deferred compensation

noun

Legal Definition of deferred compensation

: current compensation (as wages or salary) deferred until a later time usually for the purpose of investment (as in a retirement plan)

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“Deferred compensation.” Merriam-Webster.com Legal Dictionary, Merriam-Webster, https://www.merriam-webster.com/legal/deferred%20compensation. Accessed 24 Oct. 2020.

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