The Paycheck Modeler enables you to calculated a “what if” paycheck:
“What if I receive 10 hours of overtime this week, what will be my net pay?”
“What if I elect the PPO80 plan, how will this impact the total cost of my deductions?”
“What if I update my withholding allowances to 5?
You can enter these scenarios into the modeler and “model” a paycheck. You can then view the impact of these changes to your earnings, deductions, taxes and net pay.
No “changes” made in the modeler will update/change your data. The appropriate paperwork must still be submitted to Human Resources to make any changes to your information.
To access the Paycheck Modeler, log in to my.tcu.edu. Select Employee Center. Under Payroll Information, select Paycheck Modeler. Then, follow the step-by-step “wizard” to model a paycheck. As a starting point – paycheck modeler uses your most recent paycheck to populate earnings, your current enrollments to populate deductions and your current W-4 information to populate taxes.
Note: Paycheck Modeler is unavailable when Human Resources is processing a monthly or bi-weekly payroll.