Flare-up

In workers’ compensation cases, this phrase is sometimes used to refer to a recurrence of an industrial injury or illness and refers specifically to the symptoms that are considered to be related to the natural course of the previous injury or illness and not to a new injury from current employment.

Flat amount formula

Mathematical method used to determine the retirement benefit for participants in a defined benefit pension plan (DBPP). This type of formula gives the same monthly or annual benefit amount to each retiree (e.g., $700 per month).

Flexible benefit plan

Managed care plan offered by an employer to his or her employees that allows them to select the type and amount of benefits from among options the employer offers. It also allows employees to make contributions required for their choice of benefits with before-tax dollars. Also called cafeteria plan, flexible benefit option, flex plan , or flexible compensation .