Menu: [ Guidelines | BODs | Nouns | Global Elements | WSDL | Packages | Code Lists | Master Index ]
Name | PayrollDeferral |
---|---|
Type | PayrollDeferralType |
Documentation (of type) |
Dictionary Entry Name: Payroll_ Deferral. Details Definition: Contains information about amounts employee's elect to contribute to a savings plan or similar retirement account. A deferral is an amount that an employee could have accepted as current pay, but instead elected to defer for later receipt as a payment from a retirement plan or other tax-preferred account. Employees typically elect to make deferrals to reduce the amount of pay currently subject to taxation and to gain other tax benefits, such as the tax-free accrual of earnings on deferred amounts. |