Payroll Services would like to wish you all a very happy holiday season and a healthy, prosperous new year!
The university and our office will be closed for the winter break beginning Monday, Dec. 22, 2014 and will reopen Friday, Jan. 2, 2015.
Monthly Payday is Friday, Jan. 2
Due to the bank holiday on Thursday, Jan. 1, 2015, the regular monthly payday for the December pay period is Friday, Jan. 2, 2015.
2015 Tax Rates
The IRS has issued new federal tax rates for the 2015 tax year. In addition to the withholding tax changes, the Social Security wage base limit increased from $117,000 to $118,500. For individuals under the wage base limit, total Social Security and Medicare tax is 7.65% (6.2% plus 1.45%). Additional Medicare of 0.9% remains in effect for wages above $200,000.
Fringe Benefit Table
The 2014-15 Fringe Benefit table has been updated to reflect the 2015 Social Security wage base limit ($118,500).
Student Employee Compensation
Under Executive Order 13658, work performed on certain federal contracts solicited or awarded on or after January 1, 2015 require payment of a minimum wage rate of at least $10.10 per hour. This requirement does not apply to work performed on federal grants. Employers of students who are performing work on a federal contract in an FLSA non-exempt job may contact the Office of Sponsored Projects at email@example.com if more information is needed.
New! Toopher Security Enhancements
The University of Texas at Austin has implemented Toopher, a two-factor authentication tool as a way to provide added security for certain UT Direct online services. My W-2 and My Paycheck Distribution/Bank Info-Payroll now require the use of Toopher in order to protect employees’ sensitive payroll data. To log in to these pages, users must enter their UT EID and password, and then authenticate using Toopher. Users must have access to a mobile phone to use Toopher’s text messaging / SMS option, or a smartphone or tablet to use the Toopher App. Users may also use the Printed One-Time Passcodes option, which does not require a mobile phone or smartphone.
Information about setting up two-factor authentication is available on the ITS website and the ITS Help Desk can be contacted with questions related to this. Basic instructions for accessing the payroll webpages using Toopher are also available online.
For employees who cannot use Toopher, alternate processes will continue to be available:
Campus-wide notification regarding two-factor authentication from the Chief Information Security Officer can be found here.
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