Estimating Net/Gross Pay

It is impossible to accurately determine an employee’s net pay before they are hired and select their benefits and tax status.

This is information regarding common deductions that would need to be accounted for when determining an estimate of an employee’s net pay:

Federal Tax 

Dependent on citizenship status and/or Federal Withholding Status 

CT Tax 

Dependent on citizenship status and/or CT Withholding Status 

Social Security Tax 

6.2% (if subject) 

Medicare Tax 

1.45% (if subject) 

AAUP Union Dues 

0.90%

Health Insurance 

https://hr.media.uconn.edu/wp-content/uploads/sites/2597/2024/06/2024-2025-Payroll-Deductions-1.pdf

Dental Insurance 

https://hr.media.uconn.edu/wp-content/uploads/sites/2597/2024/06/2024-2025-Payroll-Deductions-1.pdf

Retirement 

https://hr.uconn.edu/retirement-benefits/

Parking

https://park.uconn.edu/employees/permit-parking-rates/

Below is an example of estimating gross pay:

$60,000.00     Full-time annual salary

÷         26.00      Annual biweekly pay periods

$2,307.69      Full-time biweekly salary

 

Paycheck calculators, such as Paycheck City, can also help estimate net pay.