Cafeteria Plan
Flexible benefits plan authorized by the Internal Revenue Code that allows employees to pay for a selection of
benefits with pay deductions, some of which may be pretax.
Clear Card
A credit card from which payments are deducted over ensuing time periods.
Compensation
Any form of payment rendered to an employee in exchange for work or services performed.
Consolidated Omnibus Budget Reconciliation Act (COBRA)
An act by the federal government that contains requirements for offering insurance to departed employees.
Consumer Credit Protection Act
A federal act indicating the proportion of total pay that may be retained.
Contract Work Hours and Safety Standards Act
An act of the federal government requiring federal contractors to pay overtime for time
worked exceeding 40 hours per week.
Contribution Rate
The percentage tax charged by a state to an employer to cover their share of the state unemployment insurance fund.
Coverdell Education IRA
Type of individual retirement account of which earnings during the time they are stored in the IRA will be tax-free
at the time when used to pay for higher education costs.
Current Tax Payment Act of 1943
A federal act requiring employers to withhold income taxes from employee pay.
| 
