Employer Paid Benefits

The University's contribution towards the cost of your benefits is displayed in the "Employer Paid Benefits" section of your pay statement. None of the Employer Paid Benefits are deducted from your pay.

However, those Employer Paid Benefits noted with an asterisk (*) on the pay statement are taxable and subject to Federal, State, Social Security, and Medicare tax withholding. For example, the value of employer-provided group-term life insurance (BASIC) in excess of $50,000 is considered a taxable benefit added to your taxable wages and reported on your Form W-2.

Description

Employer-paid portion of the cost of your benefit deduction. Employer-paid benefits include:

• Medical UM
• UPlan Dental
• Basic Employee Life
• Basic Employee Life*
• Additional Employee Life*
• Child Life Insurance*
• Faculty Income Disability
• Faculty Retirement Plan
• Minnesota State Retirement System (MSRS)

Amount

The amount paid by the University for the current pay period.

YTD Amount

The total year-to-date amount shows on the most current pay statement only.

*Taxable

Value of employer paid benefits noted with an asterisk (*) on the Pay Statement are taxable and subject to Federal, State, Social Security, and Medicare tax withholding. These amounts are added to your Taxable Gross (see Understanding Taxable Gross) for withholding purposes.

Total

Total amount paid by the University for all employer-paid benefits for the pay period, and YTD if applicable.