Payroll year-end and tax information
Loma Linda University Health's payroll department is responsible for processing earnings, payroll deductions, tax withholding, time and attendance, paid leave cash-outs, garnishments, tax deposits, corporate tax filings, W-2s, and more.
The following is important year-end information, including new tax limits for 2024.
2023 Electronic W-2 Wage and Tax Statement
Your 2023 W-2 will be available on PeoplePortal and/or mailed by January 31, 2024. If you have not submitted an authorization to receive your W-2 electronically, a W-2 form will be sent to your mailing address on file.
2023 Form 1095 - Employer-Provided Health Insurance Offer and Coverage
Form 1095 Employer-Provided Health Insurance Offer and Coverage provides you with information about your election of medical coverage offered by your employer. This form will be postmarked by March 31, 2024 for calendar year 2023 and sent to your mailing address on file as of January 31, 2024. It is not necessary to have a 1095 in hand to file your income tax return.
Exempt W-4 Status
If you are currently claiming “exempt” on your W-4, you will receive an email notification regarding the W-4 expiration date and requirements for 2024. To maintain your exempt status, a new W-4 election must be submitted online via LLEAD by February 15, 2024. If you fail to submit a new election, we are required to begin tax withholding using the most recent valid W-4 or if none is available, withhold taxes as if you are filing “single.”
|
Tax Limits and Rates for 2024 |
|
|
Social Security Wage Base |
$168,600.00 |
| Social Security Tax Rate | 6.20% |
| Maximum Social Security Tax | $10,453.20 |
| Medicare Wage Base | No limit |
| Medicare Tax Rate | 1.45% |
|
Additional employee Medicare Tax on wages over $200,000 for individuals or $250,000 for married filed jointly |
.90% |
| CA State Disability Insurance Wage Base |
Eliminated |
| CA State Disability Insurance Tax Rate | 1.10% |
| Maximum CA State Disability Tax |
Eliminated |
2024 403(b) Contributions
The annual maximum 403(b) contribution is $23,000.00 for individuals under age 50 in 2024.
Catch-Up 403(b) Contribution:
Individuals age 50 or older by the end of the year can make “catch-up” contributions in addition to the $23,000 limit. The 2024 403(b) Catch-Up Contribution is $7,500 for a total annual contribution of $30,500.00
LLEAD as of December 26, 2023
View Payslips
W-4 Tax Withholding
Direct Deposit / Personal Payment Method
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Accuracy of Records
It is important to review your personal information and verify that your name, address, and Social Security number are accurate.
Please log on to LLEAD to view and update your information.
If you submit a name change via LLEAD, you must submit a copy of your Social Security card to Human Resource Management (HRM) for verification and final processing.
Your Social Security Statement
Statements are available online, www.socialsecurity.gov or call 1-800-772-1213. Automated services available 24/7.
