Union Dues

Automatic Checkoff
In labor economics, automatic checkoff refers to the authorization for the employer to deduct union dues and other assessments from an employee's salary automatically and remit them to the labor union; also called compulsory checkoff.
Compulsory Checkoff
A compulsory checkoff is a mandatory deduction from an employee's wages by the employer, commonly related to union dues or other agreed-upon charges.
Dues Checkoff
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.
Payroll Deduction
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.
Rank-and-File
The term 'rank-and-file' refers to the ordinary dues-paying members of a union who are not part of the union's leadership or officials.
Wage Assignment
A wage assignment is a voluntary transfer of earned wages to a third party for the purpose of paying debts, purchasing savings bonds, paying union dues, or contributing to a pension fund.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.