Leave-Sharing Plan

Dictionary Says

Definition of 'Leave-Sharing Plan'

A plan that allows employees to donate unused sick-leave time to a charitable pool, from which employees who need more sick leave than they are normally allotted may draw. Leave-sharing plans are designed to aid employees who face major surgeries or other medical emergencies or who live in areas affected by natural disasters, such as flooding. These plans contain many provisions that can vary from one employer to another.

Investopedia Says

Investopedia explains 'Leave-Sharing Plan'

Employees who benefit from the additional leave time are taxed for the equivalent compensation that they receive as W-2 income. Employers who offer this type of plan must consider several factors, such as whether employees can choose who they donate their sick time to and whether they should limit the amount or percent of sick leave that can be donated. 

Sign Up For Term of the Day!

Try Our Stock Simulator!

Test your trading skills!

Related Definitions

  1. Fringe Benefits

    A collection of ...
  2. Income

    Economic wealth ...
  3. W-2 Form

    The form that an ...
  4. Casualty Insurance

    A broad category ...
  5. Catastrophic Illness Insurance

    A type of ...
  6. Presenteeism

    A loss of ...
  7. National Average Wage Index - NAWI

    An index ...
  8. 403(b) Plan

    A retirement ...
  9. Financial Intermediary

    An entity that ...
  10. Agent

    1. An individual ...

Articles Of Interest

  1. Critical Illness Insurance: Get Paid If You Get Sick

    This coverage will allow you to focus your attention on getting well, rather than getting by.
  2. Protecting Your Financial Documents From Disaster

    Organizing and updating your records regularly can save you a lot of grief in a time of crisis.
  3. What Does Medicare Cover?

    Don't assume you're insured. Find out what you can expect from this healthcare program.
  4. Choosing The Best Disability Insurance

    Social Security benefits can be hard to collect. Find out why you need disability insurance to protect your income, and learn how to choose the right policy for you.
  5. Fighting The High Costs Of Healthcare

    If your employer is cutting medical benefits, a health savings account may be right for you.
  6. Market Capitalization Defined

    Find out the differences between mega-, large-, mid- and small-cap stocks and how each suits different investing styles.
  7. In Small Business, Success Is Spelled With 5 "C"s

    Incorporating these steps will help your business thrive in a competitive market.
  8. Retirement Savings Tips For 35- To 44-Year-Olds

    Learn how the "sandwich generation" can save for retirement while taking care of their kids and parents.
  9. Is Loan Protection Insurance Right For You?

    This coverage can keep you from defaulting on your loans when you're in financial trouble.
  10. Selecting And Managing Insurance Payouts

    Find out which settlement option is right for you before you recieve your funds.

comments powered by Disqus
Recommended
Loading, please wait...
Trading Center