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«GROSS-TO-NET CALCULATOR Revised March 2016 Human Resource Information System Gross-to-Net Calculator Table of Contents Introduction, Accessing the ...»

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HUMAN RESOURCE

INFORMATION SYSTEM

GROSS-TO-NET

CALCULATOR

Revised March 2016

Human Resource Information System

Gross-to-Net Calculator

Table of Contents

Introduction, Accessing the Payroll Calculator, and Exiting the Screen

Changing Withholding Status on a Form W-4

Pay Changes and/or Overtime Hours Paid

Taxable Benefit – Domestic Partner

Taxable Benefit – Full-Time Student Over Age 26

Deferred Compensation- Pre-Tax

Deferred Compensation- Post-Tax (Roth)

Flexible Spending Accounts (FSA)

Fields Information

Key Information

Earnings Information

Controls Information

Deduction Information

Warnings and Messages

Quick Reference

Human Resource Information System Gross-to-Net Calculator Introduction, Accessing the Payroll Calculator, and Exiting the Screen Gross-to-Net is a payroll calculator modeled after the actual payroll calculation program used for state employees’ pay warrants. This calculator can be used to project changes in deduction amounts and net pay when there are changes in pay amounts, hours worked, mandatory and voluntary deductions, including allpre-tax deductions such as retirement, insurances, deferred compensation or flexible spending plans. Federal and state tax withholding, retirement rates, OASDI and Medicare (FICA), and insurance deductions are calculated using current rates on HRIS Production.

The Gross-to-Net Calculator is accessed through the employee’s timesheet. For instructions on accessing the timesheet, please refer to the HRIS Time Reporting System Manual. When viewing the timesheet, enter “GN” in the header action field to go to the calculator.

D3325369 ACTION: _ GROSS-TO-NET CALCULATOR PRINTER:

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It is important to note that while a supervisor or other approver can access the employee’s timesheet, they cannot view the employee’s earnings and deduction information on the Gross-to-Net Calculator.

Employees authorized as Personnel/Payroll Assistants and who have access to the HRIS Employee Information (EI) module are able to access the Gross-to-Net Calculator for all employees to whom they have access through HRIS security. Therefore, they can access the Gross-to-Net Calculator from the employee’s time sheet or their EI record. Place a “GN” in the header action field on either of these screens to access the Gross-to-Net Calculator for that employee.

The Gross-to-Net Calculator screen will display all the current information in the employee’s record with

the exception of the following deduction types:

 maintenance pay  garnishments  wage assignments  travel advance  miscellaneous deductions  employee org insurances  miscellaneous insurances Human Resource Information System Gross-to-Net Calculator Due to space limitations, you would enter the total of these deductions in the OTHER DEDUCT field in the bottom right hand corner of the screen for an accurate net pay calculation. The dollar amounts for taxable benefits and imputed income do not show up on the Gross-to-Net screen either. See the detailed instructions in this manual on how to enter those deductions to estimate the effect on net income.

Entries on the Gross-to-Net Calculator do not change the employee’s record. The changes made on the calculator screen will be reset when you exit that screen or when you restore the calculator to its original setting by entering an “R” in the header action field and pressing “Enter.” The information contained in this document is also available via on-line HELP screens on the calculator itself. If additional assistance is needed, please contact your Human Resource Assistant or the Centralized Payroll Section of the Iowa Department of Administrative Services.

When you first access the Gross-To-Net Calculator, all fields will be initialized with the employee’s current information. This same initialization occurs when you enter "R" in the header action field and press “Enter.” Once you have viewed the current pay data, you can modify most fields on the screen and calculate the new amounts based on those changes. On most screens, those fields that can be changed will be displayed in a different color. For example, you can change the number of hours per pay period, including overtime hours, the rate of pay, changes to deferred compensation and other deductions, and changing to and from a “pretax” designation.

Once you have completed the “what if” calculations, you may exit the screen by hitting the F12 key on your keyboard. Making changes on this screen will not result in actual changes being made to your pay or deduction records. Please work with your HRA to make any necessary changes.

A description of the fields on the Gross-to-Net Calculator and instructions on how the fields are used can be found starting on page 13 of this manual.

TO EXIT THE GROSS-TO-NET CALCULATOR

Returns you to the previous screen (the employee’s timesheet, or the EI record, if you PF12 have access because you are a HRA). The Gross-to-Net Calculator will be reset to the employee’s current information when you exit that screen.





CLEAR Ends the current session and takes you to the Available Applications Menu.

The following pages show examples and screen prints of some of the changes you can make on the calculator to determine how those changes would impact your tax withholdings and net pay.

–  –  –

An employee completes a Form W-4 to change his or her Federal or State withholding allowances.

These forms must be signed and turned into their HRA for the change to be completed, but the impact of those changes can be seen on the calculator.

To see the impact of a change in the Marital Status, change the field of FILING STATUS. To change the number of withholding allowances for Federal withholding, make the new entry in the field to the right of the FEDERAL WH field name. If additional withholding is needed, put the dollar amount in the field to the right of that field. Similar entries are made to the STATE WH fields for changes in the State tax withholding options. In the example shown below, these fields are highlighted.

If an employee opts for the supplemental tax withholding rate to be applied to a payment, which is allowed in the case of lump sum payments such as vacation payout upon termination, the code of “099” is entered in the fields to the right of FEDERAL WH & STATE WH. The current supplemental tax withholding rates are 25% for Federal withholding and 6% for State of Iowa.

–  –  –

Pay Changes and/or Overtime Hours Paid If you wish to see what impact an increase in pay will make on your deductions and net pay, you only need to change the HOURLY RATE. In the example shown below, a 4.5% increase was applied to the hourly rate shown on the previous page ($22.89 x 1.045% = $23.92). Enter the new hourly rate, hit “Enter” and the following calculation is shown.

D3325369 ACTION: _ GROSS-TO-NET CALCULATOR PRINTER:

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If the employee also had 8 hours of Overtime, enter those hours in the OVERTIME HOURS field, hit “Enter” to see the results of those overtime earnings and the tax deductions and net pay.

D3325369 ACTION: _ GROSS-TO-NET CALCULATOR PRINTER:

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Below is an example of the entries on the Gross-to-Net Calculator to estimate the impact of a taxable benefit for a domestic partner. In this example, we will use show an employee who has family coverage for both health and dental using calendar year 2015 rates. The domestic partner is taxable at both the Federal and State levels since it is not a recognized relationship for tax purposes. The rates for Health and Dental Insurance automatically populate on the Gross-to-Net Calculator based on the code entered. These rates are for the current calendar year based on HRIS Production. The rates are not updated for the upcoming calendar year until all warrants have been written in which the deductions are taken for the current year. The Gross-to-Net Calculator provides a good estimate when making decisions during the Enrollment and Change Period; however, the dollars will vary slightly depending on the rate change.

–  –  –

You will see that $492.59 has been added to both the Federal Taxable and State Taxable fields. This represents $460.87 taxable benefit for health coverage and $31.72 taxable benefit for dental coverage.

Those amounts are what the contract holder would have added to their gross income as the taxable benefit of having a domestic partner on their health and dental insurance plans (with Iowa Select as the health plan) for calendar year 2015. (Note: the amounts differ for each insurance plan, for the number of taxable dependents, and the calendar year of insurance coverage.) The amount is then run through the payroll calculator, the fields for FEDERAL WH, STATE WH, OASDI and MEDICARE (FICA) as those are the applicable payroll taxes.

This taxable benefit will be shown on the On-Line Payroll Warrant as pay in the Taxable Benefit field and subtracted back out in the Maintenance field. On the condensed pay stub, it will be shown added and subtracted under the Maintenance fields. You will see that the tax withholding amounts have increased. It is important to note that for the taxable insurance benefit only the first pay warrant of the month will be impacted as that is when the State Share of insurance is paid. The second and third pay warrants of the month will not have the taxable benefit processed on them. (Note: any applicable employee share of the premiums is deducted in both the first and second pay warrants.) Human Resource Information System Gross-to-Net Calculator Taxable Benefit – Full-Time Student Over Age 26 Below is an example of the entries on the Gross-to-Net Calculator to estimate the impact of a taxable benefit for a full-time student over the age of 26. In this example, we will show an employee who has family coverage for both health and dental using calendar year 2015 rates. The full-time student over age 26 is taxable at the Federal and State level. The rates for Health and Dental Insurance automatically populate on the Gross-to-Net Calculator based on the code entered. These rates are for the current calendar year based on HRIS Production. The rates are not updated for the upcoming calendar year until all warrants have been written in which the deductions are taken for the current year. The Gross-to-Net Calculator provides a good estimate when making decisions during the Enrollment and Change Period; however, the dollars will vary slightly depending on the rate change.

–  –  –

You will see that $492.59 has been added to the Federal and State Taxable field. This represents $460.87 taxable benefit for health coverage and $31.72 taxable benefit for dental coverage. Those amounts are what the contract holder would have added to their gross income as the taxable benefit of having one taxable dependent on their health and dental insurance plans (with Iowa Select as the health plan) for calendar year 2015. (Note: the amounts differ for each insurance plan, for the number of taxable dependents, and the calendar year of insurance coverage.) The amount is then run through the payroll calculator, the fields for FEDERAL WH, OASDI and MEDICARE (FICA) as those are the applicable payroll taxes.

This taxable benefit will be shown on the On-Line Payroll Warrant as pay in the Taxable Benefit field and subtracted back out in the Maintenance field. On the condensed pay stub, it will be shown added and subtracted under the Maintenance fields. You will see that the tax withholding amounts have increased. It is important to note that for the taxable insurance benefit only the first pay warrant of the month will be impacted as that is when the State Share of insurance is paid. The second and third pay warrants of the month will not have the taxable benefit processed on them. (Note: any applicable employee share of the premiums is deducted in both the first and second pay warrants.)

–  –  –

Deferred Compensation- Pre-Tax Another benefit available to State of Iowa employees is the opportunity to enroll in the State’s deferred compensation pre-tax program. This deduction lowers your taxable income for purposes of Federal and State taxes. In the example shown below in Screen 1, an employee is not yet having anything deducted for deferred comp. In Screen 2, they started a deduction of $100.00 from their pay warrant.

The entry of “6” is the code used to indicate that $100.00 is deducted from all pay warrants (26 warrants). Notice the difference between the net pay is only $79.22, because this deduction is taken before state and federal taxes (FICA taxes are still applicable).

–  –  –

Deferred Compensation- Post-Tax (Roth) In addition to the pre-tax deferred compensation deduction, a post-tax deferred compensation deduction is allowed (Roth). This deduction is taken as an after-tax deduction and does not lower your taxable income for purposes of Federal and State taxes. In the example shown below in Screen 1, an employee is not yet having anything deducted for deferred comp Roth. In Screen 2, they started a deduction of $100.00 from their pay warrant. The entry of “6” is the code used to indicate that $100.00 is deducted from all pay warrants (26 warrants). Notice the difference between the net pay is the full $100 since this is an after tax deduction.

–  –  –

Flexible Spending Accounts (FSA) Another benefit available to employees is the opportunity to deduct pre-tax dollars for Health flexible spending, Dependent Care flexible spending, or both. On Screen 1, the employee does not have any deductions for an FSA. On Screen 2, the entries have been made for a $50.00 deduction for each of the FSA’s. These deductions occur in the first and second payroll warrants of the month; no deductions are made in the third payroll warrant of the month.

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