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<blockquote data-quote="Jackburton" data-source="post: 1332221" data-attributes="member: 34538"><p>Since I was bored I decided to do some number crunching, so here you go. These hours are from 40 weeks of retro due that I painstakingly added up. These numbers do not represent production bonus as the memo stated <strong>hours worked, holiday, vacations, </strong>will be paid</p><p></p><p>Regular hours (holiday included)1600 x .70 = 1120.00</p><p>Overtime hours 562.35 X 1.05 = 563.09</p><p>Double time 26.55 X 1.40 = 37.17</p><p>Giving a total of 1720.26 due in retro pay</p><p></p><p>Now I went back and tried to find a check that would accurately represent my particular tax bracket based on a closely matched check. The check in comparison is a 1796.90 as that's the lowest check I've made all year.</p><p></p><p>Deductions are as follows</p><p>FICA 111.41</p><p>FICA MEDICARE 26.05</p><p>FED TAX 183.43</p><p>STATE TAX 85.51</p><p>ROTH at 20% 359.38</p><p>UNION DUES 20.25</p><p></p><p>For a grand total of 786.03 in deductions.</p><p></p><p>1796.90 - 786.03 = 1010.87</p><p></p><p>So my Gross Retro pay is 1720.26 - X = 1018.00 (what was deposited in my bank today) insert 786.03 in deductions and it's pretty much a match. </p><p></p><p>All that to say, yes, 401k is deducted from your retro and the tax rate is your regular tax rate.</p></blockquote><p></p>
[QUOTE="Jackburton, post: 1332221, member: 34538"] Since I was bored I decided to do some number crunching, so here you go. These hours are from 40 weeks of retro due that I painstakingly added up. These numbers do not represent production bonus as the memo stated [B]hours worked, holiday, vacations, [/B]will be paid Regular hours (holiday included)1600 x .70 = 1120.00 Overtime hours 562.35 X 1.05 = 563.09 Double time 26.55 X 1.40 = 37.17 Giving a total of 1720.26 due in retro pay Now I went back and tried to find a check that would accurately represent my particular tax bracket based on a closely matched check. The check in comparison is a 1796.90 as that's the lowest check I've made all year. Deductions are as follows FICA 111.41 FICA MEDICARE 26.05 FED TAX 183.43 STATE TAX 85.51 ROTH at 20% 359.38 UNION DUES 20.25 For a grand total of 786.03 in deductions. 1796.90 - 786.03 = 1010.87 So my Gross Retro pay is 1720.26 - X = 1018.00 (what was deposited in my bank today) insert 786.03 in deductions and it's pretty much a match. All that to say, yes, 401k is deducted from your retro and the tax rate is your regular tax rate. [/QUOTE]
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