Glossary for the Public Sector
The information provided here is explanatory. Where there is a conflict between this information and the Act, the Act will prevail.
Bonus Plans - any plan providing compensation that is not part of base salary, benefits and perquisites and does not depend upon achieving specified or pre-established performance goals. It is the norm in the provincial public sector to use a holdback system.
Broader Public Sector – includes the core provincial public service plus Crowns, Schools, Colleges, Universities, Health Authorities and social services. It does not include Federal, local and municipal governments.
Commercial Crowns - Commercial Crown corporations are separate legal entities that deliver goods and services on a commercial, for profit basis. They fully fund their operations and debt from revenue generated in a market environment, selling their services and products at commercial rates. Commercial Crown corporations collectively generate significant revenue for the government by way of dividends.
Examples of commercial Crown corporations include BC Hydro, Insurance Corporation of BC and BC Lottery Corporation.
FTE – Full Time Equivalent Employee. Please see Total Full Time Equivalent.
Government Partner - In reference to PSEC Secretariat’s role in the management of the public sector pension plans (Teachers’, College, Municipal and Public Service) to achieve the goals of the plans in a fiscally sustainable and equitable manner, to monitor government’s risk exposure and provide policy advice to both government and public sector employers.
Incentive Plans or Pay means compensation that is paid only when an employee has met certain performance goals within a specified period, whether performance is measured by reference to the financial performance of the organization or an affiliate, or any other performance measure. This includes retention-related payments.
- Medical Services Plan
- Extended health care
- Extended dental care
- Employee family assistance program
- Statutory benefits where the employee earns over the maximum set by the Government of Canada
Perquisites - in general, an item is not a perquisite if it is integrally and directly related to the performance of an executive officer’s duties. This concept is narrowly defined. If something is necessary for a person to do his or her job, then it is integrally and directly related to the job and is not a perquisite, even if it also provides some amount of personal benefit. For example, the cost of travel and registration to a conference related to the duties of the executive officer is not a perquisite.
- Colleges Institutes and Teaching Universities
- Community Social Services
- Crown Corporations
- Education (K-12)
- Public Service
- Research Universities.
Total Compensation - includes base salary, holdback or bonus, statutory and health benefits and pension contributions as well as other allowances and/or payments which may include vacation payout, sick leave payout, vehicle allowance, paid parking, severance/salary continuance, retirement allowance, professional fees and administrative leave.
Total Full Time Equivalent (FTE) – a unit of measure based on a Full Time Equivalent employee. As per the Employer’s definition, of all employees included in the Reporting Group for the reporting period. Include both regular and casual employees.
Includes, but not limited to:
- Basic pay
- Overload payments
- Shift premiums
- Stipends or allowances
- Payments in lieu of vacation
- Payments in lieu of benefits
- Retro payments (for the current year only)
- Vacation costs
- Costs for all paid leaves
Does not include:
- Gain sharing or incentive payments
- Health and welfare benefit costs
- Pension costs
- Statutory benefits costs (CPP, EI, WCB)
These are captured in the benefits fields
Includes, but are not limited to:
- group life
- accidental death and dismemberment
- long term disability
- sick leave
- short term disability
- short term illness and injury plan
- pension plan
- statutory benefits where the employee earns under the maximum set by the Government of Canada