INCLUDIBLE COMPENSATION is defined in section 403(b)(3) of the Internal Revenue Service (IRS) Code as compensation, received from a qualifying employer by an employee, which is includible in the employees gross income for the most recent period which may be counted as 1 year of service. In this connection, section 1.403(b)-1(e)(1) of the regulations provides that for purposes of computing an employees exclusion allowance for a taxable year, such employees includible compensation in respect of such taxable year means the amount of compensation which is includible in his gross income.
TARGET is the goal intended to be attained and which is believed to be attainable, e.g. sales target, margin target, or profit target.
15 MINUTE RULE is a timekeeping method used as a semi-official delay prior to ending or beginning an activity. For example: a. Only waiting for a tardy college instructor for 15 minutes prior to the class being terminated, or, b. Putting a 15 minute hands-off delay before impulsively eating a candy when dieting.
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