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In the law of contracts, damages suffered by the nonbreaching party may be either “direct” (loss of the benefit of the bargain, measured by the cost of remedying the deficient performance) or “consequential” (other reasonably foreseeable harm caused by the breach).
Many collective bargaining contract agreements and pension plans, for example, tie compensation changes to the Consumer Price Index before adjustment for seasonal variation. The CPI-W population represents about 29 percent of the total U.S. population and is a subset of the CPI-U population.
Collective Bargaining: One or more unions meeting with representatives from an organization to negotiate labor contracts. Here is a list of 25 terms you should know: Employment Retirement Income Security Act (ERISA): A federal law that governs pension and welfare employee benefit plans. Are you up to date on your HR compliance terms?
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