W2 FAQs

For 2024:

• The Social Security (OASDI) tax rate paid by employees is: 6.2%
• The Social Security (OASDI) tax rate paid by the employer is: 6.2%
• The Medicare tax rate paid by employees & employer is: 1.45%
• The Additional Medicare tax rate paid by employees on income over $200k is: .9%

For 2024: Social Security wage base up to $168,600 (maximum tax of $10,453.20). There is no limit on Medicare wages, as all wages are subject to taxation.

For 2024: The California State Disability Tax rate is 1.1%. Effective January 1, 2024, there will be no cap on taxable wages therefore, the maximum tax is unlimited.

Each year, the University will mail your W2 on or before January 31st.

The amount in Box 1 of your W-2 will be your YTD Gross Pay stated your final pay slip statement plus Imputed Income minus any pre-tax deductions such as health/dental/vision insurance, flexible spending accounts and retirement and tax deferred savings plans, etc.

Pretax deductions are any amounts deducted from your gross earnings prior to tax calculations. These deductions may be 403(b) contributions, or non-taxable benefits covered under IRC Section 125, such as Health Benefits, Child Care, Group Life, Long Term Care, Pre-Tax Parking, etc. 

• Pre-tax benefits that are covered under IRC Section 125 are non-taxable for social security, Medicare, federal and state/city income tax purposes.
• Imputed Income are taxable non-cash benefit like Group Term Life (GTL).
• 403(b) before tax contributions are tax deferred for federal and state/city income tax purposes and, therefore, are not included in the amounts reported as federal taxable wages and state taxable wages. These amounts are, however, reported as Social Security and Medicare wages. Therefore, you will see a larger amount reported in Social Security and Medicare wages than in state/city and federal taxable wages.
• Social security wages are limited to $168,600 for the calendar year 2024.
• Wages exempt from FICA (i.e., Social Security and Medicare tax) under the student or nonresident alien exceptions (see below) are not included in Social Security or Medicare wages, but generally are reported as federal taxable wages and state taxable wages.
• Wages exempt under a tax treaty are not reported in Box 1, wages, tips and other compensation, but are reported in Box 16, state wages, tips, etc., and may be reported as Social Security and Medicare wages.

Salaries and wages paid by the University to individuals in either of the following categories are not subject to social security or Medicare taxes and, therefore, are not reported as social security or Medicare wages:

Payments made to certain Loyola Marymount University students* during the academic school year (i.e., September through May) and Non-resident aliens in F-1, J-1, M-1 or Q-1 immigration status performing services to carry out the purpose of their visa. 

*Applies to those students enrolled at least half time, lacking the status of a career employee.

Box 12 may include various codes with associated amounts. The most common codes reported on a W-2 issued by the University are:

• Code C Taxable Group Term Life Insurance over $50k,
• Code E Elective deferrals under a section 403(b) salary reduction agreement,
• Code P Excludable moving expense reimbursements paid directly to you, and
• Code BB Elective Roth deferrals,
• Code DD Cost of employer paid health benefits*.

*For informational purposes only.

Box 14 may include various codes with associated amounts. The most common codes reported on a W-2 issued by the University are:

• Code A Imputed* dental benefits,
• Code B Imputed* medical benefits,
• Code C Other Imputed Income such as Tuition Remission, Taxable Moving, etc*,
• Code D All Pre-tax benefits (no 403b included),
• Code E Deceased employee wages,
• Code F Parsonage Allowance
• (no code) CA SDI Tax

*Imputed = taxable benefits/income.

This box is checked for employees who are eligible to participate in the Loyola Marymount University Defined Contribution 403(b) retirement plan.

If this boxed is checked and you know you are not eligible as stated above, please contact the Payroll Department at (310) 338-2713 between 8:30am and 4:30pm or payroll@lmu.edu.

If there is an error, it will be corrected and you will receive a re-issued W-2.

All active Faculty, Staff and Student employees must log into Workday to update their change of address and reprint their W-2. 

Westchester Campus

Please contact the Westchester Payroll department with the supporting documentation of name and/or social security number change/correction. We will issue a W2c (Corrected Wage & Tax Statement) to you.

Law School Campus

Please contact the Law School Fiscal Affairs-Payroll department with the supporting documentation of name and/or social security number change/correction, and they will coordinate with the Westchester Payroll department to issue a W2c (Corrected Wage & Tax Statement) to you.

All Active employees may access tax documents by logging in Workday and viewing Tax Documents via employee Self Service. Please follow the instruction provided in this link: View and Print W-2s

Employees who are inactive may access their W-2 through the ADP iPay website:  https://my.adp.com

If you are not registered with ADP, you may do so using this registration code (all lower case): lmu-adptemp043016

You may request a duplicate W-2 by emailing the Payroll Office at payroll@lmu.edu. Please provide us with your name, phone number and a mailing address.

No. To ensure confidentiality, the W-2 must be mailed or picked up in the Westchester Payroll department with a photo I.D. (For the Law School campus, the Westchester Payroll department will send your W2 to the Fiscal Affairs-Payroll department for pick up).

Please log on to Workday Employee Self Service and update your W-4 and CA DE-4 Tax Elections online.  Please follow the instructions in the link provided: Change Federal and State Withholding Elections.

1. Internal Revenue Service (Federal): 800.829.1040
2. Franchise Tax Board (State of California): 800.852.5711