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