Payroll Office: Faculty Pay Information
Faculty Salary Pay Election: Faculty employees have the option to choose a 12-month Salary Election for their 9-month Salary appointment. Faculty employee who chose the 12-month Salary election will be paid from September until August of the following year in 12 equal payments.
Irrevocable Election: Internal Revenue Code Section 409a and Deferred Compensation require a 12-month Salary Election must be completed prior to the school year or work period. Furthermore, the election of either the 9-month or 12-month Salary Election is irrevocable during the school year. A Salary Election will remain in effect until a future Salary Election is submitted for a following work year or when pay from an eligible funding source invalidates the 12-month Salary Pay Election.
Ineligible Fund Sources: 12-month Salary Election is not available for salaries paid from Grant funding.
Termination: If a Faculty employee who selected 12-month Salary Election terminates their employment prior to August 31, all deferred funds will be paid in a lump sum on the next regularly scheduled payroll to the employee or his estate.
Summer Out-of-Pocket Insurance Payments: Faculty employees who selected 9-month Salary Election must consider payment arrangements for their Out-of-Pocket insurance payment for the summer months. Standard process for 9-month Salary election employees is a quadruple deduction on the Faculty's May payroll check (payable on June 1) for the insurance deductions of May, June, July, and August.
Summer Appointment: Every Faculty employee who selected 9-month Salary Election will receive an email from the Payroll Office in April. The email will offer to the Faculty employee an option to spread their Out-of-Pocket insurance deduction if the Faculty employee will have a Summer appointment to cover the insurance deduction amount. For details, please follow the link to the Summer Insurance Policy
Concurrent Administrative Appointment: Faculty who have both an administrative and faculty appointment with a 9-month Salary election, call the Payroll Office directly for an individual consultation.
Retiring Faculty: Faculty employee with 9-month Salary election who plans on retiring on June 1, do not elect quadruple insurance deductions. Notify Payroll Office of your intentions to retire. As a Retiree, your insurance expense amount will differ.
Summer Insurance Frequently Asked Questions: FAQs
Parking Permit: 9-month Salary Election Faculty employees who do not intend to use the parking permit during the summer months must return the parking pass to the Parking & Transportation Department. Failure to return the parking pass and you have Parking payroll deduction, your October 1 paycheck will deduct the summer charges as well as the charge for September.
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