Policy Statement:

Lakeway Christian Schools (LCS) adheres to a policy of making regular payroll deductions in compliance with legal requirements and the interests of its employees.

Statutory Payroll Deductions:

• LCS is legally obligated to make regular deductions for taxes imposed by government units, including federal, state, and local income taxes, as well as Social Security and Medicare taxes. These deductions are made from all employee paychecks, and the withheld amounts are remitted directly to the applicable governmental units.
• Under the Social Security Act, LCS reports yearly taxable earnings to the Social Security Board. Benefits are computed based on reported earnings, and LCS is required to deduct Social Security taxes from employee paychecks and remit these taxes to the federal government on behalf of the employees.
• LCS provides employees with annual W-2 statements by January 31 of each year. These statements detail the total amount of taxable earnings, including all deductions taken during the previous year.

Other Payroll Deductions:

Any payroll deductions other than statutory tax deductions require specific approval by the LCS Board of Directors, unless otherwise provided by law.

Garnishments:

Legal settlements, levies, and garnishments will be processed by LCS to the extent required by law. LCS will notify affected employees upon receipt of such orders.

Implementation and Compliance:

This payroll deductions policy is implemented consistently across LCS payroll processes. All employees and authorized personnel are required to comply with this policy, which is designed to ensure compliance with legal requirements and protect the interests of both employees and the school.