
Voluntary Tax
Sheltered Annuity Program
Classification
Updates
Group Health
Insurance Update
Clarification
of FICA Tax Exemption for Students**********
Voluntary Tax Sheltered Annuity Program
The Kansas Board of Regents currently has 56 approved companies
authorized to provide voluntary tax sheltered annuities, IRC 403(b), for
KSU employees. A
listing of these companies is on the Benefits
Administration page located at:
http://www.ksu.edu/hr/benefits/vtsa.htm
Most of these companies have their own web site and their links are
included.
Please share this information with employees in your department.
**********
Classification Updates
Effective 3/18/01, the classification titles Laborer, 3260M1,
salary
grade 7 and Bookkeeper, 1525K2, salary grade 15 have been abolished
statewide. These classifications had been utilized for Classified
Temporary positions at K-State and those departments affected have
been contacted.
**********
Group Health Insurance Update
The State of Kansas Health Care Commission has made some
revisions to
the administration of the state’s health care program. These are:
Questions should be addressed to Ms. R. J. Steelsmith at
(785) 532-6277.
********** **********
Clarification of FICA Tax
Exemption for
Students
There seems to be confusion regarding students who are exempt from
FICA versus students who do not have enough gross
earnings to withhold
federal income taxes. Full-time students are exempt from
FICA (otherwise
known as Social Security Taxes) when enrolled in enough hours and regularly
attending classes at that school and the work performed is incident to and
for the purpose of pursuing a course of study at the school. Students are
not exempt from Federal Income Tax Withholding unless qualified
based
on the instructions in filling out a W-4 form and subsequent completion and
submission to the Division of Human Resources. Often a student employee does
not earn enough wages on a single paycheck for any Federal Income Tax to be
deducted from that paycheck. That is not the same as being exempt from Federal
Income Tax Withholding. The W-2 issued in January will reflect in Box 1 the
Gross Wages for the year. The Social Security Wages reflected in Box 3 and
Medicare Wages reflected in Box 5 exclude the wages paid to a
student
who is FICA tax exempt. Questions may be directed to
your payroll liaison in
the Division of Human Resources at (785) 532-6277.
"People take different roads seeking fulfillment and happiness. Just
because they're not on your road doesn't mean they've gotten lost."
-
H. Jackson Brown, Jr.