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Word
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Definition
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Occupation
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Occupation: Any meaningful work for which an employee is reasonably qualified in terms
of training, education, and experience.
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Occupational Injury
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Occupational Injury: An injury that occurs in the course of work or a health impairment
caused by conditions in the work environment.
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Occupational Safety and Health Act (OSHA)
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Occupational Safety and Health Act (OSHA): A federal law that sets national standards
for health and safety conditions in the work place. The act also provides for compiling and
reporting of statistics on occupational illnesses and injuries.
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Old Age, Survivors, Disability, and Health Insurance (OASDHI)
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Old Age, Survivors, Disability, and Health Insurance (OASDHI): Benefits provided
under the US Social Security program.
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Omnibus Budget Reconciliation Act (OBRA) of 1993
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Omnibus Budget Reconciliation Act (OBRA) of 1993: Federal legislation that limits the
amount of compensation that can be paid to employees covered by LTD plans funded
through VEBA (voluntary employees' beneficiary association) trusts. Any such plan with
participants earning more than $150,000 could lose its tax-exempt status.
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Other Income Sources
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Other Income Sources: Income and benefits other than the employer-provided benefit
received by an employee who has been disabled, or by his or her family; e.g., payments
from Social Security, workers' compensation, mandated state disability plans.
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Own Occupation
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Own Occupation: In LTD and STD plans, the job functions that an employee regularly
performed before incurring a disability.
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Own Occupation Period
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Own Occupation Period: The period during which employees will continue to receive LTD
or STD benefits as long as they cannot perform their regular job; usually six months. See
also any-occupation period.
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