Payroll Deductions/Reductions

[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.