Other Compensation Definiton
August 10, 2017treehouseadmin
Other compensation can his includes educational assistance, non-production cash bonuses and medical reimbursement accounts, which are not addressed by the FLSA (Fair Labor Standards Act).
Compensation received by an employee can be divided under two categories-reportable and other. Compensation accounted for in employee’s Form W-2 Box 5 (non-employee’s Form 1099-MISC Box 7) 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 the IRS website.
What Is Considered Other Compensation?