PEO GLOSSARY

Human resources definitions that any human can understand

a | b | c | d | e | f | g | h | i | l | m | n | o | p | q | r | s | t | u | v | w
Reset list
GAAP -  Generally accepted accounting principles
GAAS -  Generally accepted auditing standards
GAO -  General Accounting Office
General Notice -  A written notice describing COBRA rights, which must be provided by the plan administrator to each covered employees and covered spouse within 90 days of their beginning coverage under the plan, or within 90 days of the plan becoming subject to COBRA. However, if a qualifying events occurs and you would be required to provide an election notice before the date the general notice is due, the general notice must be provided at the same time as the election notice. Among other things, the general notice must include a description of the COBRA coverage provided under the plan, who may become qualified beneficiaries, and the types of qualifying events that may give rise to the right to COBRA coverage. The Department of Labor has developed a model general notice that is intended to assist plan administrators of single-employer group health plans in satisfying the general notice requirement. Use of this model notice is not mandatory. However, in order to use it, a plan administrator must appropriately add relevant information where indicated in the model notice, select among alternative language, and supplement the model notice to reflect applicable plan provisions. Items of information that are not applicable to a particular plan may be deleted. Use of the model general notice appropriately modified and supplemented, will be considered by the Department to satisfy the general notice content requirements of COBRA for single-employer group health plans.
Genetic Information -  A written notice describing COBRA rights, which must be provided by the plan administrator to each covered employees and covered spouse within 90 days of their beginning coverage under the plan, or within 90 days of the plan becoming subject to COBRA. However, if a qualifying events occurs and you would be required to provide an election notice before the date the general notice is due, the general notice must be provided at the same time as the election notice. Among other things, the general notice must include a description of the COBRA coverage provided under the plan, who may become qualified beneficiaries, and the types of qualifying events that may give rise to the right to COBRA coverage. The Department of Labor has developed a model general notice that is intended to assist plan administrators of single-employer group health plans in satisfying the general notice requirement. Use of this model notice is not mandatory. However, in order to use it, a plan administrator must appropriately add relevant information where indicated in the model notice, select among alternative language, and supplement the model notice to reflect applicable plan provisions. Items of information that are not applicable to a particular plan may be deleted. Use of the model general notice appropriately modified and supplemented, will be considered by the Department to satisfy the general notice content requirements of COBRA for single-employer group health plans.
GIC -  Guaranteed interest contract
Government compliance -  Government issued laws, rules and/or regulations at both the local/state and federal level, which may be applicable to employers and employment services organizations such as the PEO. Some government compliance standards or measures are administered by the U.S. Department of Labor - such as federal minimum wage, child labor laws and workplace safety and health, while others may be enforced by the IRS - such as the filing and remittance of employer and employee taxes, while still others may be managed by state authorities such as State Unemployment benefits.
Governmental Plan -  A plan established or maintained for its employees by the Government of the United States, by the government of any state or political subdivision thereof, or by any agency or instrumentality of the foregoing. A governmental plan also includes any plan to which the Railroad Retirement Act of 1935 or 1937 applies, and which is financed by contributions required under that Act and any plan of an international organization which is exempted from taxation under the International Organizations Immunities Act.
Gross Misconduct -  The term "gross misconduct" is not specifically defined in COBRA or in regulations under COBRA. Therefore, whether a terminated employee has engaged in "gross misconduct" that will justify a plan in not offering COBRA to that former employee and his or her family members will depend on the specific facts and circumstances. Generally, it can be assumed that being fired for most ordinary reasons, such as excessive absences or generally poor performance, does not amount to "gross misconduct."
Group Health Plan -  An employee benefit plan established or maintained by an employer or by an employee organization (such as a union), or both, that provides medical care to employees and their dependents directly or through insurance, reimbursement or otherwise.
X

Benefits Support

Tell us more about yourself
Required:

How can we help you?