The following is a list of deductions that either must or may be taken through the payroll process.
Taxes
- The College, as an employer, is required to match employee contributions and to forward the combined amount to the appropriate governmental agency in the employee's name.
- Federal Income Tax is deducted on a regular basis. The amount withheld and forwarded to the Internal Revenue Service is based on the number of exemptions a staff member claimed on the withholding exemption certificate filed at the time of employment or as changed by the employee during employment. The rate of withholding is determined from tables published by the Internal Revenue Service and is based on the gross amount of payment due to an employee on a specific pay date.
- State Withholding Tax is deducted in accordance with the taxing rate established by the state in which the employee works. A separate withholding exemption certificate must be placed on file through the Human Resources office.
- City of Wilmington Income Tax is automatically deducted from payroll checks received by employees assigned to the main campus. Blue Ash and Cincinnati local tax is deducted from employees assigned to those offices respectively. No additional local city tax deductions are taken.
- School District Tax is deducted from payroll checks of employees who reside in school districts that have passed School District Income Tax (SDIT).
- Tax on College Provided Life Insurance - Employer paid life insurance over $50,000 is considered by the IRS as a taxable benefit. The IRS provides a table based on age, to dictate the cost per $1,000 of coverage per month, regardless of the actual premium amount the College pays for the insurance benefit. The College is required to report this cost as income to the employee and withhold the appropriate taxes.
Other Deductions
- Salary Advances
- Health care, dental and vision insurance (if enrolled)
- Retirement – TIAA Group Retirement Plan
- College Annual Support - Employees have an opportunity through payroll deduction to contribute to the various fundraising drives sponsored by the College for its continued development.
- Long- and Short-Term Disability Insurance
- Flexible Spending Accounts - Dependent care and medical.
- Health Savings Account
- Supplemental Life Insurance (Self, Dependents)
- Accident and critical plans
- Garnishments (Tax Liens, Child Support) as required by law