Fairfax R-III

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P 4520 Salary Deductions

Withholding Taxes

A Federal withholding tax is retained for the Collector of Internal Revenue as payment on Federal Income Tax for the current year. The amount withheld is determined by salary and the number of dependents. No salary check will be issued until all withholding forms are submitted.

A State withholding tax is retained for the Missouri Department of Revenue. The amount withheld is determined in the same manner as the Federal Income Tax. Employees may authorize additional sums to be withheld by notifying the payroll department in writing and completing a new W-4 form indicating the additional amount to be withheld each pay period. No salary checks will be issued until all withholding forms are submitted.

Public School Retirement System (PSRS) of Missouri

All full-time teachers and part-time teachers who work seventeen (17) hours or more per week are members of PSRS. Support employees with a teaching certificate are also eligible for membership in PSRS.

Public Education Employees Retirement System (PEERS)

All support employees who work twenty (20) hours or more per week on a regular basis for thirty (30) calendar days are members of PEERS and are also covered by Social Security.

Medical

Medical insurance payments will be deducted for all employees on a twelve (12) month prorated basis each month.

Credit Union and Tax Sheltered Plan

Credit Union and Tax Sheltered Plans will be deducted under the terms of the respective contracts.

Tax Sheltered Annuities

The School District provides for payroll deduction and processing for employees participating in tax-sheltered annuities.

Additional Deductions

Any staff member may authorize additional voluntary deductions for payment of tax-sheltered annuities, dues to professional organizations, credit union, and dependent coverage for medical benefits.


Board Approved Date: March 19, 2015
Last Updated: November 2005