administration Contract Market Index Current Assumption Whole Life Insurance

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Common Compensation Terms and Formulas - January 2026

Includes the latest updates: Compensable factors, defined benefit plan, job leveling, lead differential, shift differential and more.
Salary structure formulas and strategies

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