How do I figure out my payroll deductions if the enrollment form is based on annual amounts?
After you have completed your enrollment form you will be able to see whether you have left-over flex dollars or whether you will owe a portion of the premiums. If you have left-over flex dollars, there will be no payroll deductions. If you owe premiums, you should divide the annual amount you owe from your enrollment form by 20 payperiods if you are a teacher or a principal. If you are a school and community service professional, divide by 24 payperiods. The dollar amount that you get after dividing the annual figure is the approximate per payperiod deduction. The reason it is an approximate amount is due to the fact that there is an additional deduction called “summer deposit” taken from your paychecks between January and June to pre-fund the summer months of July and August when no payroll deductions will occur. Summer deposit is calculated by adding two months of insurance deductions (July and August amount due) and dividing by the number of paychecks between January and June (usua
