In insurance, an arrangement whereby premiums on employees' insurance are deducted directly from the workers' wages and forwarded to the insurance company by the employer. Also used to indicate similar handling of employee contributions to an employee benefit plan.
This popular convenience service allows members to have savings deposits and loan payments made from their paychecks automatically. Members can payroll deduct to Regular Shares, Holiday Club, Checking, IRA and Money Market accounts, and can make consumer and home equity loan payments as well. Members can even designate a portion of their payroll deduction to be deposited in a family member's account. Transfers from the member's account to the family member's account are made on the first of every month. This FREE service allows members to accomplish one of the most important principles of good money management.
A convenient method of purchasing insurance and other benefits through work by having premiums deducted by the employer and forwarded to the insurance company.
When you have all the taxes and other amounts deducted from your pay check, you can have the remainder deposited automatically into your checking account.
The action of removing a pre-determined monetary sum from employees or members of your organization. The sum comes directly from their paycheck..
Payroll Deduction is a manual process in which a person's payroll is deposited. The payroll office usually sends the financial institution one check, to be dispersed to the named accounts.
An amount of money which is taken with permission directly from an employee's pay before they receive it. Apart from income tax, common payroll deductions include superannuation and union dues.
a deduction for SECU made before the Employee's net pay is deposited to their checking account
a specified allotment designated by you to be withheld from each paycheck, and forwarded to the credit union, for deposit to savings accounts
Usually instituted by a local association's collective bargaining, a payment option for NYSUT benefits whereby premium payments for insurance and other forms of coverage are deducted from a member's pay with his or her written consent.
Money taken out of your paycheck by your employer to pay for a benefit or service you receive.
The amount taken from the employee's earnings with his/her consent, as contribution toward the cost of the group insurance plan.
Money taken out of your paycheck before it is given to you
Relating to group insurance, the employee's share of premiums deducted from his or her payroll earnings and then paid to the insurance company by the employer.
The process by which members purchase additional retirement credit through monthly installments for service credit that qualifies as purchasable.
Allows members to send part of their pay or retirement checks directly to FAFCU accounts.
The policyholder authorizes his or her employer to deduct amounts from the employee's earnings to cover the premium.
allows members to send part of their pay, retirement, insurance or investment checks directly to any SCU account