PHR®/SPHR® Professional in Human Resources Certification Study Guide, Third Edition

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immediate vesting

Immediate vesting occurs 100 percent, or fully, as soon as employees meet the eligibility requirements of the vesting plan.

implied contract

An implied contract can be created by an employer's conduct and need not be specifically stated or written.

Improshare

Developed in the 1970s by Mitchell Fein, Improshare plans are group incentive plans that establish a baseline of productivity and reward employees with 50 percent of any gains made over the base.

imputed income

Imputed income is any indirect compensation paid on behalf of employees.

in loco parentis

This Latin term means "in place of the parent" and applies to those who care for a child on a daily basis. In loco parentis does not necessarily refer to a biological ...