Gannon University
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benefit taxability
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FICA TAX
(OASDI & MEDHI)
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------ INCOME TAX ------
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FEDERAL
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PA
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ERIE
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Premium Value of Group Life Insurance over $50,000 plus Spousal Insurance*
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YES
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YES
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NO
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NO
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403(b) Retirement Contributions
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YES
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NO
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YES
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YES
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Health & Dental Premiums
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NO
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NO
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NO
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NO
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Exempt AFLAC Premiums
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NO
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NO
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NO
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NO
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Medical Flexible Spending Account
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NO
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NO
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NO
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NO
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Dependent Care Flex.Spending Account
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NO
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NO
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YES
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YES
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Parking Program
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NO
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NO
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YES
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YES
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Exempt Relocation Reimbursements
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NO
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NO
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YES
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YES
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Yes = Taxable
No = Not Taxed
* NOTE: Your life insurance is twice the amount of your annualized pay with a minimum of $30,000. Liable coverage is determined by reducing the amount of insurance by $50,000 (under $50,000 is not taxed) and, if applicable, including $10,000 for spouse. The tax rate is based on the federal wage table and applied each pay.
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