Shared Work Benefit Law and Legal Definition
Shared work benefit is an unemployment compensation benefit that is payable to an individual in an affected unit because the individual works reduced hours under an approved shared work plan. This benefit is available to the workers working under a shared work plan. Shared work plan is an alternative to lay-off. It allows the employers facing a temporary decline in business to reduce the hours and wages of all or a particular group of employees. The employees will receive partial unemployment insurance benefits to supplement their lost wages.