Return to flip book view

How to Read my Pay Slip Payroll and Employee Benefits

Table of Contents Page Description 3 Sample Paystub 4 Sample Paystub Key 5 Full-Time Employee Deductions6 Benefit Deductions7 Substitute or Temp Employee Deductions8 How to contact payroll & benefits 9/20/2023 Payroll and Benefits 2

9/20/2023 Payroll and Benefits 3

1These are types of pay. You will see your base pay along with any extra pay you receive such as stipends, overtime, or supplements for extra assignments. Tip: YTD= Year to Date 2These are your deductions, which are expenses that are subtracted from your paycheck. Some deductions are mandatory, and some are voluntary. You can find more details on pages 6-8.3This shows your direct deposit information. You will see all active direct deposits here. Tip: Monthly employees are required to set up direct deposit. 4These are details about your Federal Income Tax. More details can be found on page 5.5This is a breakdown of your leave, state and local, days. The balance shows how many days you have remaining. 6This shows a basic snapshot of your pay and deductions.7This is the address we have on file for you. You can make changes to your address in Munis Self-Service. For questions, please contact Susan.L.Moore@risd.org. 8“Non-Negotiable” means your paystub cannot be deposited or cashed. 9/20/2023 Payroll and Benefits 4

I am a Full-Time Employee… What are my deductions? Let’s start with your deductions that are mandatory. FIT Federal Income Tax Your tax bracket depends on your taxable income and filing status. Tip: Your W4 elections determine the amount of federal income tax you pay.MEDICAREMedicare TaxThis is a federal employment tax that funds a portion of the Medicare insurance program. The total tax amount is split between employers and employees, each paying 1.45%. TRS RETIRETeacher Retirement System required member contribution. As of 9/1/2023, the current member contribution rate is 8.25%. TRS MEDICALTRS Care As a TRS member you also contribute 0.65% of your salary to TRS Care, the retirees’ group health benefits program. 9/20/2023 Payroll and Benefits 5

What if I Signed up for Benefits? The following is a list of deductions for Benefits. Depending on what you’re enrolled in, you may see these deductions on your pay slip. Health Benefits MEDICAL Medical insurance DENTALDental insurance VISION Vision insurance HEALTH FSAFlexible Spending AccountHSA Health Savings AccountLife & Disability BenefitsLTD HIGH/LOWLong Term Disability insurance STD HIGH/LOWShort Term Disability insurance EMP LIFEEmployee Term Life insurance SPOUSE LIFE Spouse Term Life insurance ADD INS Accidental Death & Dismemberment Life insurance CHILD LIFEChild Term Life insurance 9/20/2023 Payroll and Benefits 6

I am a substituteor tempemployee… What are my deductions? The following deductions are mandatory. PLAN 457457(B) FICA Alternative PlanThe FICA Alternative Plan requires a 7.5% contribution to a retirement account. The deferrals are made on a “pretax” basis, unlike Social Security, which are made on an “after-tax” basis. MEDICAREMedicare TaxThis is a federal employment tax that funds a portion of the Medicare insurance program. The total tax amount is split between employers and employees, each paying 1.45%. FIT Federal Income Tax Your tax bracket depends on your taxable income and filing status. Tip: Your W4 elections determines the federal income tax you pay.9/20/2023 Payroll and Benefits 7

Ways to stay connectedfor the latest updates and information…Visit our “Payroll and Employee Benefits” department page on the RISD IntranetFollow us on Schoology! Access Code: 3G8VS-ZV4C8Twitter: @RISD_Benefits Payroll and Benefits:Annex Bldg., 420 S. Greenville Ave. Richardson, TX 75081Phone: 469-593-0605Email: PayrollandBenefits@risd.org9/20/2023 Payroll and Benefits 8