Earnings Statement Glossary
Hours And Earnings
Regular Pay: reflects your monthly salary. This code is used for employees that are paid over 12 months.
Contract Earnings: this pay code is for faculty positions and reflects monthly salary for faculty paid over 9-months or faculty who spread their salary over 12 months.
Contract Earned Not Paid: pay code reflects the portion of faculty monthly salary that is being deferred and banked, to your June, July, and August paychecks. This is for faculty that elected to be paid over 12 months instead of 9.
Hazard Pay: is a supplemental amount paid to individuals in positions eligible for pay, such as police officers.
Longevity Pay: is a supplemental amount paid to full-time non-faculty employees who have 24 months (effective 09/01/2005) or more of state employment.
Taxes
Fed Withholding Tax: The amount of federal income taxes withheld from your pay. The amount is based on your taxable income and the withholding allowances you selected on IRS Form W-4.
Fed Med/EE or Social Security: The amount of Social Security taxes withheld from your pay as required by the Federal Insurance Contributions Act. These taxes are subject to change by Congress and are assessed up to the established federal wage limit. The current rates and wage limit are posted on the Payroll Services website.
Fed OASDI/EE or Medicare: The amount of Medicare taxes withheld from your pay as required by the Federal Insurance Contributions Act. These taxes are subject to change by Congress and are assessed on all wages.
Before-Tax Deductions
Medical/Dental/Vision: Employee monthly premium for health, dental, or vision coverage.
Annuity/Deferred Compensation: the deduction for your elective tax sheltered annuity (Section 403(b)) or deferred compensation (Section 457) plan.
FLEX Dependent Care: that amount of money you irrevocably elected to contribute to a Section 125, to pay your child care costs. This amount is not subject to either withholding tax or OASDI tax.
FLEX Medical/Dental: that amount of money you elected to contribute to a Section 125 plan, to pay your out-of-pocket eligible medical or dental bills. This amount is not subject to either withholding tax or OASDI.
Teacher Retirement or Optional Retirement: the deduction for your contribution to your retirement plan; 6.7% for TRS members and 6.65% for ORP members of your Gross + Longevity Pay.
Employer Paid Benefits
Medical Premium Sharing: that portion of your insurance cost that is paid by the Ãå±±ÂÖ¼é.
Optional Retirement Plan: Employer match to employee contribution. The Ãå±±ÂÖ¼é contributes 8.5% to your retirement plan for TRS as a fringe benefit.
Teacher Retirement Plan: Employer match to employee contribution. The Ãå±±ÂÖ¼é contributes 8.0% to your retirement plan for TRS as a fringe benefit for FY 2022-2023.
Worker’s Compensation Insurance: Insurance paid by the Ãå±±ÂÖ¼é for employees to receive medical benefits for work related injury or occupational illness
Total Gross To Net Pay
Total Gross: All Earnings including salary, longevity, hazardous pay.
Taxable Gross: Total Gross - Retirement - Annuity/Deferred Compensation - All FLEX Amounts - Parking (If you elected pre-tax parking).
Total Taxes: Federal Withholding, Medicare, and Social Security.
Total Deductions: All deductions including before and after tax.
Net Pay: Total Gross minus Total Taxes and Total Deductions.