Important Year End Payroll Information

Verify Personal Information

Update your Tax Withholding Forms

  •  New tax forms should be completed if your filing status or exemption allowances have changed.
  • If you are currently claiming exemption on your Federal or State taxes, you are required to complete a new W-4 no later than February 1, 2014.
  • Tax forms are available on the payroll web page at http://cms.grcc.edu/payrollandbenefits/forms.

Print a copy of your last 2013 pay stub with year to date information

  •  If you would like a copy of your last 2013 pay stub with year to date information, please be sure to print your December 20, 2013 pay stub no later Monday, December 23rd. Year to date information will only be available on your last pay stub of 2013, until we process the first check of 2014.

For Informational Purposes Only

  •  The 2014 Social Security tax rate is schedule to remain 6.2%, and the Medicare tax rate remains 1.45%
  • The 2014 social security wage base will be $117, 000.00
  • The 2014 limitation for elective deferrals under a 403(b) or 457(b) will remain $17,500, and the additional catch up provision for individuals age 50 and over will remain $5,500.00

 

 

 

 

 

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