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Important Dates
FROM THE PAYROLL OFFICE: POINTS TO REMEMBER
Early
Resignation Bonus:
Professional employees who plan to resign or retire at the end of the school year may
qualify for the $2,000 early resignation bonus if they have submitted their letter of
resignation to the Superintendent on or before December 15, 2007. If you are planning
to retire at the end of the school year and have not received a retirement package,
please call Teacher Retirement at 1-800-223-8778 and request one as soon as
possible. |
403B
Tax Deferred Annuities:
The deadlines to initiate or make changes to a tax-deferred annuity are
February 5th (first deduction begins with March check) and September 5th
(first deduction begins with October check). Cancellations can be made at
any time during the school year as long as they are received by the
payroll office 8 workdays prior to payday. |
Section 125 Cafeteria
Plan:
Anniversary date is September 1st. This is the date when you may change the
tax-sheltered status of premiums for health, life, and cancer insurances. |
W-4 (form for withholding):
Changes in withholding must be submitted no later than 8 workdays prior to payday. You may
call the payroll office, ext. 781, to request a form. |
Reasons to file an amended W-4:
Number of allowances increases or decreases. If the number of allowances decreases, you are
required to file a new W-4 within 10 days of the change. Several life style changes
cause changes in the number of allowances an employee can claim: |
| Birth or adoption |
Increase |
| New marriage |
May Increase or decrease |
| Divorce |
May increase or decrease |
| Support is taken over by another party |
Decrease |
| Non-working spouse begins working |
Decrease |
| Death of spouse |
No change until the next year |
| Changes cannot be made
in advance or anticipation of a change. |
Social Security
card changes:
If you have changed your name on your social security card
for any reason, it is vital that you send a copy to the payroll office so that we
may change your payroll record accordingly. The Social Security Administration is
requiring that names of employees submitted to the Internal Revenue Service on W-2’s
appear the same as the names on the employees’ social security cards.
If you need to make a change or
correction, the nearest office is 2015 E. 37th St., Odessa. You may call them at
561-5061.
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