New paycheck key
- View paycheck and match up the information with the descriptions below.
A) General information regarding the employee's pay group, pay period beginning and ending dates, check number, and check date
B) Employee's name, home address, Social Security number, and PeopleSoft payroll employee ID number
C) Check or advice number and the distribution of net pay
D) Federal and state tax data as set up in the PeopleSoft payroll system
E) Current and YTD earnings information
*Tuition waiver is a taxable, noncash item. Noncash items do not add to the total gross pay, although they appear as taxable earnings.
F) Current and YTD employee-paid taxes
* Note: Social Security is reflected in two parts:
- FICA-Old Age Survivors Disability Insurance (6.2%)
- FICA-Medicare Hospital Insurance (1.45%)
G) Current and YTD employee before-tax deductions; these items are deducted from gross pay before federal and state withholding are calculated
H) Current and YTD employee after-tax deductions; these items are deducted after federal and state withholding are calculated
I) Current and YTD benefits paid by Southern Miss on behalf of the employee. The items in this section are for the employee's information only, with the exception of Lamar Life,* which is a taxable noncash benefit previously referred to as LITA and which adds to the employee's federal, state, and FICA taxable gross.
J) Breakdown of medical leave hours
K) Breakdown of personal leave hours
L) Summary pay information: Current and YTD totals of gross pay, federal taxable gross, taxes, deductions, and net pay.
- Gross - Taxes - Deductions = Net Pay
- Federal Taxable Gross is for your information only
M) Net pay, in the form of either an actual paycheck or, for those who use direct deposit, an "advice" that displays the direct deposit breakdown, including bank name, account type (checking or savings), account number, and amount of direct deposit
* The address to which the check or advice will be distributed