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November 20 No. 15 With this pay, the company has decided to offer employees a Savings Incentive Match Plan for Employees (SIMPLE Retirement Plan). Most
November 20 No. 15 With this pay, the company has decided to offer employees a Savings Incentive Match Plan for Employees (SIMPLE Retirement Plan). Most of the employees opted to wait until the start of the following year to participate. However, the following employees have decided to take part in the plan for the remaining pay periods of the year. James Ferguson: Dewey Mann: Joseph O'Neill: Norman Ryan: $500 contribution per pay period $250 contribution per pay period $700 contribution per pay period $200 contribution per pay period The contributions are to be deducted from the participating employee's pay and are excluded from the employee's income for federal income tax purposes. The other payroll taxes still apply. On the payroll registers and the earnings record, use the blank column under "Deductions" for these contributions. Use the term "SIMPLE" as the new heading for this deduc- tion column (on both the payroll register and employee's earnings record). November 20 No. 15 With this pay, the company has decided to offer employees a Savings Incentive Match Plan for Employees (SIMPLE Retirement Plan). Most of the employees opted to wait until the start of the following year to participate. However, the following employees have decided to take part in the plan for the remaining pay periods of the year. James Ferguson: Dewey Mann: Joseph O'Neill: Norman Ryan: $500 contribution per pay period $250 contribution per pay period $700 contribution per pay period $200 contribution per pay period The contributions are to be deducted from the participating employee's pay and are excluded from the employee's income for federal income tax purposes. The other payroll taxes still apply. On the payroll registers and the earnings record, use the blank column under "Deductions" for these contributions. Use the term "SIMPLE" as the new heading for this deduc- tion column (on both the payroll register and employee's earnings record)
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