Have you ever read through an HR document and realized you needed a glossary just to follow along? At Commonwealth Payroll & HR, we’re all about making your life easier. So, we’ve created this simple, alphabetical cheat sheet of the most common acronyms you’re likely to come across in the world of human resources and payroll.
It’s designed especially with SMBs (small and midsize businesses) in mind. Whether you’ve got a handful of employees or you’re growing fast, this list is here as your quick reminder when you need to know, or need to remember, what all those letters actually stand for.
A – F
- ACA: Affordable Care Act
Federal law aimed at expanding access to health insurance and regulating health care costs. - ADA: Americans with Disabilities Act
A law that prohibits discrimination against individuals with disabilities in all areas of public life, including employment. - DOL: Department of Labor
A federal agency responsible for occupational safety, wage standards, unemployment insurance, and more. - EIN: Employer Identification Number
A unique number assigned to your business by the IRS. Think of it as a Social Security Number for your company. - EEO: Equal Employment Opportunity
Laws that ensure everyone has a fair shot in hiring and employment practices, regardless of race, gender, age, etc. - FLSA: Fair Labor Standards Act
The law that sets minimum wage, overtime pay, and other labor standards. - FMLA: Family and Medical Leave Act
Provides eligible employees with unpaid, job-protected leave for certain family and medical reasons. - FSA Flexible Spending Account
An account that employees can contribute pre-tax dollars to for qualified medical expenses.
G – M
- GTL: Group Term Life
A common life insurance benefit offered to employees, sometimes taxable depending on the coverage level. - HCM: Human Capital Management
A comprehensive approach to managing your workforce, from recruiting to performance to compliance. - HRA: Health Reimbursement Arrangement
A type of account-based health plan where employers can reimburse employees for qualified medical expenses. - HSA: Health Savings Account
A tax-advantaged savings account used with high-deductible health plans to pay for medical expenses. - HRIS: Human Resources Information System
Software that helps manage HR functions like payroll, benefits, and employee data. - I-9: Employment Eligibility Verification
A form used to verify the identity and work authorization of new employees in the U.S. - IRS: Internal Revenue Service
The government agency that handles taxes. Yes, that IRS. - LMS: Learning Management System
A platform where employees can access online training and development resources.
N – Z
- OSHA: Occupational Safety and Health Administration
The federal agency that sets and enforces workplace safety standards. - PTO: Paid Time Off
A bank of hours employees can use for vacation, sick leave, or personal time. - SUTA: State Unemployment Tax Act
A state-level tax that employers pay to fund unemployment benefits. - SSA: Social Security Administration
The agency that administers social security and handles your employees’ retirement and disability benefits. - W-2: Wage and Tax Statement
A form employers send to employees and the IRS showing annual wages and tax withholdings. - W-4: Employee’s Withholding Certificate
Used by employees to tell employers how much federal income tax to withhold from their paycheck. - 401(k): A retirement savings plan that lets employees save and invest a portion of their paycheck before taxes.
Commonwealth Payroll is Here to Help
At Commonwealth Payroll & HR, you’re never just a number or a ticket in a queue. Our team is here to provide real, human support when you need it, because behind every acronym is a real business challenge you’ll face as you grow. Keep this cheat sheet handy, and when you need help connecting the dots, we’re just a call (or click) away.
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