Setting up a part-time job for a county in California and now have a PST deduction of 7.5% on paycheck stub. I found out it is for retirement, but not a pension. How do I treat it? Thanks for the help.
FYI - just a quick search -
What is California PST retirement ? The PST Employees Retirement Program is a mandatory retirement savings program authorized by federal law for employees who are not covered by a retirement system or Social Security. The program deducts a portion of your wages and deposits it in an account for you, allowing you to build retirement savings.
PST is a retirement savings plan for Part time, Seasonal, and Temporary workers. You set it up as an IRA in Quicken.
Note on the paycheck reminder itself this would be a transfer to that account (the "category" set to [AccountName]) most likely by selecting Add Pre-Tax Deduction → Other Pre-Tax Deduction.
