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WordNet-Online
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Definitions from the WebTrue-up ContributionsDefinition:True-up contributions refer to additional payments made by an individual or company to reconcile any discrepancies or correct underpayments made towards an obligation or account. Sense 1: NounIn the context of employee benefits, true-up contributions are additional payments made by an employer to match the required amount for an employee's retirement savings plan. Example sentence: The company made true-up contributions at the end of the year to ensure that all employees had sufficient funds in their retirement accounts. Sense 2: VerbWhen used as a verb, true-up contributions mean to make the necessary adjustments or additional payments to balance an account. Example sentence: The customer true-upped their mortgage payments to catch up on the previous underpayments. | ||||
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