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Today's Terms
Master agreements
Definition:
A contract between the employer and the exclusive bargaining representative. For collective bargaining, the employer is represented by the governor or the governor's designee. The LRO will negotiate contracts with each union that represents more than 500 employees.
Vesting
Definition:
Ownership interest in your pension plan benefits and Company matching contributions under the savings program. You have an irrevocable right to a benefit when you are fully vested.
Undue Hardship
Definition:
With respect to the provision of an accommodation, significant difficulty or expense incurred by a covered entity, when considered in light of certain factors. These factors include the nature and cost of the accommodation in relation to the size, resources, nature, and structure of the employer's operation.
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