Voluntary Deductions
Voluntary Deductions
This is the amount that an employee has elected to be subtracted from their gross pay each pay period.
Medical Benefits/Insurance
- Health Care Plans
- Insurance
- Voluntary optional policies
Union Due
- Applies to jobs in certain industries
- Regular payment of money made by members of unions for cost of membership
- Used to fund the various activities which the union engages in
Retirement
- 401(K)
- Traditional IRA
- Roth IRA
Other Company Sponsored Benefits
- Employee Stock Purchase Plan (ESPP)*
- Pet insurance
- Virtual doctor
*Employee Stock Purchase Plan (ESPP)
- Company-run program in which employees can purchase company shares at a discounted price
- Employees contribute to the plan through payroll deductions
- Your contributions to the ESPP are taxed at ordinary income rates