So I’m completing the FAFSA & CSS forms. I had already submitted the FAFSA and started the CSS when I realized that my wife, who works for State Government has retirement deductions from her pay check. I didnt initially realize this because the deductions do not show up on her W-2. They never have for some reason. They do show up on her Check Stubs. This is how I noticed them. After determining that they are ONLY employee deductions and that the State provides matching funds UPON retirement, I went back and corrected the FAFSA form and also entered the necessary deduction amounts on the CSS form for both 2019 and current YTD for 2020. This retirement plan is NOT a 401k or 403b plan. Its a state government pension plan.
I have several questions regarding these retirement contributions. Do i need to submit them (contributions) both on the FAFSA form and CSS form since they do NOT appear on the W-2 form as explained on the FAFSA? I noticed my EFC increased slightly once I included them.
Next question, I recall originally there being a question on whether the contributions are required by the employer. Our contributions are required by my wife’s employer. So I want to go back and say yes, but for the love of me I can’t find this question again on either form, FAFSA or CSS? Does anyone know on what form and where this question is located? I would imagine if you are REQUIRED to contribute, that shouldnt reduce your EFC because you don’t actually have an option to NOT contribute and you don’t actually have access to those funds (if that makes sense).
In summary, do I need to put down contributions if they are not on the W-2? Do I need to include total balance for this retirement plan? Finally, where is this question on the form(s) regarding if contributions are employer required?
Thanks in advance!