Engineering Salaries. on the Rise. In the 2012 Engineering Income and Salary Survey, conducted by the American Society of Mechanical Engineers (ASME) and the American Society of Civil Engineers (ASCE), we look at the state of salaries and the job market in the field of engineering.
Compensation is a systematic approach to providing monetary value to employees in exchange for work performed. Compensation may achieve several purposes assisting in recruitment, job performance, and job satisfaction.
From a plan design perspective, the most important definition of compensation is the one used to determine plan benefits or contributions. How compensation is defined directly affects plan costs and participantsâ benefits.ode Section 414(s) provides a definition of compensation that is required under the nondiscrimination rules. Under this Section, the employer can choose a safe-harbor definition or an alternative.