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 5, 2015 to be reflected on your 2014 W-2.

Update your Tax Withholding Forms

•  A new 2015 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 2015 W-4 no later than February 1, 2015.
• Tax forms are available on the payroll web page at http://cms.grcc.edu/payrollandbenefits/forms.

Print a copy of your last 2014 pay stub with year to date information

• If you would like a copy of your last 2014 pay stub with year to date information, please be sure to print it no later than Friday, December 19, 2014. Year to date information will only be available on your last pay stub of 2014, until we process the first check of 2015.

For Informational Purposes Only

•  The 2015 Social Security tax rate is schedule to remain 6.2%, and the Medicare tax rate remains 1.45%.
• The 2015 social security wage base will be $118, 500.00.
• The 2015 limitation for elective deferrals under a 403(b) or 457(b) will increase to $18,000 +and the additional catch up provision for individuals age 50 and over will increase to $6,000.00.