Merriam-Webster Collegiate Dictionary - benefit

 I. noun  Etymology: Middle English, from Anglo-French benfet, from Latin bene factum, from neuter of bene factus, past participle of bene facere  Date: 14th century  1. archaic an act of kindness ; benefaction  2.  a. something that promotes well-being ; advantage  b. useful aid ; help  3.  a. financial help in time of sickness, old age, or unemployment  b. a payment or service provided for under an annuity, pension plan, or insurance policy  c. a service (as health insurance) or right (as to take vacation time) provided by an employer in addition to wages or salary  4. an entertainment or social event to raise funds for a person or cause  II. verb  (~ed; also -fitted; -fiting; also -fitting)  Date: 15th century  transitive verb to be useful or profitable to  intransitive verb to receive ~ has ~ed from his experience  • ~er noun