Contribution: The appraisal principle that states that the value of any component of a property is what it gives to the value of the whole or what its absence detracts from that value.

 

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Contribution: The appraisal principle that states that the value of any component of a property is what it gives to the value of the whole or what its absence detracts from that value.

Pre-Tax Contributions: Contributions made to a benefit plan that are exempt from all applicable state or federal tax withholding requirements.

Excess Contribution: An excess contribution occurs when the salary deferrals or matching contributions of highly compensated employees are higher than the amounts permitted by federal law. If that happens, the c . . . View Full Definition

Defined Contribution Plan: In a defined contribution retirement plan, the benefits — that is, what you can expect to accumulate and ultimately withdraw from the plan — are not predetermined, as they are with a defined . . . View Full Definition

Post- Tax Contributions: Contributions made to a benefit plan that are subject to applicable state or federal tax withholding requirements.

Pretax Contribution: A pretax contribution is money that you agree to have subtracted from your salary and put into a retirement savings plan or other employer sponsored benefit plan. Your taxable earnings are r . . . View Full Definition

EFC (Expected Family Contribution): A formula established by the U. S. Congress calculates the Expected Family Contribution (EFC) or what the family can contribute to education. Greenville Technical College determines the stud . . . View Full Definition

After-Tax Contribution: An after-tax contribution, or excess deferral, is money you put into your 401(k) or other employer sponsored retirement savings plan in addition to your pretax contribution. You might make a . . . View Full Definition

Catch-Up Contribution: You are entitled to make an annual catch-up contribution to your employer sponsored retirement savings plan and individual retirement account (IRA) if you’re 50 or older. The catch-up amount . . . View Full Definition

Federal Insurance Contributions Act (FICA): The Federal Insurance Contribution Act (FICA) is the federal law that requires employers to withhold 6.2% from their employees' paychecks, up to an annual earnings cap. Employers must match . . . View Full Definition