Put More Money in Your Pocket Each Payday



I am [POSITION] of the [NAME OF CHAPTER] chapter of the American Payroll Association, a nonprofit association with more than 21,000 payroll members, including a multitude of members throughout [CITY/COMMUNITY]. A recent survey revealed approximately 66.7 percent of America’s employees would experience financial difficulties if their paychecks were delayed for one week.* I am worried more workers don’t know about free money savings options offered by many employers as simple payroll deductions. As the need to stretch each paycheck is ever increasing in these financially trying times, I have provided a few easily adopted payroll savings options your readers can use to keep more of their hard-earned dollars in their pockets. Pay attention to tax withholding. A large tax refund ($1,000 or more) is a red flag indicating you have overpaid your taxes each paycheck. You gave an interest-free loan to the government. Adjust your Form W-4 to put more money in each paycheck. My association has several tips on its website nationalpayroll. to help people claim the proper tax withholding.Use Flexible Spending Accounts. This benefit offers a menu of savings options to help lower taxes and provides savings of up to 35 percent on services like child care, medical expenses, transportation to work, and parking. Ask your payroll department for more information about the cafeteria plan offered at your company. Use direct deposit. Direct deposit is an easy way to manage a paycheck and increase savings. Set up separate automatic allotments to checking and savings accounts to live within your budget and add to your savings. Plus, with direct deposit you don’t have to worry about picking up and cashing your check on payday — the money will already be in your account. Be smart about your 401(k) and other tax-advantaged retirement plans. Find out if your company offers matching funds for your retirement contributions. If it does, contribute as much as you can; otherwise, you are giving up “free” money. Visit for tips, tools and calculators to help you get more from your paycheck. While you’re there, take the “Getting Paid In America” online payroll survey. Your participation will help the payroll industry improve how you’re paid. [NAME] [TITLE] [NAME OF CHAPTER] American Payroll Association (Chapter Address) (Chapter City/State/ZIP) (Chapter Phone) *Results of the American Payroll Association’s 2015 “Getting Paid In America” survey. ................
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