How to decode your WPS payroll voucher
Under “Earnings” you should find any monies you have been paid:
Hours means what percentage you are working. Most of us will be 1.0 which equates to full time.
Extra Curr will reflect any pay you get for coaching, being a team leader or running a club or activity that you get paid for.
Salary: Current Multiply this number by 21 to get your annual salary before any extra pay for extra curricular or extra duties. (multiply by 24 if you are getting the bubble pay option with a larger pay check on the last pay period). Then check the current salary schedule to make sure it is correct: 2019-20 Salary schedule
Under the “Employee Deductions”
Medicare is tax you pay to Fed Government for Health Insurance that you can start collecting when you are 65. http://medicare.gov/
Fed Tax is the income tax you have deducted.
State Tax is the CT Income tax
8.25% TRB: Your contribution to Teacher’s retirement. This is not optional but if you leave teaching you can take this money and invest it elsewhere. Of the mandatory 8.25% contribution, 7% is posted into your membership account and 1.25% is posted to the Health Insurance Fund which helps reduce the cost of health insurance for retired members and spouses. http://www.ct.gov/trb/site/default.asp
If you stay in teaching until retirement, you will get a nice pension from the CT. The Town of Westport does not contribute anything towards our retirement.
FYI…The CEA periodically holds free retirement programs. It is good to go to one of these even if you are years away from retirement so you can learn all about how it works. Check the CEA website for locations, dates & registration.
Medical is our part of the health insurance plan. Make sure you check these numbers to make sure you are paying the correct amount and if there is a problem please contact Eileen Ahern who is the TSO insurance coordinator.
Dental: listed as a additional cost from medical insurance.
Full medical insurance rate info can be found here on the WEA website:
Axa Equitable / Fidelity (or something similar) whatever you are getting taken out to add to an optional 403b retirement plan.http://www.irs.gov/publications/p571/ch01.html
Life Insu is tax that we pay on the Life Insurance plan we get from the Town of Westport. We currently get 1 1/2 times our salary. If this amount is over 50,000.00, we have to pay tax on it.
GTL is the life insurance Group Term Life. The federal government requires us to pay taxes on any life insurance amount over 50,000.00.
Dues: WEA dues will be taken out of 10 consecutive pay periods starting around the middle of October.
2019-20 dues: NEA increased this year (2019-20) by $4.00 / CEA & WEA no increase
Full time: WEA $190 CEA $499.00 NEA $196 total: $885.00 10 payments of 88.50
50% or less: WEA $95 CEA $249.50 NEA $109.50 total: $454.00 10 payments of 45.40
25% or less: WEA $95 CEA $124.75 NEA $66.50 total: $286.25 10 payments of 28.63