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October 6, 2011 10:02 AM   Subscribe

What is 'jubilee' in the context of employee benefits?
posted by IndpMed to Work & Money (8 answers total)
What's the context?
posted by grouse at 10:03 AM on October 6, 2011 [1 favorite]

A special anniversary of an event, esp. one celebrating twenty-five or fifty years of a reign or activity.

So perhaps milestones of how long the employee has been employed? We give our little certificates every 5 years here.
posted by royalsong at 10:09 AM on October 6, 2011

Typically a bonus that marks a certain period of continuous service to the firm. So, two months' salary when you hit your 10-year mark, and four months' salary when you hit the 20-year mark.
posted by Admiral Haddock at 10:13 AM on October 6, 2011

My first thought (without much context here) is a benefit-fair type event, where the vendors for your various insurance carriers, 401(k) provider, etc. to set up tables for employees to come and ask questions about their benefits. These typically occur around annual re-enrollment time.
posted by Coffeemate at 11:17 AM on October 6, 2011

This might be a stretch, and the context would help here, but could this be a bad translation or re-translation? Jubilacion is Spanish for "retirement." Does that make any sense here?
posted by peep at 2:08 PM on October 6, 2011

jubilee in that sense = anniversary of your start date or length of employment
posted by koahiatamadl at 2:21 PM on October 6, 2011

I've thought the accrual of long-service leave - because jubilee basically means 'significant anniversary'.
posted by pompomtom at 4:39 PM on October 6, 2011

Thank you all. The context: International Accounting Standard (IAS) 19 Employee Benefits applies to short-term, other long-term, post-employment, and termination related employee benefits. Other long-term employee benefits include disability, jubilee, and others. Although there is some context, the guidance does not clarify what jubilee is, and publications I found summarizing IAS 19 also did not clarify.

I believe the anniversary bonus is accurate.
posted by IndpMed at 11:33 AM on October 7, 2011

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