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Q:
What does this mean for the July 2006 pay period?
A:
The pay period for this transitional month will be July
1 st through July 21 st . For this month only, the pay period will
be 6 days shorter than normal.
Q:
How will this shorter pay period impact my July pay check?
A:
To minimize the financial impact, the BOR has implemented
a program to advance funds to all employees to cover the six day
difference. BOR will allow the advance to be repaid at the rate
of ½ day each month for the next fiscal year for 12 month
employees. Employees working less than 12 month will repay
the 6 days per the number of months they are employed (I.e., 9 month
employees with 10 paychecks will pay over 10 months at 0.60 day
a month).
Q:
If I am a 12 month employee, how will I repay the BOR?
A:
The advance for the 6 working days will be re-paid over
a 12 month period. For example, the July 2006 paycheck will include
15 working days plus an additional five and one-half (6 days advance
minus ½ day repayment) days. Employees will repay ½
day of the advance each paycheck for the fiscal year.
Q:
How will I know my advance balance?
A:
The balance will be shown on your pay stub.
Q:
What happens if I terminate my employment before the advance is
paid in full?
A:
The balance of the advance and any hours worked will be
calculated in your final paycheck.
Q:
Payroll Cycle Change for 9 Month Faculty
A:
With the change in pay cycle, your pay period will also
change from a calendar month to the 22 nd of the current month to
the 21 st of the following month. Therefore for those on a 9 month
appointment, instead of receiving one-half of a month's pay in August
(for the beginning of your 9 month contract in the middle of August
to the end of August), you will receive one-fourth of a month's
pay (for the beginning of your 9 month contract in the middle of
August to the 21 st of August), and three-fourths of a month's pay
in May (for the 22 nd of April through the end of your 9 month contract
in the middle of May).
Q:
Will 9 month employees receive the same assistance with this transition
as other employees who work 12 months?
A:
Yes. You will receive an advance equal to approximately
one-fourth of a month's estimated net pay (5 days). This Adjustment
will be repaid through payroll deduction in ten equal installments
from August 2006 though May 2007.
Q:
What about the payments after August 2006?
A:
Beginning in September, you will be paid for a full month
(minus repayment on the advance received in August). Your pay on
September 29 th will be for the period from August 22 nd through
September 21 st , October will be for the period from September
22 nd through October 21 st , etc. In May, 9 month employee's pay
will be for the period from April 22 nd until the end of your 9
month contract period – three-fourths of a month.
Q:
Will there still be a mid-May Payroll?
A:
Beginning with May 2006, campus payroll staff will no
longer process a separate payroll in the middle of May for 9 month
faculty. All pay for May will be processed for payment on the last
working day of May.
Q:
What if my pay changes during the year?
A:
The advance will be calculated and included in pay
at the beginning of the fiscal year. Repayments will be calculated
at the same time and loaded into the payroll system. Any pay
adjustments after this initial load will have no impact on the advance
or repayment. They will continue as initially determined.
Q:
Will my taxes be affected by the advance?
A:
The advance and repayment will be made on a net pay to
net pay basis. This means that the advance will be calculated
as an estimate of the difference in your net pay (after deductions). Repayments
will be calculated by dividing the amount of the advance by the
number of months in your repayment period. Therefore, there are
not implications to your taxes.
Salary
Calculator (12 Month Contract)
Salary
Calculator (9 Month Contract)
Salary
Calculator (9 Over 12 Month)
Salary
Calculator (10 Month Contract)
9
Month Contract Presentation
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