Wage assignment

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Wage assignment

A loan agreement provision allowing the lender to deduct payments from an employee's wages in case of default.

Wage Assignment

A voluntary deduction from a person's paycheck. One may contribute to a retirement account, repay a debt, or make any number of other payments through wage assignment. It contrasts with wage garnishment (which is done for taxes or child support, for example) because it is voluntary.
References in periodicals archive ?
Wage assignments may now be ordered by a court for all past due support payments rather than only for child-support payments, and the amount of wages exempt from such withholding was made the same for child or spouse support.
site visitors can learn more about new hire reporting, find out how the Year 2000 will affect computer systems around the world or prepare for the next big payroll issue looming on the horizon, such as wage assignments (garnishments) calculations and third-party payments.
com, viewers also will be notified of ongoing improvements to Ceridian's core payroll service, including new and expanded categories for information; multiple 401(k) deductions associated with one employee, one limit; wage assignments (garnishments) calculations and third-party payments; and better accommodation for telecommuters with local and regional tax processing support.
Ongoing improvements to Ceridian's core payroll service also include: create new and expanded categories for information; associate multiple 401(k) deductions to one employee, one limit; calculate wage assignments (garnishments) and third-party payments; and better accommodate telecommuters with local and regional tax processing support.