NEW for 2016
All benefited employees will receive new Affordable Care Act tax form(s) in the mail. The form(s) contains information regarding Employer-Provided Health Insurance Offer and Coverage that you may need to report as part of your 2015 tax return. Additional information from HR Benefits will be provided in January 2016.
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 firstname.lastname@example.org no later than January 4, 2016 to be reflected on your 2015 W-2.
Update your Tax Withholding Forms
- New 2016 tax forms should be completed if your filing status or exemption allowances have changed.
- If you are currently claiming exempt, to not have any withholding for Federal or State taxes, you are required to complete a new 2016 W-4 no later than February 1, 2016.
- 2016 tax forms will be available in January on the payroll web page at http://cms.grcc.edu/payrollandbenefits/forms.
Print a copy of your December 31, 2015 pay stub with year to date information
- If you would like a copy of your last 2015 pay stub with year to date information, please be sure to print it no later than Thursday, January 7, 2016. Year to date information will only be available on your last pay stub of 2015, until we process the first check of 2016.
For Informational Purposes Only
- The 2016 Social Security tax rate is schedule to remain 6.2%, and the Medicare tax rate remains 1.45%.
- The 2016 social security wage base will remain $118,500.00.
- The 2016 limitation for elective deferrals under a 403(b) or 457(b) will remain at $18,000 and the additional catch up provision for individuals age 50 and over will remain $6,000.00.