Payroll Terms & Acronyms

    C&T Yale University Clerical and Technical employee

    Casual Employee

    		 Yale University employee hired for a non–benefited temporary position

    Earnings

    		 Record of wages/salary paid to employee

    Exempt Employee

    		 Classification of an employee whose job title and description makes them exempt from provisions of the Fair Labor Standards Act.

    FICA

    Social Security (OASDI)

    Federal Insurance Contributions Act: A Federal system of old age, survivors, disability and hospital insurance.

    • OASDI : The old age, survivors and disability insurance part of FICA
    • Medicare Tax: The hospital insurance part of FICA
    • Additional Medicare Tax: Any gross income above 200k

    Fiscal Year

    		 Yale University’s Fiscal year is from July 1st through June 30th.

    Forms

    W-4

    		 The “Employee’s Withholding Allowance Certificate” that determines federal tax withholdings.

    CT W–4

    		 The “Employee’s Withholding or Exemption Certificate” that determines State of Connecticut tax withholdings.

    I–9

    		 The “U.S. Department of Justice Employment Eligibility Verification form”. All new employees must complete this form to verify eligibility of employment.

    Gross Pay

    		 The total amount of payments made to an employee prior to any taxes and/ or pre–tax or post–tax deductions.

    M&P

    		 Yale University Managerial or Professional employee

    Mail Code

    		 Three digit campus routing code assigned by Campus Mail Delivery Service for each department to ensure accurate campus mail deliveries of paychecks and/or pay advices.

    Net Pay

    		 The total amount of payment after any applicable deductions including Federal, State, Social Security and Medicare B taxes and pre–tax or post tax deductions. “

    Non–Exempt Employee

    		 Classification of an employee whose job title and description are covered by the provisions of the Fair Labor Standards Act (FLSA)

    On Demand

    		 The Workday/Payroll System’s term for any check processed and printed outside the realm of normal scheduled payroll processing cycles.

    Overpayment

    An employee has been overpaid for wages.  See University Policy.

    your.yale.edu/policies-procedures/procedures/3501-pr26-overpayments-and-underpayments

    Salary Advance

    Under unforeseen circumstances, payments made to an employee prior to pay period.  Must follow University guidelines.

    your.yale.edu/policies-procedures/policies/3501-payroll

    S&M

    		 Yale University Service and Maintenance Employee

    TVP

    		 Terminal Vacation Pay—Vacation Pay due employee at time of termination.

    Withholding Taxes

    		 Federal taxes and all State taxes withheld from payroll payments in accordance with State and Federal tax laws.