31 HR Acronyms Explained

Have you ever confused a W-2, W-3, or W-4? Or maybe you’re not sure about the difference between FMLA, FSA, and FLSA. For employers and employees, there are myriad HR terms to know and understand. This cheat sheet explains several common human resource acronyms.

1099: A form that reports income from self employment earnings, interest and dividends, government payments, and more. (TurboTax)
401(k): Retirement plans named for the section of the tax code that governs them. (WSJ)
ACA: Affordable Care Act (see also PPACA)
ADA: Americans with Disabilities Act
AD&D: Accidental death and dismemberment
ADEA: Age Discrimination in Employment Act
COBRA: Consolidated Omnibus Budget Reconciliation Act
DOL: Department of Labor
EAP: Employee Assistance Program
EEOC: Equal Employment Opportunity Commission
ERISA: Employee Retirement Income Security Act
ESAC: Employer Services Assurance Corporation
FLSA: Fair Labor Standard Act
FMLA: Family Medical Leave Act
FSA: Flexible Spending Account
HDHP: High Deductible Health Plan
HIPAA: Health Insurance Portability and Accountability Act
HR: Human Resources
HSA: Health Savings Account
I-9: A form used for verifying the identity and employment authorization of individuals hired for employment in the United States. (USCIS)
IRA: Individual Retirement Account
IRS: Internal Revenue Service
IRCA: Immigration Reform and Control Act
OSHA: Occupational Safety and Health Act
PEO: Professional Employer Organization
PPACA: Patient Protection and Affordable Care Act, also known as Affordable Care Act (ACA)
SUTA: State Unemployment Tax Authority
USERRA: Uniformed Services Employment and Reemployment Rights Act
W-2: A form that shows the amount of taxes withheld from your paycheck for the year and is used to file your federal and state taxes. (TurboTax)
W-3: A transmittal which is forwarded to the Social Security Administration, showing total earnings, Medicare wages, Social Security wages, and withholding for all employees encompassing the entire year. (IRS)
W-4: A form used by employers to withhold the proper amount of federal income tax from employees’ paychecks. (IRS)

Now, I know I didn’t include every acronym in this cheat sheet. Which ones did I miss? Leave a comment below with your suggestions.

The post 31 HR Acronyms Explained appeared first on GenesisHR Solutions.

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