Sentences with phrase «payroll contribution plans»

Many employers offer payroll contribution plans to simplify saving for higher education.

Not exact matches

The plan receives its funds equally from payroll contributions from the people who work in Canada — outside of Quebec which has a separate plan — and matching contributions from their employers.

Canada Pension Plan contributions were collected through payroll deductions, or at the time of tax return submissions in the case of the self - employed.

Employer contributions to health insurance plans are exempt from both income and payroll taxes.

Contributions to and earnings in DB plans are exempt from both income and payroll taxes, and withdrawals are fully subject to federal income tax.

The employee makes contributions to the plan via payroll deduction.

Cuomo's plan creates tax credits for charitable contributions to public education or health care programs and allows employers to replace the income tax currently paid by employees with a payroll tax paid by the company.

New York's plan, proposed by Democratic Gov. Andrew Cuomo in his 2018 budget and awaiting action in the Legislature, would have a state board oversee investments made through payroll deduction with no employer contribution.

Last week the New York State Teachers» Retirement System (NYSTRS), which provides a defined benefit pension plan to public school teachers and administrators outside of New York City, announced it was raising the required employer contribution rate * from 16.25 to 17.53 percent of payroll.

Fulltime employees can often contribute to 401 (k) plans using payroll deduction, and the money they sock away typically earns a matching employer contribution.

Group RRSPs function a lot like regular RRSPs except that your employer runs the plan and you make contributions by payroll deduction.

The Conservatives warn the Ontario plan will amount to a job - killing payroll tax because it will require contributions from employers and workers in any company that does not have a workplace pension.

With this health plan, you get greater control over your healthcare spending, low payroll deductions, in - and out - of - network coverage, and tax - free savings from a Health Savings Account (as well as a contribution from NVIDIA).

We define ECI to be adjusted gross income (AGI) plus: above - the - line adjustments (e.g., IRA deductions, student loan interest, self - employed health insurance deduction, etc.), employer paid health insurance and other nontaxable fringe benefits, employee and employer contributions to tax deferred retirement savings plans, tax - exempt interest, nontaxable Social Security benefits, nontaxable pension and retirement income, accruals within defined benefit pension plans, inside buildup within defined contribution retirement accounts, cash and cash - like (e.g., SNAP) transfer income, employer's share of payroll taxes, and imputed corporate income tax liability.

401 (k) contributions can only be made through payroll deductions whereas RRSP contributions can be made through payroll deductions (commonly through employer - sponsored group RRSP plans) as well as cash (after tax) contributions which then generate a tax rebate.

If there is not a payroll deduction for a 529 plan, do a contribution to your employer's credit union and then use this credit union to enforce discipline to set aside money for a 529 plan.

(laughs) And number 1, remember that payroll contributions to a retirement plan can lower your taxes, and that's a big one because a lot of people say, «well I can't put more money into the 401 (k) because I can't afford it.»

Roth 401k contributions are treated the same as pre-tax 401k elective deferrals for all plan purposes, except that they are included in an employee's wages for tax purposes at the time of contribution (i.e., Roth 401k contributions are after - tax contributions, where pre-tax 401k contributions are deducted from income before payroll tax).

In addition, many plans will allow you to make repayments through payroll deduction, in the same way you make normal contributions.

Of the characteristics of section 529 plans, the most popular ones are: the ability to invest through payroll deductions at work (71 %), state tax deductions for contributions (70 %), the ability to develop a custom portfolio of mutual funds (70 %), age - based adaptive allocation portfolios (69 %), and a choice among more than 10 investment options (61 %).

If you use a payroll deduction plan through your employer, your contribution is also free of Social Security and Medicare taxes.

Payroll administrators can log in to view active plan details and participant information, maintain and update employee contribution amounts and plan allocation percentages and process payroll contributions for the fund on behalf of their employees.

However, despite a bankruptcy, directors may still be liable for unpaid wages, unremitted payroll deductions, employment insurance, Canada Pension Plan premiums and contributions, and for dividends paid or other transactions that do not meet a financial test if the company is insolvent, among others.

That is, if employees are required by law to contribute to the provincial plan (as well as the CPP), why would anybody want to reduce their pay even further my adding another payroll contribution to a voluntary plan?

[My company] will not be eligible to participate in any vacation, group medical or life insurance, disability, profit sharing or retirement benefits or any other fringe benefits or benefit plans offered by the Client to its employees, and the Client will not be responsible for withholding or paying any income, payroll, Social Security or other federal, state or local taxes, making any insurance contributions, including unemployment or disability, or obtaining worker's compensation insurance on [My company's] behalf.