Compensation Glossary

# A B C D E F G H I J K L M N O P Q R S T U V W - Z

Open Contract

A kind of insurance contract utilized by fraternal benefit societies in which the society's charter, constitution and by-laws become part of the insurance contract.

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Open Ended Questionnaire

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Headquarters Country Log In / Log On Market Index Certificate of Assumption Graded Premium Whole Life Insurance Years of Experience Deposit Administration Contract Current Assumption Whole Life Insurance Cost of Living Merit Budget

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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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