FAQ About Payroll

What is the OASDI deduction on my check?

OASDI (Old age, Survivors, and Disability Insurance) represents Social Security tax. The current rate is 6.2%. This is a mandatory federal tax withholding.

What is the HI deduction on my check?

HI (Hospital Insurance) represents Medicare tax. The current rate is 1.45%. This is also a mandatory federal tax withholding.

*REMINDER: Any deductions covered under the Commonwealth's Flexible Reimbursement Plan (i.e.: Premium Conversion, Dependent Care, Medical Reimbursement) are not subject to OASDI or HI tax. These deductions are also exempt from Federal and State withholding.

What does the term "Imputed Life" represent?

The Commonwealth provides life insurance coverage for eligible employees based on their annual salary. The coverage amount is the employee's annual salary rounded up to the next $1,000 and doubled. The Internal Revenue Service has determined that the value of coverage in excess of $50,000 must be included in the employee's income and is subject to federal, state, and social security taxes. Imputed Life represents a calculated amount based on the coverage amount over $50,000 and is added to an employee's taxable wages on the 16th paycheck.

How do I change my tax deductions?

Employees can fill out new Federal and State tax forms at the Payroll Office or you may download the forms as follows:

I'm an hourly wage employee and I have started working.  When I am in  MyLongwood --> employee tab web page, I do not see a time sheet available for me. What do I do?

The first thing an employee should do in this situation is to check with his/her department and/or immediate supervisor. Time sheets will not be available for wage employees on whom we have not received the completed new hire information.

Why didn't I get paid this time?

If the employee is a part-time hourly (or student) wage employee, and they have not submitted a time sheet within the proper submission period, they will not receive a check until the check day of the following pay period.
Employees should check with their departments first and make sure their timesheet has been approved and submitted to Payroll by the calendar deadline.  Advances will not be made if employees fail to submit their time sheet. If this is for special or one-time payments, check with your department to see if the proper paperwork was completed and turned into Payroll.

Can I get a copy of my W-2 if I lose my original?

Employees that wish to receive a duplicate W-2 should come by the Payroll Office or use Cardinal: ESS How to View and Print a Paycheck/W-2. For any questions, please call (434) 395-2261 or huddlestonft@longwood.edu

How do I stop a payroll deduction?

Please contact the Payroll Office and you will be instructed as to the proper form to be used
and/or the procedure to be followed. The process can vary for each deduction.

Can I deposit part of my check into another bank account?

For questions about this, please call the Payroll Office (434) 395-2261 or email huddlestonft@longwood.edu

Payroll Deduction Guide

ADM FEES - Flexible reimbursement accounts administrative charge
BUYBACK - Employee repurchase of retirement credits – post tax
CVC - Combined Virginia Campaign
DCSE-SUP - Child support payment deduction made electronically to the Department of
Social Services
DDCHKING - Direct deposit to checking account
DDSAVING - Direct deposit to savings account
DEF COMP - Deferred compensation deduction
DEP CARE - Flexible reimbursement account for dependent care
EMPASOC - Employee association dues deduction
EMP HLTH - After tax deduction for employee-paid state health insurance
FED TAX - Federal tax withholding
GARN FEE - Fee for administering court-ordered deductions
GARNISH - Wage garnishment
HI - Medicare tax withholding (hospital insurance)
MED REIM - Flexible reimbursement account for medical expenses
OASDI - Social Security tax withholding (Old Age Survivor Disability Insurance)
OPT Life - Optional group life insurance deduction
Frequently Asked Questions
Parking - Post tax parking
PETTYCSH - Employee miscellaneous deduction to agency
POOL VEH - State motor pool expense
PREBUYBK - Before tax employee repurchase retirement credits
PRETXPRK - Pre tax parking
PREM CON - Premium Conversion (before tax) deduction for employee-paid state health insurance
PRE TAX - Before tax contribution to annuity account
POST TAX - After tax contribution to supplemental insurance plans
SUPPORT2 - Domestic support payment deduction by third party check
TPA ADM - Third party administrator’s fee for administering deductions
USBONDS - Payments for purchase of U.S. Savings Bonds
VACU DD - Virginia Credit Union direct deposit
VA TAX - State tax withholding
VPEP - Virginia Prepaid Education Program
VSEA - Virginia State Employee Association dues deduction


 

FAQ About Direct Deposit

What is Direct Deposit?

Direct Deposit is the electronic transferring of monies into an employee's designated checking or savings account at a financial institution.

Why use Direct Deposit?

  • Direct Deposit is SAFE & RELIABLE. Having your paycheck directly deposited into your checking or savings account eliminates the possibility that your paycheck could be lost, stolen or damaged. It is also the most CONFIDENTIAL way to get your money into your account. With direct deposit you will receive a pay stub showing your gross and net pay, details of your deductions, and the date of deposit to your bank account. 
  • Direct Deposit is CONVENIENT. Going on vacation? Too many errands to run-not enough hours in the day? Inclement weather keeping you inside? With direct deposit, your paycheck will be in your bank ON PAYDAY! No special trip to the bank and your money is there even when you're out of town!

Who Can Have Direct Deposit?

Direct Deposit is available to all full-time faculty and staff and part-time wage employees.

What are my options?

Employees have some options as to the allocation of their pay. These options are:

  • Deposit net pay into a checking account
  • Deposit net pay into a savings account
  • Deposit a fixed amount into a checking account and deposit the remaining net into a savings account
  • Deposit a fixed amount into a savings account and deposit the remaining net into a checking account

If you need more information regarding Direct Deposit, please call us at (434) 395-4880. We're always available to help!