2019 Maximum Allowable Contributions Limits for 403(b) and 457 plans

The IRS has recently announced the 2019 Maximum Allowable Contribution (MAC) limits for 403(b) and 457 plans. Elective contribution limits have increased from their 2018 levels.

The elective deferral limit for 403(b)/457 plans will now stand at $19,000. Employees age 50 and over will be entitled to contribute an additional $6,000 to their 403(b) or 457 plan(s) thereby increasing the elective deferral limit to $25,000. Individuals with at least 15 years of service with their current employer may be entitled to contribute up to an additional $3,000 above their age-based limit, potentially increasing the limit to $28,000 for a participant utilizing both the age based and the full amount of the service based catch-up provisions.

If you have any questions concerning contribution limits, or any other 403(b)/457 matter, please contact OMNI at 877-544-6664 or visit their website at www.omni403b.com.

2018-2019 Salary Schedules

THANK YOU! THANK YOU! THANK YOU!

Clark County Board of Education for approving a raise for the 2018-2019 School Year!

Certified Staff will receive a 2% increase in pay and Classified Staff will receive a 4% increase in pay starting July 1, 2018.

2018-2019 Salary Schedules

Certified Salary Schedule 2018-2019

Certified Additional Salary Schedule 2018-2019

Classified Hourly Schedule 2018-2019

Classified Salary Schedule 2018-2019

Substitute Teacher Daily Rate Schedule 2018-2019

 

2018-2019 Extra Services

Supplemental Salary Schedule 2018-2019

GRC High School Instructional Extra Services 2018-2019

GRC High School Athletic Extra Services 2018-2019

Campbell Jr High School Instructional Extra Services 2018-2019

Campbell Jr High School Athletic Extra Services 2018-2019

Phoenix Academy Instructional Extra Services 2018-2019

Baker Intermediate School Instructional Extra Services 2018-2019

Conkwright Elementary School Instructional Extra Services 2018-2019

Justice Elementary School Instructional Extra Services 2018-2019

Shearer Elementary School Instructional Extra Services 2018-2019

Strode Elementary School Instructional Extra Services 2018-2019

 

 

Updated 2018 Withholding Tables Now Available; Taxpayers Could See Paycheck Changes by February

CCPS employees will see a change in their January 30th paychecks due to the new Federal tax tables for 2018. The below article contains information you may find helpful regarding the new federal tax withholding based on the new Tax Law that the President signed the end of December.

 

WASHINGTON — The Internal Revenue Service today released Notice 1036 <http://links.govdelivery.com/track?type=click&enid=ZWFzPTEmbWFpbGluZ2lkPTIwMTgwMTExLjgzNTcxMTkxJm1lc3NhZ2VpZD1NREItUFJELUJVTC0yMDE4MDExMS44MzU3MTE5MSZkYXRhYmFzZWlkPTEwMDEmc2VyaWFsPTE3MTY4MTAxJmVtYWlsaWQ9bWdpbG1vcmVAcGNzY2hvb2xzLnVzJnVzZXJpZD1tZ2lsbW9yZUBwY3NjaG9vbHMudXMmZmw9JmV4dHJhPU11bHRpdmFyaWF0ZUlkPSYmJg==&&&127&&&https://www.irs.gov/pub/irs-pdf/n1036.pdf> , which updates the income-tax withholding tables for 2018 reflecting changes made by the tax reform legislation enacted last month. This is the first in a series of steps that IRS will take to help improve the accuracy of withholding following major changes made by the new tax law.

 

The updated withholding information, posted January 11th on IRS.gov, shows the new rates for employers to use during 2018. Employers should begin using the 2018 withholding tables as soon as possible, but not later than Feb. 15, 2018. They should continue to use the 2017 withholding tables until implementing the 2018 withholding tables.

 

Many employees will begin to see increases in their paychecks to reflect the new law in February. The time it will take for employees to see the changes in their paychecks will vary depending on how quickly the new tables are implemented by their employers and how often they are paid — generally weekly, biweekly or monthly.   The new withholding tables are designed to work with the Forms W-4 that workers have already filed with their employers to claim withholding allowances. This will minimize burden on taxpayers and employers. Employees do not have to do anything at this time.

 

“The IRS appreciates the help from the payroll community working with us on these important changes,” said Acting IRS Commissioner David Kautter. “Payroll withholding can be complicated, and the needs of taxpayers vary based on their personal financial situation. In the weeks ahead, the IRS will be providing more information to help people understand and review these changes.”

 

The new law makes a number of changes for 2018 that affect individual taxpayers. The new tables reflect the increase in the standard deduction, repeal of personal exemptions and changes in tax rates and brackets.

 

For people with simpler tax situations, the new tables are designed to produce the correct amount of tax withholding. The revisions are also aimed at avoiding over- and under-withholding of tax as much as possible.

 

To help people determine their withholding, the IRS is revising the withholding tax calculator on IRS.gov. The IRS anticipates this calculator should be available by the end of February. Taxpayers are encouraged to use the calculator to adjust their withholding once it is released.

 

The IRS is also working on revising the Form W-4. Form W-4 and the revised calculator will reflect additional changes in the new law, such as changes in available itemized deductions, increases in the child tax credit, the new dependent credit and repeal of dependent exemptions.

 

The calculator and new Form W-4 can be used by employees who wish to update their withholding in response to the new law or changes in their personal circumstances in 2018, and by workers starting a new job. Until a new Form W-4 is issued, employees and employers should continue to use the 2017 Form W-4.

 

In addition, the IRS will help educate taxpayers about the new withholding guidelines and the calculator. The effort will be designed to help workers ensure that they are not having too much or too little withholding taken out of their pay.

 

For 2019, the IRS anticipates making further changes involving withholding. The IRS will work with the business and payroll community to encourage workers to file new Forms W-4 next year and share information on changes in the new tax law that impact withholding.

The 2018-2019 School Year is Here!

The 2018-2019 school year is here! Please take the time to look around the Finance Department website, as we have added forms for Payroll and Accounts Payable, updated the salary schedules page for 2018-2019, added the 2018-2019 payroll calendar, and added a new page for Travel/Employee Reimbursement information that went into effect July 1, 2018. We hope that you all have a wonderful year and please feel free to contact us with any financial questions!

– Aleisha Ellis, Director of Finance/Treasurer