The alphabet soup of benefits
July 23, 2009 by Bill MeltzerPosted in: Latest News & Views, Our favorite Web sites, Pay and benefits
Ever get stuck on the meaning of a benefits acronym?
Even seasoned benefits managers sometimes run across acronyms they’ve never seen before. For instance, do you know what a DROP is? Have you ever seen a COCC? Chances are, you have (even if you don’t refer to it by the shorthand).
A DROP is a deferred retirement option plan. A COCC is a certificate of creditable coverage for purposes of ensuring pre-existing conditions are covered.
Benefits Counsel has put together a special Web site that does nothing but list common and obscure benefits acronyms, explain what they stand for, and in some cases provide links for more information.
July 23rd, 2009 at 9:45 am
The link in the article contains a period at the end which causes an error. This link works:
http://www.benefitscounsel.com/Benefits%20Acronym%20Lexicon.htm
August 4th, 2009 at 4:19 pm
If I run across an acronym that I don’t recognize, I quickly Google the acronym and most usually come up with the meaning and information. A few seconds and mystory solved!
August 4th, 2009 at 4:22 pm
Where is that darn spell check?