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