RETIREMENT BONUS Meaning and
Definition
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A retirement bonus refers to a financial reward or additional compensation given to an individual upon their retirement from a particular job or organization. It is a lump sum payment or a one-time cash benefit provided to an employee as a sign of appreciation for their service and dedication throughout their employment tenure.
This type of bonus is typically granted to employees who have spent a significant amount of time with a company, often as an incentive or motivation to encourage loyalty and retention. It is intended to help support the employee's transition into retirement by providing them with a financial cushion or supplement to their retirement income.
The retirement bonus is usually calculated based on factors such as the employee's years of service, their salary level, and sometimes their job position within the organization. The precise amount of the bonus may vary from company to company and is often determined by company policies or collective bargaining agreements.
Retirement bonuses can offer various benefits to employees, including the ability to boost their savings, pay off outstanding debts, invest in other ventures, or even pursue personal interests and hobbies during retirement.
It is important for employees to carefully review and understand the terms and conditions associated with any retirement bonus, as they may be subject to certain eligibility criteria, vesting periods, or tax implications. Thus, seeking professional advice or consulting the company's human resources department or retirement plan administration is advisable to ensure a complete understanding of the retirement bonus offered.
Common Misspellings for RETIREMENT BONUS
- eetirement bonus
- detirement bonus
- fetirement bonus
- tetirement bonus
- 5etirement bonus
- 4etirement bonus
- rwtirement bonus
- rstirement bonus
- rdtirement bonus
- rrtirement bonus
- r4tirement bonus
- r3tirement bonus
- rerirement bonus
- refirement bonus
- regirement bonus
- reyirement bonus
- re6irement bonus
- re5irement bonus
- returement bonus
- retjrement bonus
Etymology of RETIREMENT BONUS
The etymology of the word "retirement bonus" can be broken down as follows:
1. Retirement: The word "retirement" originated from the Old French word "retirement", which means "withdrawal", "retreat", or "recess". It is derived from the Latin word "retrahere", which combines "re-" (back) and "trahere" (to draw). Thus, "retirement" refers to withdrawing or stepping back from something, particularly from active work or employment.
2. Bonus: The word "bonus" comes from the Latin word "bonus", which means "good". It has roots in the Indo-European root "dwe-", meaning "to prosper" or "to do well". "Bonus" refers to something additional or extra that is given, often as a reward or gift, beyond what is expected or required.
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