The Old Dominion University Research Foundation has completed its conversion to a new payroll processing system.  This update is to provide Research Foundation employees with pertinent information concerning changes to their paycheck or EFT remittance advice.  The information on these documents is divided into five sections:

• Earnings – Upper Left – This section indicates the earnings code, rate of pay, hours paid and total amount for the current pay period. 
• Deductions – Upper Right – This section indicates deductions from your current pay.  These deductions cover employee portion of health, dental, vision, insurance and other authorized withholdings.
• Leave – Lower Left – This section indicates the amount of annual and sick leave earned and / or taken during the current pay period.  Also indicated is the available balance of accrued and unpaid annual and sick leave earned.
• Taxes – Lower Right – This section indicates the amounts for both the current pay period and cumulative calendar year-to-date of required withholding for taxes.  These tax withholdings include any federal and state income taxes, social security and Medicare premiums.
• Bank Account – Bottom Left – On EFT remittance advices this section indicates the account number and amount your earnings have been transferred to.  This may be one or multiple accounts as requested by you as an employee.
• Totals – Summary – This section is a summary total of the earnings, deductions, taxes comprising the net pay for the current pay period.

The bottom of the document is either a negotiable check for deposit or a non-negotiable direct deposit advice.

The most common earnings, deductions and tax codes reflected on a pay check or remittance advice are as follows:

Other information concerning changes in employee net pay:

Virginia State Income Tax Withholding (SWT) – Please note that the new software rounds all Virginia State Income Tax withholding to the nearest whole dollar.  This is compliant with the Virginia Withholding Tax Code.  Therefore most employees will see a small change in the amount of their state income tax withholding.
Tax Non-Residents Federal Withholding – For International employees that are classified as Tax Non-Residents, there may be a decrease in the amount of federal income taxes withheld.