Due to Congress’s late approval and the IRS’s late release of
the 2018 federal withholding tax tables, the Jan. 31, 2018 paychecks were the
first checks of the year processed with the lower tax rate. As a result,
most employees saw an increase in their Jan. 31 take-home pay in comparison to
the Jan. 12, 2018 checks. The higher direct deposit / net pay is a result
of the reduced federal tax withheld.
This would be an excellent time to “pay yourself first” and invest in
your future by opening up a 457 or 403(B) Tax Deferred Investment plan or by
increasing your current contributions.
Refer to the CFISD / Staff / HR / Retirement website for more
information or contact TCG Plan Administrators at 1-800-943-9179 for additional
information or enrollment assistance.
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