overpayment
nounEtymology From over- + payment.
1
Payment exceeding the amount actually due.
- The employer sued to recover overpayment of wages.
- The Social Security Administration announced Friday that it will no longer automatically withhold 100% of the overpayment amount from recipients’ monthly benefits. Instead, it will collect 10% – or $10, whichever is greater – to recover the overpayment. […] The Social Security Administration recovered more than $4.9 billion in overpayments in fiscal year 2023 but still ended the year with a total balance of $23 billion in uncollected payments.2024 March 29, Tami Luhby, “Social Security slashes amount of overpayments beneficiaries must pay back”, in CNN:
- Related terms
- underpayment, overpay