Retirement Payroll Report
RETIREMENT PAYROLL REPORT
Prepared by: [Your Name]
I. Employee Information
|
Employee Name |
Employee ID |
Employment Status |
Date of Birth |
|---|---|---|---|
|
John Smith |
12345 |
Active |
01/15/2055 |
|
Jane Doe |
67890 |
Active |
03/20/2060 |
|
Michael Johnson |
24680 |
Active |
07/10/2058 |
|
Emily Brown |
13579 |
Active |
11/25/2056 |
|
Sarah Wilson |
97531 |
Active |
09/08/2057 |
II. Earnings and Deductions
|
Employee Name |
Gross Earnings |
Retirement Deduction |
Other Deductions |
|---|---|---|---|
|
John Smith |
$5,000 |
$500 |
$300 |
|
Jane Doe |
$4,500 |
$450 |
$250 |
|
Michael Johnson |
$4,800 |
$480 |
$280 |
|
Emily Brown |
$4,200 |
$420 |
$200 |
|
Sarah Wilson |
$4,700 |
$470 |
$260 |
III. Employer Contributions
|
Employee Name |
Employer's Retirement Contribution |
|---|---|
|
John Smith |
$750 |
|
Jane Doe |
$675 |
|
Michael Johnson |
$720 |
|
Emily Brown |
$620 |
|
Sarah Wilson |
$700 |
IV. Employee Contributions
|
Employee Name |
Employee's Retirement Contribution |
|---|---|
|
John Smith |
$500 |
|
Jane Doe |
$450 |
|
Michael Johnson |
$480 |
|
Emily Brown |
$400 |
|
Sarah Wilson |
$470 |
V. Tax Withholdings
A. Federal Taxes
-
John Smith: $700
-
Jane Doe: $630
-
Michael Johnson: $680
-
Emily Brown: $590
-
Sarah Wilson: $660
B. State Taxes
-
John Smith: $300
-
Jane Doe: $270
-
Michael Johnson: $290
-
Emily Brown: $250
-
Sarah Wilson: $280
C. Local Taxes
-
John Smith: $100
-
Jane Doe: $90
-
Michael Johnson: $95
-
Emily Brown: $80
-
Sarah Wilson: $85
VI. Summary and Totals
|
Total Contributions |
Total Deductions |
Net Pay |
|---|---|---|
|
$2,025 |
$1,790 |
$3,235 |
The Finance and Accounting Department provides a detailed Retirement Payroll Report to track retirement transactions for employees born after 2060. It ensures accurate financial reporting, compliance, and precise net pay calculations. The report includes sections on employee info, earnings, deductions, contributions, tax withholdings, and a summary of totals, ensuring transparency and accountability in payroll management.
