Student Name - Unit 3 – Earning Unit – Key Terms/Information/Vocabulary
1.	Federal Income Tax:
2.	State Income Tax:
3.	Federal Insurance Contributions Act (FICA):
4.	Medicare:
5.	Social Security:
6.	Local Income Tax:
7.	IRS Form W-4:
8.	Gross Pay:
9.	Net Pay:
10.	Overtime Pay:
11.	Commission:
12.	Tips:
13.	Bonuses:
14.	Performance Reviews:
15.	Opportunities for Promotion:
Please go to the “DOL-Youth Rules” website at www.youthrules.dol.gov to answer questions 17-20 (the link to this website is also on the class “Finance Projects” page):
16.	Is there a federal limit for the number of hours or times of day for workers 16 years or older?
17.	According to Federal law, what wage can employers pay youth workers under the age of 20 during their first 90 consecutive calendar days of employment?

18.	What is the amount of the federal minimum wage?
19.	What is the amount of the state minimum wage in MA?
20.	Paid Leave:
21.	Health Insurance:
22.	Retirement Savings Plan:
23.	Life & Disability Insurance:
24.	Tuition Assistance:
25.	Training & Professional Development:
26.	Compensation Package:
27.	List 9 Ways You Can “Jump-Start” Your Career Journey and explain them:
28.	List 10 Ways You Can “Speed Up” Your Trip to the Top and explain them:
29.	How many full-time jobs will the average American have before the age of 44?
30.	If you have a gap in employment, what are the 3 things you should do?