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Payroll Office

Earning Statement Definitions

Hazard Pay - Supplemental amount paid in positions eligible; Police Officers

Longevity Pay - Supplemental amount paid to Full-time non-faculty employees who have 24 months or more of state employment. Longevity Pay is paid at the rate of $20.00 per month per each 24 months of completed service.

Premium Sharing - Portion of your insurance benefit costs that is paid by the University. Premium Sharing is a tax free fringe benefit.

Withholding Tax - Federal Income Tax Withholding that has been withheld. Calculation of this amount is dependent on the information you provide on Form W-4. 

OASI - Old Age Survivors Insurance is your Social Security and Medicare tax. The amount deducted from your paycheck is matched and paid by the University as a Fringe Benefit.

Retirement - deduction for your contribution to your retirement plan; 6.4% for TRS members and 6.65% for ORP members. Retirement deduction reduces your taxable income applicable to the Withholding tax. University matches contributions of TRS and ORP deductions with 6.644% and 8.5%, respectively, as a non-taxable Fringe Benefit.

Annuity/Deferred Compensation - deduction for your elective Tax Shelter Annuity (403b Plan) or Deferred Compensation (457 Plan)

UTFLEX Medical/Dental - deduction you irrevocably elected to contribute to the Section 125 Plan with which to pay your out of pocket medical expenses.

UTFLEX Dependent Care - deduction you irrevocably elected to contribute to the Section 125 Plan with which to pay your Child Care expenses.

Insurance Premium Redirect - portion of your out of pocket deductions that are exempt from Withholding and OASI tax.

Taxable Gross - equal to Gross Salary + Longevity Pay + Hazard Pay - Retirement - Annuity - Deferred Compensation - all UTFLEX amount - Pre-tax Parking. Taxable Gross amount is used in determining Withholding Tax.

 


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