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