Your Paycheck

Once A Month

You will receive a paycheck only once a month: budget your pay wisely..."once a month" can seem like a very long time if you don't!

Pick Up or Deposit

You must confer with your employer and decide to either:

• Pick-up your paycheck (then cash or deposit it); or
• Elect the "Direct Deposit" option to electronically deposit your paycheck into your checking or savings account.

Advantages of direct deposit

• Your paycheck is automatically deposited on the first day of the month.
• You don't have to pick up your check and then take it to your bank.
• You get a statement that you can pick up at your convenience at your home department.
• Your money is available to you if you are not on campus to pick up your check - for example, winter and spring breaks.

1st Day of the Month

You may pick up your paycheck on the 1st working day of the month at your "Home Department." If you do not know your "Home Department," ask your supervisor. If the 1st day falls on a weekend, you may pick up your paycheck the Friday before the weekend.

Taxes

The Federal government considers your Work-Study wage "taxable income." As taxable income, it is subject to federal and state income tax withholding. Your paycheck stub will reflect these deductions should they occur.

Your Time Sheet

Your employer will:


• Provide you with a time sheet; and
• Instruct you on its proper completion; and
• Report your time (hours worked) to the UCSB Accounting Office with the close of each payroll cycle; and
• Issue your paycheck on the 1st day of the following month.

Note:

If you are a "monthly-rated" employee, such as a Teaching

Assistant or Graduate Student Researcher, check with your

employer on alternative payroll procedures and conditions.

FICA Regulations

FICA Exempt:

You are exempt from the Federal Insurance Contribution Act (FICA) taxes if you are registered:

• During the Academic Year:
  • As an undergraduate student enrolled in at least 6 units; or
  • As a graduate student enrolled in at least 4 units.

• During Summer Session:
  • As an undergraduate student enrolled in at least 6 units; or
  • As a graduate student enrolled in at least 2 units.

FICA Eligible:

If you do not meet the requirements listed above, you will contribute the following percentages from your pay:

• 7.50%
  To an individual retirement account in the UC's Defined
  Contribution Plan (DC Plan) as an alternative to paying
  Social Security taxes.

• 1.45%
  To Medicare

For Example:

You worked 40 hours at $6.00 an hour. Your gross pay equals $240.00. The following amounts would be deducted from your paycheck:

1. UC's DC Plan   (7.50%) = $18.00
2. Medicare          (1.45%) = $3.48
3. Federal and State taxes are assessed after the UC's DC Plan and Medicare deductions occur.