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profit sharing |
Also found in: Financial, Encyclopedia, Wikipedia | 0.07 sec. |
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profit sharing, n a mechanism for funding a retirement plan for employees or members of a professional association. Members are eligible for a percentage of the net income based on predetermined formulae. Such plans, properly executed, are legal and ethical and are to be differentiated from fee splitting, which is illegal and unethical, in which a referring professional shares in the fee-for-service income of another professional. profit the amount by which income exceeds expenditure. profit sharing profit sharing between a professional and a lay person is illegal in most countries because it is considered to be improper for a nonveterinarian to have any authority over the quality and style of the work of a professional person. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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This meant that for all reasonable intents and purposes, gainsharing would not be permitted. Gainsharing is an arrangement in which physicians work with hospitals to share the profits associated with reducing wasteful spending. Gainsharing plans are group pay-for-performance programs that motivate employees to use their brains and efforts to boost performance. |
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