The bi-weekly payroll calendar in a typical year results in 26 paychecks for full time employees paid over 12 months. This will not be the case for the 2011/2012 fiscal year as full-time employees paid over 12 months will receive 27 paychecks. This phenomenon occurs every ten years.
It is important to note the following full-time employees will be impacted:
Non-Contract Employees
Non-Teaching Professionals
Faculty members paid over 12 months
For these employees, it is important to note that although they will receive an additional paycheck during the 2011/2012 fiscal year, each individual paycheck will be for a lower amount when compared to a year which includes 26 paychecks. For example, if an employee makes $54,000 per year; their gross bi-weekly paycheck will be $2,000 in the 2011/2012 fiscal year as opposed to $2,076.92 in a year that includes 26 bi-weekly paychecks. The annual gross pay is the same, just spread out due to the additional paycheck.
Please take note of this important information as you plan for 2011/2012 fiscal year. The three months that will include three bi-weekly paychecks are September 2011, March 2012 and August 2012.
Faculty members who are paid over 10 months, CSEA employees and part-time employees will not be impacted by this calendar.
Martha Maher-Garcia Human Resources and Organizational Development 08/30/2011 |