[Faculty Handbook Category #3]
The college makes the following payroll deductions:
- Federal and State of Minnesota Withholding Tax: The amount deducted is determined by government tables in accordance with the amount of earnings and the number of exemptions claimed by the employee.
- Social Security and Medicare: Under present law the employee and the employer contribute equally toward this fund.
An eligible employee may elect payroll deductions/reductions for the following optional benefits:
- Health Insurance (premiums before social security, Medicare, federal, and state tax deductions)
- Medical Reimbursement Account (before social security, Medicare, federal, and state tax deductions)
- Dependent Care Reimbursement Account (before social security, Medicare, federal, and state tax deductions)
- Supplemental life insurance
- Dependent life insurance
- 24-hour Accidental Death and Dismemberment (AD&D)
- Group Supplemental Retirement Annuity – GSRA (before federal and state tax)
- Retirement Annuity – RA (before federal and state tax)
Further details regarding these options can be found in the Benefits section of this Handbook.