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EPF Module 3 Lesson 2 Vocabulary

AB
Full Time EmploymentWhen an employee is working for at least 30 hours a week, or 130 hours per month.
Part Time EmploymentWhen an employee works less than 30 hours per week, less than 130 hours per month.
Contract EmploymentHired as a temporary employee due to their expertise in a specific area and complete a specific project within a certain timeframe.
Active IncomeIncome received from performing a service and includes wages, tips, salaries, commissions, and income from businesses in which there is material participation.
PensionPayment made to people who have retired from work.
Unemployment CompensationPaid by the state to unemployed workers who have lost their jobs due to layoffs or retrenchment. It is meant to provide a source of income for jobless workers until they can find employment.
Social SecurityFederal insurance program workers pay into until they retire or are no longer able to work.
Portfolio IncomeA reward, cash, or etc., that a company gives to its shareholders. Dividends can be issued in various forms, such as cash payment, stocks or any other form.



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