lump sum

noun

: an amount of money that is paid at one time : a single sum of money

The bonus is paid out in a lump sum.

take their winnings as a lump-sum payment

Examples of lump sum in a Sentence

Recent Examples on the Web

With the latter, the winner receives just over half that amount as a lump sum payment. —The Arizona Republic, 18 Apr. 2024

The plan also raises the maximum salary range for all pay grades by 10% and authorizes new incentives for future recruits and current employees who go above and beyond, either through a lump sum payment or through extra hours of paid leave, according to the governor. —Michael R. Wickline, arkansasonline.com, 11 Apr. 2024

The jackpot has a cash value of $621 million if the winner chooses to take a lump sum rather than an annuity paid over 30 years, with an immediate payout followed by 29 annual installments. —Claire Rush, Fortune, 10 Apr. 2024

If the lump sum payment is chosen, the prize amount will drop to $341.77 million after a mandatory federal tax withholding of 24% is applied. —Siladitya Ray, Forbes, 28 Mar. 2024

Jackpot winners have the option of taking a lump sum cash payment or having the winnings dolled out over the course of 30 years in annual installments. —Jordan Freiman, CBS News, 27 Mar. 2024

The lump sum payment is estimated at $384.8 million for Powerball and $525.8 million for Mega Millions, both before taxes. —Mirna Alsharif, NBC News, 24 Mar. 2024

The sole winner of a jackpot can choose to be paid in a lump sum or through an annuity for the full amount, with annual payments over 30 years. —Mirna Alsharif, NBC News, 31 Mar. 2024

Types of Small Business Loans Term loans: A lump sum is given upfront, which is repaid over a specific period with a set interest rate. —Melissa Houston, Forbes, 30 Mar. 2024