Payroll Office

W-2 Standard Explanation

Please verify upon receipt that your name, social security number and address are correct.

For your information, pay period ending 11/30/12 dated 12/1/12 was the last pay period of the calendar year 2012 for salary payroll.  For biweekly payroll, the last pay period of the calendar year 2012 was dated 12/18/12.

To assist you in understanding yourW-2 form, the following information is provided:

Box 1 – Wages, tips, other compensation. Included in this box are the following items:

Gross compensation received in the tax period from January 1 – December 31 plus group-term life insurance (See C in Box 12 for amount) minus the following:

  1. Family insurance premiums for employees participating in the University’s Cafeteria Plan, under Section 125 of the Internal Revenue Code of 1954 (See Box 14 Other – “Exempt Ins” for amount).
  2. Employee contributions to a section 403(b) salary reduction agreement (TIAA/CREF).
    See E in Box 12 for amount.
  3. Employee contributions to a section 457(b) salary reduction agreement (RSA-1).
    See G in Box 12 for amount.
  4. Employee contributions to the Teacher Retirement System (See Box 14 – Other – “Tea Ret” for amount).

Box 2 – Federal income tax withheld. Federal tax withheld from compensation received in the tax year. This amount will appear on your paycheck stub as “Fed W/H”.

Box 3 – Social security wages. Included in this box are the following items:

Gross compensation received in the tax period from January 1 – December 31 plus group-term life insurance (See C in Box 12 for amount) minus family insurance premiums for employees participating in the University’s Cafeteria Plan, under Section 125 of the Internal Revenue Code of 1954 (See Box 14 Other – “Exempt Ins” for amount).

Box 4 – Social security tax withheld. Social security tax withheld from compensation received in the tax year. This amount will appear on your paycheck stub as “FICA”.

Box 5 – Medicare wages and tips. Included in this box are the following items:

Gross compensation received in the tax period from January 1 – December 31 plus group-term life insurance (See C in Box 12 for amount) minus family insurance premiums for employees participating in the University’s Cafeteria Plan, under Section 125 of the Internal Revenue Code of 1954 (See Box 14 Other – “Exempt Ins” for amount).

Box 6 – Medicare tax withheld. Medicare tax withheld from compensation received in the tax year. This amount will appear on your paycheck stub as “MHI”.

Box 12 – Includes the following codes:

  • C – Cost of group-term life insurance over 50,000 (included in boxes 1, 3 (up to social security wage base), and 5.
  • E – Elective deferrals under a section 403(b) salary reduction agreement.
  • G – Elective deferrals under a section 457(b) salary reduction agreement.
  • DD – Cost of employer-sponsored health coverage. The amount reported with Code DD is not taxable. This amount is for INFORMATIONAL purposes only.

Box 14 – Other.

Exempt Ins – Family insurance premiums paid by employees participating in the University’ Cafeteria Plan, under Section 125 of the Internal Revenue Code of 1954.

Tea Ret – Employee deductions to the Teacher Retirement System.

Box 16 – State wages, tips, etc. – Included in this box are the following items:

Gross compensation received in the tax period from January 1 – December 31 plus group-term life insurance (See C in Box 12 for amount) minus the following:

  • 5) Family insurance premiums for employees participating in the University’s Cafeteria Plan, under Section 125 of the Internal Revenue Code of 1954 (See Box 14 Other – “Exempt Ins” for amount).
  • 6) Employee contributions to a section 403(b) salary reduction agreement (TIAA/CREF).
    See E in Box 12 for amount.
  • 7) Employee contributions to a section 457(b) salary reduction agreement (RSA-1).
    See G in Box 12 for amount.

Box 17 – State income tax. State tax withheld from compensation received in the tax year. This amount will appear on your paycheck stub as “AL W/H”.