CONTACT: Stanford University News Service (650) 723-2558
STANFORD -- Stanford University paychecks will be sporting a new look starting with those issued on Jan. 7.
The more detailed stubs reflect the changes brought about by the new "Educated Choices" system of flexible, or "cafeteria-style," benefits, said Claire Hamilton, communications specialist in the office of Total Compensation. In addition, all monthly benefits reductions now will be made in two equal payments per month, rather than once per month as before.
The new pay stubs feature three vital columns of information (see reproduction, this page.) The first shows an employee's salary and, in this case, imputed income from life insurance (the designation "/LIFE TXBL"). Some employees may receive checks with lines in this column designated "/FLX CASH," which is taxable cash - up to $25 per pay period - received by employees who opt to take less valuable benefits packages, or "/DP TXBL," which is the value of pre-tax contributions for medical, dental or accidental death and dismemberment coverage for domestic partners.
The earnings are followed by taxes deducted.
In the second column of the sample paycheck are voluntary reductions, deductions and refunds. This employee would have reductions for the following, from top to bottom: accidental death and dismemberment insurance for the employee; the same insurance for spouse and child(ren); Kaiser health insurance for self and family; life insurance; a health care spending account; retirement plan contribution (in this case, the "T/A RED" stands for the TIAA/CREF plan; an employee contributing to the Vanguard fund would see the line "VAN RED"); and life insurance for spouse and child(ren).
The third column contains year-to-date totals on salary and major tax categories. It also notes the difference between total gross and total federally taxable gross, when applicable.
Employees with questions about benefits should contact the office of Total Compensation at 723-3377; employees with payroll questions should contact that office at 723-9248.
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