Employee Benefits Glossary

noun A fixed amount of money that an employee receives as a regular salary before additional payments such as bonuses or overtime are included.

• The company offers a competitive base pay to attract top talent.
• The job comes with a decent base pay, so it's a good opportunity.
• I'm looking for a job with a solid base pay to cover my expenses.
• In negotiations, always aim to start from a high base pay to have room for adjustments.

noun the portion of a person's life during which they are no longer actively working

• After decades of hard work, he finally decided to enjoy his retirement.
• She's looking forward to kicking back and relaxing in retirement.
• I can't wait to be living the retired life, just chilling all day.
• The athlete's retirement from the sport marked the end of an era.

noun a situation in which someone is allowed to leave work early, typically as a benefit provided by an employer

• The company offers an early-out option for employees looking to retire before the standard age.
• I heard Sarah is taking the early-out package and retiring next month.
• I'm thinking about taking the early-out deal to get out of here sooner.
• Sometimes taking an early-out can be the best decision for your mental health.

noun a payment or other financial support received upon retirement from an employer or government

• Employees are entitled to receive retirement benefits after completing a certain number of years of service.
• Once you've put in enough years, you can start collecting your retirement benefits.
• I can't wait to start cashing in on my retirement benefits!
• Investing in your health now is like investing in your retirement benefits for the future.

noun a type of insurance coverage that pays for medical and surgical expenses incurred by the insured

• It is important to have medical insurance to cover any unexpected healthcare expenses.
• Make sure you have medical insurance in case you need to go to the doctor.
• Don't skip out on getting medical insurance, you never know when you might need it.
• Having medical insurance is like having a safety net for your health.