Important Year End Payroll Information

Verify Personal Information

• Verify your personal information through GRCC self-service by following the instructions found at http://cms.grcc.edu/payrollandbenefits/forms/yearend. Any personal information changes should be emailed to Human Resources at hr@grcc.edu no later than January 3, 2014 to be reflected on your 2013 W-2.

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 23^rd. 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