Definition of «retroactive payments»

Retroactive payments refer to money that is given to someone for past time periods, usually because they were owed that money but it wasn't paid to them on time. It's like getting paid for the work you did in the past but didn't receive the payment for until later.

Sentences with «retroactive payments»

A new limitation is being introduced with regard to eligibility for retroactive payments. (moneysense.ca)
Moreover, the company made retroactive payments to its executives for about two - thirds of the income they lost while the program was in effect, on the theory that its stock price in 1981 was about two - thirds of its 1979 price. (heritage.org)
While we appreciate that the State issued this guidance, HCP and the home care industry need the State to take immediate steps to ensure that home care providers that have followed previous State Labor 24 hour live - in payment guidance in good faith will not be held liable for six years of retroactive payments. (nystateofpolitics.com)
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