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.
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.
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.