Family And Medical Leave Act - FMLA

Dictionary Says

Definition of 'Family And Medical Leave Act - FMLA'


The Family and Medical Leave Act (FMLA) was signed into law on August 5, 1993 by President Bill Clinton. The FMLA is a labor law requiring larger employers to provide employees unpaid leave for serious health conditions, to care for a sick family member, or to care for a newborn or adopted child.
Investopedia Says

Investopedia explains 'Family And Medical Leave Act - FMLA'


An employee who takes unpaid leave that falls under the FMLA is job-protected; that is, the employee can return to the same position held before the leave began. If the same position is unavailable, the employer must provide a position that is substantially equal in pay, benefits and responsibility. To qualify for FMLA, an employee must be employed by a business with 50 or more employees within a 75 mile radius of his or her work site. The employee must have worked for the employer for at least 12 months and 1,250 hours within the last 12 months. The FMLA mandates unpaid, job-protected leave for up to 12 weeks a year.
comments powered by Disqus
Hot Definitions
  1. Valuation

    The process of determining the current worth of an asset or company. There are many techniques that can be used to determine value, some are subjective and others are objective.
  2. Tech Street

    A term used in the financial markets and the press to refer to the technology sector. Companies like Intel, Microsoft, Apple and Dell are all considered to be part of Tech Street.
  3. Tech Street

    A term used in the financial markets and the press to refer to the technology sector. Companies like Intel, Microsoft, Apple and Dell are all considered to be part of Tech Street.
  4. Momentum Investing

    An investment strategy that aims to capitalize on the continuance of existing trends in the market. The momentum investor believes that large increases in the price of a security will be followed by additional gains and vice versa for declining values.
  5. Momentum Investing

    An investment strategy that aims to capitalize on the continuance of existing trends in the market. The momentum investor believes that large increases in the price of a security will be followed by additional gains and vice versa for declining values.
  6. IPO ETF

    An exchange-traded fund that focuses on stocks that have recently held an initial public offering (IPO). The underlying indexes tracked by IPO ETFs vary from one fund manager to another, but index IPO ETFs are usually passively managed and contain equities that have recently been offered to the public.
Trading Center