How to Use Your October 31 st 2016 Monthly Pay Stub to Calculate Your Pay
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- Domenic Malone
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1 1. How to Use Your October 31 st 2016 Monthly Pay Stub to Calculate Your Pay 2. How to Use Your Monthly Pay Stub to Calculate Your Partial Monthly Pay for November 30 th How to Calculate Your Biweekly Pay for December 2 nd & 16 th How to Calculate Your 3 rd Biweekly Pay on December 30 th 2016 How to Use Your October 31 st 2016 Monthly Pay Stub to Calculate Your Pay 1. Pull up your last monthly pay stub by logging into my.unm.edu. my.unm.edu > Staff Tab > MyPay Tile > Pay Stub. This Job Aid is only intended to provide you with guidance, it is NOT a guarantee of pay. Sample Monthly pay stub: 2. Pull up the pay calculator. Go to my.unm.edu > Staff Tab > MyPay Tile > Payroll Calculator > Log in using your NetID and password. Hover over the icon, for tips on using the calculator.
2 3. Plug in the fields using your pay stub from your Monthly September or October Paystub 4. Notice that your Estimated Pay Check in the calculator is close to your Net Amount on your Monthly Pay stub. (Read DISCLAIMER above)
3 How to Use Your Monthly Pay Stub to Calculate Your Partial Monthly Pay for November 30 th Pay Stub Pull up your last monthly pay stub for September or October as instructed above. On this partial check, you will be getting paid for November 1 st 11 th. Therefore, you will be getting paid for 9 working days out of 22 possible working days in November. (9/22=40.9%) Multiply your monthly salary by 40.9% to estimate your Partial Gross Monthly Pay for November. The monthly salary is located on the top right hand corner of your pay stub under Gross. $3,777 x 40.9% = $1,545 (partial month pay for 9 working days in November) 2. Pull up the Payroll Calculator Take your new calculated partial gross monthly salary. Plug in your new calculated partial gross monthly salary, from above. Click monthly for the pay period in the Payroll Calculator. (Please note that the Estimated Gross Annual Pay is NOT accurate for this step, identified by the red circle in screenshot below.)
4 3. Filing Status, Adjustments & Withholdings Click on the drop down for filing status and select your status to match your W4. You can find this information at my.unm.edu > Staff Tab > MyPay Tile > W4 Form Next enter your federal allowances. Enter in any additional federal or state withholdings if applicable. Please note: Consider this is the pay period to change any W4 extra federal and state withholdings in LoboWeb as this is a PARTIAL PAYCHECK. (the payroll Calculator WILL NOT change the actual W4 amounts) Additionally any changes you make to your W4 withholdings will also be in effect for all your upcoming biweekly paychecks. If you wish to change your extra withholding, you will need to do so between 11/1-11/18/ Pre-Tax Deductions & Post-Tax Deductions Enter in Pre-Tax Deductions such as 403b, 457b contributions and Medical, Dental and Vision deductions. The full monthly Medical, Dental and Vision deductions are taken on this partial November check. Please contact HR Benefits for questions (505) Enter any Post-Tax Deductions This gives you an estimate of what your partial monthly check will be on November 30, 2016.
5 How to Calculate Your Biweekly Pay for December 2 nd & 16 th Calculate your annual salary by using your gross pay X 12 months and then divide by 26. This is located on the top right hand corner of your pay stub under Gross. 2. Gross Pay - Pull up the pay calculator Plug in your calculated gross pay from step 1. Click biweekly for the pay period. Your estimated Gross Annual Pay will automatically calculate. 3. Filing Status, Adjustments & Withholdings Click on the drop down for filing status and select your status to match your W4. You can find this information my.unm.edu > staff tab > LoboWeb > Tax Forms > W4 Form Next enter your federal allowances. Enter in any additional federal or state withholdings. (Make sure to update your W4 for any extra withholdings in LoboWeb)
6 4. Pre-Tax Deductions & Post-Tax Deductions Enter in 403b, 457b contributions. (Make sure to update retirement manager for these) Medical, Dental and Vision deductions can be calculated by taking your current premium and dividing by two. Update any Post-Tax Deductions 5. This gives you an estimate of what your Biweekly check will be on December 2, 2016 & December 16, 2016.
7 1. Gross Pay for Biweekly How to Calculate Your 3 rd Bi-weekly Pay on December 30, 2016 Plug in your calculated gross pay. Click biweekly for the pay period. Your estimated Gross Annual Pay will automatically calculate. 2. Filing Status, Adjustments & Withholdings 3. Pre-Tax Deductions & Post-Tax Deductions. (NO elected deductions will be taken on 3 rd paycheck of the month) 4. This gives you an estimate of what your biweekly check will be on December 30, 2016.
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