Payroll Update: How to Read Your Paycheck

Payroll Update: How to Read Your Paycheck
Compared to Your 2012 W-2
Posted: January 16, 2013
This document has been created in order to assist employees in understanding how their final
Electronic Pay Stub (E-Pay Stub) compares to your 2012 W-2. Employee’s E-Pay Stub and Electronic
W-2 are available through Employee Self Service (ESS).
W-2 Boxes 3 and 5 are
calculated the same
way as Box 1 except do
not subtract anything
for Deferred Comp
*Exempt Wages – HSA
Employer contribution
and Non-taxable
reimbursements
**Deferred Comp – 403b
and 457b contributions
W-2 Box 12 “E” – YTD
403b
W-2 Box 12 “C” – YTD
Group Term Life
HSA is new for 2012
W-2 Box 12 “W” – YTD
HSA Employee and
Employer contributions
combined
Form 8889 required to file
***Sec 125 – all pre-tax
deductions less
Deferred Comp
W-2 Boxes 2, 4, 6, 17,
and 19 – Taxes
Withheld
YTD Gross includes all
earnings – taxable and
non-taxable
W-2 Box 1 – FIT Taxable
Wages
YTD FIT taxable wages (W-2 Box 1 amount) is calculated by looking at “YTD Gross” less “Exempt
Wages*” less “Deferred Comp**” less “Sec 125***” amounts on the paycheck.
S:\Payroll\Documentation Master\Payroll Intranet\Local Docs\How To Read Your Paycheck Compared to Your W-2 1-16-13.doc