Other Compensation Definition

Term Definition
Other compensation can includeeducational assistance, non-production cash bonuses and medical reimbursement accounts, which are not addressed by theFLSA(公平劳动标准法案》)。

Extended Definition
Compensation received by an employee can be divided under two categories-reportable and other. Compensation accounted for in employee’s Form W-2 is called reportable. Other compensation includes benefits not covered in this category. The Department of Labor (DOL) statistics includes educational assistance, non-production cash bonuses and medical reimbursement accounts under other compensation. For additional information on reportable and other compensation, please consult theIRSwebsite.

Related Article:
What Is Considered Other Compensation?