The Paycheck section of the Batch Paycheck Report shows how various levels of contributions effect a client's paycheck. It includes employer match, effect on taxation, and change in pay.

 

The Paycheck section of the report (shown above) is configured in the Report Layout Editor's Paycheck tab shown below:

 

Paycheck Tab Options

Each of the prompts on the Paycheck tab is discussed in the following:

Show current contribution column

This determines if the client's current contribution should be illustrated in the report.

Show theoretical maximum contribution ("Quick Max") column

Determines if the quick maximum (i.e. for 2010 the value is $16,500, plus an additional $5,500 for those who are age 50 by the end of the year) should be illustrated in the report. No catch-up provisions for 403(b) or 457 are taken into account.

Hide contributions above "Quick Max"

Hides columns with contributions above the Quick Max column.

Hide Paycheck fields with values of zero...

Checking this box will hide a field if the field's value is zero, even if it is checked as visible in the employer file editor.

Withholding Tax Options

The Withholding Tax Options configures how the report displays taxation withholdings.

Paycheck withholding taxes

Three options are available for Paycheck Withholding Taxes:

1.Show details: Shows individual values for federal, state, and local taxes (when applicable).

2.Total withholding only: Shows a total of all withholding taxes (as shown above).

3.None: Withholding taxes are not printed in the report.

Print tax savings

This determines if the withholding tax savings, in comparison to the current situation, is printed.

Print tax bracket

This determines if the marginal withholding tax bracket is printed in the report.

Retirement contribution values displayed as

Options are Percent and Dollar. This will determine how the values are entered on the grid to the right of the editor.

Contribution value type

Determines if the contribution levels enter in the grid are absolute (e.g. "2%" would illustrate 2% of the client's paycheck) or relative ("2%" would illustrate 2% more than the client's current contribution).

When offsetting contribution value

Determines how the offset value is added when using Relative values for the Contribution value type.  There are three options:

Add offset, do not round: Adds the offsets values to the current contribution level. For example, if the current contribution is 2.4%, a 2% offset would illustrate a 4.4% contribution.

Round value: Adds the offsets values and rounds to the nearest whole percent. For example, if the current contribution is 2.4%, a 2% offset would illustrate a 4% contribution.

Round value up: Adds the offsets values and rounds up to the next whole percent. For example, if the current contribution is 2.4%, a 2% offset would illustrate a 5% contribution.

Hide Illustrations less than the current contribution value

If current contributions are being illustrated, this prompt is enabled. It determines if contribution values less than the current contribution should be illustrated. (This prompt is only available if the Contribution value type is Absolute values)

# of Contributions to Illustrate

Eight is the maximum number of contribution columns that can be displayed in the report. The value for this prompt is reduced if the Show current contribution column and/or the Show theoretical maximum contribution column (discussed above) are checked.