Dues checkoff refers to the authorization by an employee for the employer to withhold union dues directly from their paycheck, demonstrating a cooperative relationship among the employer, employee, and union.
A payroll deduction refers to the reduction of the amounts paid to a worker from their gross earnings to cover various costs, such as taxes, savings, pension contributions, union dues, and insurance premiums. The paycheck reflects the gross pay minus these deductions.
A Save-As-You-Earn (SAYE) scheme is an employee savings plan common in the United Kingdom that encourages savings and offers employees the opportunity to acquire company shares through payroll deductions.
A voluntary plan, short for voluntary deductible employee contribution plan, is a type of pension plan where the employee elects to have contributions (which, depending on the plan, may be before or after-tax) deducted from each paycheck.
