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payroll:tables:taxdeductions:annuityrates
Annuity Rates - HRS2400
Payroll > Tables > Tax/Deductions > Annuity Rates
This is an alternative to paying full FICA/Medicare for those employees (e.g., substitutes and part-time employees) that do not participate in a qualified retirement plan (TRS). The amount of contribution by the employee is the FICA-only portion (not Medicare portion), and the employer can elect to also contribute to the plan. The amount the employer elects to contribute does not have to match the amount the employee contributes.
Set up annuity rates:
| Field | Description |
|---|---|
| Calendar Year | The current calendar year is displayed in the YYYY format. Verify that you are in the correct calendar year. If not, type the four-digit calendar year and click Retrieve to retrieve the applicable records for that year. |
❏ Update the following fields as needed:
- 457 Def Comp Employee Rate
- 457 Def Comp Employer Rate
- 403B FICA Annuity Employee Rate
- 403B FICA Annuity Employer Rate
❏ Click Save.
Other functions and features:
| Retrieve |
The Retrieve button is also used to retrieve information from the last save. If you click Retrieve, any unsaved changes are lost. |
|---|---|
| Delete |
Click to delete all tax tables for the calendar year except TRS rates. A warning message is displayed and prompts you to confirm that you want to delete all tax tables.
Click Yes to delete the tax tables for the calendar year.
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Click to print tax table data. The following Tax Table options are displayed:
Current Tab Page - prints only the tab page currently open.
FIT Exemption
All Code Tables - prints all the Tax/Deductions tab pages. |
payroll/tables/taxdeductions/annuityrates.txt · Last modified: 2022/04/19 16:12 by emoreno