Etymology
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overage (n.)

"a surplus amount," by 1910, a banking term, coined from over on model of shortage.

updated on December 07, 2019

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Definitions of overage from WordNet
1
overage (n.)
a surplus or excess of money or merchandise that is actually on hand and that exceeds expectations;
2
overage (adj.)
too old to be useful; "He left the house...for the support of twelve superannuated wool carders"- Anthony Trollope;
Synonyms: overaged / superannuated / over-the-hill
Etymologies are not definitions. From wordnet.princeton.edu, not affiliated with etymonline.