Meaning of arrearage

ar•rear•age

Pronunciation: (u-rēr'ij), [key]
— n.
  1. the state or condition of being in arrears.
  2. Often,arrears; amount or amounts overdue.
  3. a thing or part kept in reserve.
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.