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 and will impact all Non-Contract employees, Non-Teaching Professionals and those teaching Faculty members who selected to be paid over 12 months.
For those employees impacted, it is important to note that while 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 with the additional paycheck.
Please take note of this important information as you plan for the 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.
Attached is the 10/12-month Method of Pay Option form for 2011/12 with the correction on it regarding the 27 paychecks. Please note if you already turned in your form last week, you don’t need to resubmit the form; just be advised that the 12-month option has 27 paychecks for 2011/12.
Human Resources Team
Faculty 10 or 12 month Method of Payment.pdf