See definition by plan below. Educated Choices supplemental life, dependent life and long-term care plans: Amounts withheld from your net pay for your share of the costs for these plans after federal and state income taxes, and Social Security (FICA) taxes are calculated and withheld. Employees who are on certain leaves of absence will be billed and will have to pay for their benefits in after-tax dollars. Stanford Contributory Retirement Plan (SCRP): Contributions deducted from your net pay after all applicable federal, state, and Social Security (FICA) taxes have been withheld. "After-Tax" contributions are included in the taxable income reported on your W-2, and not again subject to tax when distributed to you.
Investments in a retirement plan that come from the taxable portion of an employee's pay-unlike pretax contributions, which are deducted from the employee's pay before taxes are calculated. Sometimes called voluntary contributions.
Amounts paid by members before July 1, 1986, or amounts paid by members to buy credited service. These amounts were or are paid from taxable income and are not taxed again when the ASRS pays a refund or benefit payment.
After-tax or nontaxable contributions are member contributions made through payroll deductions (or any lump-sum payment other than a rollover made by a member) and taxed at the time they were made. Nontaxable contributions are not subject to taxation when a member withdraws them or retires, although the interest earned on the contribution is taxable.
Contributions to a retirement plan which are subject to federal income tax. also called voluntary contributions.
Contributions to the Savings Plan that you elect to have withheld from your paychecks after you pay taxes. Because you already paid taxes on this money, you do not pay additional taxes in the future. However, any earnings on your after-tax contributions are taxed when you withdraw the money from the Plan.
Contributions for certain benefits that are deducted from your paycheck after federal, state, and local taxes are withheld.
Employee contributions that have been taxed and then deposited in the Participant's account.
contributions made after current income tax is paid; also referred to as the Investment in Contract (IVC).
contributions to a qualified plan from an employee's pay after applicable federal, state and local taxes are withheld.
After-tax contributions—for such programs as life, LTD and long-term care insurance—are deducted from your paycheck after all applicable taxes have been withheld. Close Window
Generally, most retirement plans do not allow after-tax contributions or “voluntary contributions”. If a retirement plan does allow after-tax contributions, they are deducted from the employee's paycheck after all taxes have been deducted.