Matching Pairs PaycheckOnline version Paycheck terms by Laura Long 1 Payroll Deductions 2 Insurance 3 Earnings Statement/Paystub 4 State Income Tax 5 Federal Income Tax 6 Retirement Savings 7 Social Security Tax 8 Net Pay 9 Benefits 10 Gross Pay Services or privileges that an employer provides in addition to the employee's salary or wages. A document that shows wages and payroll deductions for a pay period. Money withheld from an employee's gross pay. An agreement to protect a person or business from specific risks in exchange for regular payments. Money employees set aside or invest for future income. A pay deduction required by law that supports the federal government. A federal tax that supports elderly, disables, or orphaned citizens. A pay deduction required by law that supports the state government. The amount of money you have earned during a pay period before any deductions. The amount of income you "take home" after pay deductions.
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