April 24, 2019

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Calendar Year Compensation Statement FAQ

Commonly asked questions and information about the compensation statement.

Do I need any information from my compensation statement to file my taxes?

No. This compensation statement is for informational purposes only and is NOT a tax document. The purpose of this form is to allow each employee to see how much the district contributes to certain benefits in addition to the employee’s cash compensation.

Why doesn’t my total cash compensation equal my wages on my W-2?

The total cash compensation is your gross wages; whereas, the wages reported in box 1 on your W-2 is federal taxable wages, which is gross wages MINUS your pre-tax deductions.

As a teacher, why isn’t my contract base salary for the current school year matching the contract amount on the statement?

The contract amount indicated on your compensation statement is the total amount paid to you on your old and new contracts during the calendar year (January through December).

I forgot that I have health (or dental or vision) insurance and want to stop it. What do I need to do?

You will need to wait until the next open enrollment period (which will be sometime in October/November). In the fall, be on the lookout for emails sent by either the Director of Human Resources or the Benefits Coordinator with additional instructions.

If your question wasn’t answered by this FAQ, please contact the Payroll Department at 317/845-9400.

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