Paycheck News

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Be aware of several upcoming changes in the taxes withheld from your paychecks:

We pay 0.2% for Family Leave Disability; this is going up to 0.8%.  In addition, right now the FICA rate is the same (4.2%).  But by the end of March 2012, without legislation, it will go up to 6.2%.  That means a possible 2% salary decrease.
For those at the top of the guide, take note:  the Social Security base is up to $110,100.  This means some of you at the top of the guide won't get the December "break" from FICA you may be used to receiving (the base used to be $106,800).  This is definite.

In addition, plan ahead for April...Because of the spring break, we will get paid on April 5 (after being paid the week before on March 30) and then we won't get a paycheck until April 30th!  That is 25 days between paydays, so be sure to plan appropriately.

 

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