Instead, he could receive his his entire $3,454,500 salary.
Adrian Wojnarowski of ESPN:
The Wizards are in line to save $6,146,794 in luxury tax with this move. Subtract the amount paid to the Bucks, which surely includes at least Meeks’ full salary. But that’s still at least $ 2,692,294 in savings, which is why Washington also sent a draft pick.
But the big winner is Meeks, who can’t serve a suspension while not on a roster and therefore can’t have his pay docked. If he signs again in the NBA, he’d still have to sit 19 games, but his lost salary would almost certainly be based on a minimum salary, not the higher amount he’s due this year.