Financial Information
Please read the following documents pertaining to various issues that MTEA members may face, or situations about which they may have questions. If you have any additional questions or concerns, please speak to your building AR.
Dues for Tax Purposes
|
|
Employee union dues are no longer deductible in tax years 2018 through 2025 as a result of the Tax Cuts and Jobs Act. Prior to the Act, they were partially deductible as a miscellaneous deduction under the 2% rule.
To find your union dues for tax purposes, look in Box 14 on your W2 form!
OR
Look at the "year to date" dues amount on your December 30th paycheck!
OR
Look at the "year to date" dues amount on your December 30th paycheck!
Payroll
- Paycheck Stub Key/Codes - updated October 2015
A Message from the Payroll Clerk
From: Mariya Aksanova
Sent: Tuesday, September 15, 2020 11:36 AM
To: All Faculty and Staff
Subject: 15th paycheck
Dear Faculty and Staff,
Welcome back! I'd like to remind you of a few things regarding your September 15th paycheck:
All new employees please be advised that your first pay on September 15, 2020 will be a live check. After September 15th it will be direct deposit.
Pension Contributions
Effective July 2020, the employee pension contribution rate has not been changed, it remains at 7.5% for all PERS and TPAF members. The contribution rate for DCRP members also remains at 5.5%.
Health Benefit Contributions
Mandatory Chapter 78 health benefit premium contributions may increase or decrease depending upon individual circumstances. Contribution amounts are based on three factors:
1) Tier - All employees reached the 4th and final tier of the 4 year phase-in process of the premium contribution percentage last school year. Everyone will remain at the 4th tier and contributions will not change because of this factor.
2) Salary - Your base salary (including 1/6 and 1/8 stipends) determines the percentage of the premium you contribute. If your salary increased to put you in the next salary bracket your contribution percentage will increase, thus increasing your contribution amount.
3) Premium - Your contribution amount is a percentage of the benefit premium cost. The medical premium hasn't changed from June.
Additional Reminder: You should always keep at least your last 4 paystubs. You will need them to show proof of income if you are buying a house, renting an apartment, leasing a car, etc. Your Pension Membership ID number is printed on your paystub.
You can reference the Paycheck Stub Key if you have questions about deductions on your paycheck.
If you would like to change your direct deposit information, W4 form, change of Address Form please contact me or Theresa Ensminger @ theresa.ensminger@montville.net and we will send you the forms through Frontline Center.
As always, if you feel there is a discrepancy with your paycheck, please contact me immediately at Mariya.Aksanova@montville.net or extension 2233. I hope everyone has a great year! Thank you.
Mariya Aksanova
Payroll Clerk
Montville Board of Education
Ph: 973-331-7100 x-2233
Fax: 973-316-4643
