My Paycheck

Medicare

A federal program of health insurance for persons 65 years of age and older.

Employee Benefits

A group health plan that saves you money on health insurance is an example of a/an _____.

False

A paycheck stub documents just your gross pay.

$801

Diana's gross pay was $890 and her total deductions were $89. What is her net pay?

FICA

Federal Insurance Contributions Act, more commonly known as Social Security; a portion of wages is withheld and sent to the government trust fund and set aside for retirement benefits.

Deductions may include uniform costs, tax, insurance, and social security.

In one to two sentences, list some deductions you may see on your paycheck stub.

Save it for your records.

What should you do with your paycheck stub?

Employee Benefits

When weighing your employment options, consider _____.

deduction

an amount that is subtracted.

Gross Pay

earnings before deductions for work or from other sources, such as rent or investment.

Employee Benefits

perks (extra benefits) that a company provides their employees; may include paying for health insurance or providing a retirement plan.

Net Pay

take-home pay; the portion of the wages that the employee actually gets to take home.