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

Standard Nonforfeiture Law

State law stating what the minimum benefits a life-insurance policy can have.

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Standard Metropolitan Statistical Area (SMSA)

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Standard Occupational Code (SOC)

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Cost of Labor Graded Premium Whole Life Insurance General Salary Increase Completion Bonus Cost of Living Assignment Location Non-Duplication of Benefits Single-Rate Pay System Payout Frequency 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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