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Reading A Pay StubReview the following terms before completing this activity.Pay period: Set length of time (typically weekly, bi-weekly, or monthly) over which employee time is recorded and paidGross pay: The amount people earn per pay period before any deductions or taxes are taken outNet pay: Gross pay minus deductions and taxesPayroll deduction: The amounts subtracted from gross pay, which result in your net payPension: A sum of money paid regularly as a retirement benefit401(k): A retirement savings plan to which contributions are made by the employee and employer and are invested; it is tax-deferredFICA (Federal Insurance Contributions Act): A payroll tax used to fund Social Security and MedicarePart OneDownload the Reading a Pay Stub .docor .pdf(Note: if you use the .pdf you will need to copy the Part 1 and 2 questions into a word processing or text document).For Part One, use the sample pay stub to answer the Part One questions.Part TwoVisit the Internal Revenue Service’s website. This page consists of guidelines for what employers do with the money deducted from their employees’ paychecks.Using the menu on the IRS website, answer the Part Two questions in complete sentences.RubricReading A Pay Stub Rubric ExcellentGoodNeeds ImprovementPoorContent35–40 pointsThe work contains allthe required elements:responses to questions in Part One based on interpretation of the sample pay stubresponses to questions in Part Two, in complete sentences29–34 pointsThe work contains mostof the required elements:responses to questions in Part One based on interpretation of the sample pay stubresponses to questions in Part Two, in complete sentences20–28 pointsThe work contains some of the required elements:responses to questions in Part One based on interpretation of the sample pay stubresponses to questions in Part Two, in complete sentences0–19 pointsThe work contains few or none of the required elements:responses to questions in Part One based on interpretation of the sample pay stubresponses to questions in Part Two, in complete sentencesQuality35–40 pointsReading a Pay Stub document Part One and Part Two are completeand on topic. Responses are thoughtfully prepared, provide insight, and completely apply the principles discussed in the lesson.29–34 pointsReading a Pay Stub document Part One and Part Two are mostly complete and on topic. Responses are somewhat thoughtfully prepared, provide some insight, and mostly apply the principles discussed in the lesson.20–28 pointsReading a Pay Stub document Parts One and Two are somewhatcomplete and/or strays from the topic. Responses lack appropriate amount of thought, have limited insight, and somewhat apply the principles discussed in the lesson.0–19 pointsReading a Pay Stub document Parts One and Two are incompleteand/or strays from the topic. Responses lack thought, have limited insight, and inadequately apply the principles discussed in the lesson.21st century presentation skills17–20 points The work is wellorganized, easy to read and comprehend. It has few spelling or grammar errors.14–16 points The work is mostlyorganized, easy to read and comprehend. It has few spelling or grammar errors.10–13 pointsThe work is somewhatorganized, easy to read and comprehend. It has somespelling or grammar errors.0–9 pointsThe work lacksorganization, ease of reading and comprehension. It has many spelling or grammar errors.
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