WITH 401k match How to read your pay stub - Meijer
How to
Read Your
Pay Stub 1
This document will
help you understand
pay stub terminology.
Your pay stub is
available each week
through MyInfo online.
2
3
4 5
6
7 8
1
Pay Stub Summary Information
Gross: Includes the total amount of income that you
2 Federal and State W4 Information Federal Data: When you were first hired you were
earned during a particular pay period (at Meijer each
required to fill out an online W-4 form. This information
pay period is one week in length). This figure does not
is used to determine the amount to deduct from
factor in tax withholdings or other deductions.
each paycheck for federal income tax withholding.
Taxes: Includes total taxes deducted from your paycheck. See more under Tax Detail Information.
The amount can vary depending on the number of exemptions you chose to claim.
Deductions: Payments deducted from your paycheck. See more information under Deduction Detail Information.
Resident State Data: Depending on your state of residence, you may or may not be required to pay a state tax. Most states however, do participate, so this information is used to determine the amount deducted
Net: Represents the amount of income left after all
from your paycheck to help cover the tax that you may
taxes and deductions have been withheld.
owe to the state when your tax return is filed.
How to Read Your Pay Stub
3 Earning Detail Information Regular Earning: This is the amount of pay you earn for non-overtime hours you work in a week.
Weekly Over: This is the amount of pay you earn for
hours worked over 40 in a week.
4 Employer matching 401(k) contributions This shows the employer matching contributions deposited to your 401(k) account. Employer matching contributions are deposited weekly to your 401(k) account and are not included in your gross pay. You can access your 401(k) account by clicking on the Benefits Menu in MyInfo.
Please note the amounts displayed are for the 401(k) matching contributions as of last week.
5 Tax Detail Information Withholding (Federal): See Federal Data above
MED/EE: (Employee tax for Medicare): Like Social Security withholdings, Medicare withholdings are also mandatory. Every employee pays 1.45% of their paycheck toward Medicare, and every employer contributes an additional 1.45% on behalf of the team member. Beginning January 1, 2013, an employer must withhold Additional Medicare Tax (0.9%) from wages it pays to an individual in excess of $200,000 in a calendar year, without regard to the individual's filing status or wages paid by another employer. This is required by Section 9015 of the Patient Protection and Affordable Care Act (PPACA).
OASDI/EE (Employee Tax for Old Age, Survivors, Disability Insurance - also called Social Security): The Federal government requires every employee to have a certain percentage of their paycheck withheld for social security purposes. This entitles you to receive a monthly social security payment upon retirement. For wages paid in 2013, employees and employers each pay 6.2 percent in OASDI taxes
up to a maximum of $7,049.40 (maximum earnings the tax is computed on is $113,700). For someone who has taxable wages of $30,000 in 2013, the employee and employer will each pay $1,860.00.
Withholding (State): This is the amount deducted from a team member's pay for state income tax.
Withholding (Locality): This represents local taxes applied to team members of certain cities, counties or school districts.
6 Deduction Detail Information Insurance Deductions: Payments for such types of insurance as health (medical and dental) and life insurance.
Retirement Plan Contributions: 401(K) savings plan.
You may have additional deductions from your pay such as United Way, Meijer Associate Investment Plan (MAIP), Union, garnishments, etc.
7 Pay Distribution Detail Information Lists financial institutions where your pay is deposited.
8 Paid Time Off Detail Includes vacation hours or paid time off hours. This details how many Vacation and/or PDO hours have been used to date (anniversary date), and how many hours are remaining for the team member's anniversary year.
YTD (for pay and deductions): The year-to-date fields on your pay stub show how much you have earned in a specific earning category or how much you have paid toward a particular withholding or tax at any point in the calendar year. This is based on pay dates within the calendar year. For example week ending 12/31/11 was paid on "check" date 1/6/12.
................
................
In order to avoid copyright disputes, this page is only a partial summary.
To fulfill the demand for quickly locating and searching documents.
It is intelligent file search solution for home and business.