Each year questions are asked about what seem to be discrepancies on members' W2s--specifically the amount shown in Box 1 (Wages) being too low.
The amount shown in Box 1 only reflects wages that are subject to federal, state and city taxes. Some wages are not subject to taxes and are not shown. Such items as TSAs, TDPs, MIP, Basic 4, Pension Plus, Section 125s, healthcare premiums etc. are not subject to taxes.
If a member made $65,000, but put $10,000 annually into her TSA, then Box 1 would only show $55,000 in taxable wages. If another member made $65,000, but put a combined $25,000 annually