Legacy cost
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Legacy costs is a contract costs for retiree benefits increases in retirement and health care provided in earlier contracts.
Definitions
According to Labor Relations and Collective Bargaining by Michael R. Carrell and Christina Heavrin (10th edition),
- Legacy costs. A contract costs for retiree benefits increases in retirement and health care provided in earlier contracts.
Related concepts
- Labor relations. The systematic study of attitudes, motivations, and behaviors which two or more job-market actors assume toward each another.
