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  1. #1
    Join Date
    Sep 2017
    Posts
    9

    Can company owner earn interest off of money held back from earned bonuses?

    What is the name of your state (OH)?

    I worked for a company that had a monthly bonus that was based on performance. They hold back a percentage of that bonus and give it to you at the end of the year. If you earned $1000 (the max amount), $250 is kept back. Since I'm sure this "hold back money" isn't sitting in a shoebox under the CEO's bed, can he legally earn money on interest of money that is technically mine?


  2. #2
    Join Date
    Mar 2005
    Location
    Merida, Mexico
    Posts
    6,057
    The held-back money must be in the company's bank account, not the CEO's personal account (even if the CEO is the owner of the company). If the company account is an interest-bearing account, then yes, the company (not the CEO, even if the CEO is the owner) will earn interest on that held-back money. And yes, this is perfectly legal.


  3. #3
    Join Date
    Sep 2017
    Posts
    9
    Bummer. Thanks for the quick reply!


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