noun
merit bonus; service award payment
A monetary reward given in recognition of meritorious service or contributions, often in a workplace or organizational context.
長年の功績に対して功労金が支給された。
A merit bonus was awarded for years of distinguished service.
報奨金 is a reward or incentive payment, often for achieving a specific goal, whereas 功労金 emphasizes recognition of past service and contributions.
Compound of 功労 (meritorious service) and 金 (money). The exact historical derivation is uncertain, but the term is conventionally associated with monetary rewards for service.