Other Compensation Definition
Other compensation can include educational assistance, non-production cash bonuses and medical reimbursement accounts, which are not addressed by the FLSA (Fair Labor Standards Act).
Other Compensation 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 the IRS website.
What Is Considered Other Compensation? | Patriot Software
Last Updated By
Jenna Hutkowski | Apr 28, 2023