Common Payroll Deductions and Reductions
Common Payroll Deductions and Reductions
Payroll Deductions (do not reduce taxable income)
• Voluntary deductions (employee’s discretion)
o Life Insurance for self, spouse, or children
o Long-term Disability Insurance
o Long-Term Care
o Credit Union
o Roth 403(b)
o United Way
o OSU Foundation
o Stillwater Public Education Foundation
o Bursar Deduction
o Oklahoma College Saving Plan
• Involuntary deductions (court-ordered)
o IRS Levy
o Child Support
o Bankruptcy
o Garnishment
o Student Loan
o State Levy
o Processing Fee
Payroll Reductions (reduce social security, medicare, federal, and state taxable gross)
• Health Insurance
• Vision Insurance
• Dental Insurance
• Cancer Insurance
• Critical Illiness
• Salary Deferral – (Payback would increase the taxable gross)
• Flex Medical Reimbursement
• Flex Dependent Care Reimbursement
• Health Savings Account
• Parking
Payroll Reductions (reduce federal and state taxable gross only)
• OTRS reductions
• OLERS reductions
• 403(b) reductions – tax deferred annuities
• 457(b) reductions – tax deferred annuities
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