Chapter 5 Financial Literacy

A summary of the income you earned that year and all amounts the employer withheld for taxes.

• Form W-4

• Form W-2

• Minimum Wage

• Allowances

The law that established a national insurance program that provides financial help for the elderly and for disabled workers.

• Civil Rights Act of 1964

• Fair Labor Standards Act

• Unemployment Insurance

• Social Security Act

A form you fill out when you begin working that determines the amount your employer will withhold from your paycheck for incomes taxes.

• Form W-4

• Form W-2

• Minimum Wage

• Allowances

Insurance program that pays benefits to workers and their families for injury, illness, or death that occurs as a result of the job.

• Equal Pay Act

• Fair Labor Standards Act

• Workers' Compensation

• Family and Medical Leave Act

The lower limit on wages that employers can pay workers per hour.

• Minimum Wage

• Allowances

• Fair Labor Standards Act

• Equal Pay Act

The law that allows employees to take up to 12 weeks of unpaid leave for the birth or adoption of a child and for personal illness or the illness of an immediate family member.

• Americans with Disabilities Act

• Family and Medical Leave Act

• Workers' Compensation

• Social Security Act

The law that prohibits discrimination in hiring, training, and promotion on the basis of race, color, gender, religion, or national origin.

• Fair Labor Standards Act

• Age Discrimination in Employment Act

• Equal Pay Act

• Civil Rights Act of 1964

The law that prohibits discrimination in employment decisions against people age 40 and over.

• Americans with Disabilities Act

• Civil Rights Act of 1964

• Age Discrimination Employment Act

• Equal Pay Act

The number that you calculate on Form W-4 that reduces the amount of tax withheld from your paycheck.

• Exempt Status

• Minimum Wage

• Allowances

• Social Security Number

People under the age of legal adulthood.