How Will the Change to a Bi-weekly Pay Schedule Affect Me? 12-Month Faculty, Non-classified Staff, and Classified Exempt Staff 101915 Disclaimer: • The details we will share are our plans as of today. However, much of this plan is dependent on actions and decisions of the State. Several items remain unsettled, so there is a small chance that plans may change. What is happening? • The State implemented a new bi-weekly payroll system called wvOASIS. By the end of November, all State employees will be on this new system, with the exception of Marshall and WVU. • Marshall and WVU have been granted the authority to process their own payrolls on their respective campuses. Checks and direct deposits will still be generated by WVSAO, but on a bi-weekly schedule. When will I be paid? • Last semi-monthly paycheck will be December 31, 2015 – for pay period December 1 to December 16 • Transition paycheck will be January 8, 2016* – for pay period December 17 to December 25 • First bi‐weekly paycheck will be January 22, 2016 – for pay period December 26 to January 8 • All future paychecks will be cut every other Friday (may move to Thursday for certain holidays) *NOTE: January 8 is a “short-pay” with only 9 calendar days in the pay period How will my January 8th check be different? • January 8 is a “short-pay” with only 9 calendar days in the pay period (December 17th to 25th) • This will be a “deduction holiday” check, which means only required deductions will be taken • You will receive 3 paychecks in April, which will “catch up” your deductions not taken on the “deduction holiday”. Which deductions will be taken on January 8? • Required Retirement, but not optional retirement • Federal and State Withholding Taxes • FICA and Medicare Taxes • Huntington City User Fee Which deductions will be not be taken on January 8 but will be paid on my behalf? • Generally, deductions for a service/benefit will be paid on your behalf for the first half of January such as: – – – – – – – PEIA Health Insurance Mountaineer Flex and Prepaid Legal Life Insurance and Disability Recreation Center and YMCA Fees Athletic and Artist Series Tickets American Federation of Teachers Dues Parking • The third paycheck in April 2016 will have a deduction to repay the University for the amount paid on your behalf. • Should you leave the University prior to the third April pay, the amount will be taken on your final paycheck. Which deductions will be not be taken on January 8 nor paid on my behalf? • Certain deductions cannot be paid on your behalf: – Optional Retirement – College Savings Plans – Charitable Deductions – United Way, Foundation, Big Green • The third paycheck in April 2016 will have a deduction as a catch-up for the deduction holiday in January for these deductions. • No additional deduction will be taken if you leave the University prior to the third April pay. Which deductions are still being researched for the treatment on January 8? • We are still researching the treatment on the January 8 “short-pay” for deductions such as: – – – – – Garnishments Child-support Tax Levies Suggestee Executions Loan Repayment • We will contact impacted individuals once a determination is made How will my gross pay change for bi-weekly? • Your bi-weekly gross amount will be approximately 7.7% less than your semimonthly gross amount • You will receive 1 short-pay transition check and 25 bi-weekly checks in Calendar Year 2016 • You will receive 26 bi-weekly checks in Calendar Year 2017 How will my benefits and deductions change for bi-weekly? • Taxes and the Huntington User Fee will be withheld each pay based on a bi-weekly, rather than a semimonthly rate • Percentage based taxes and benefits such as FICA, Medicare and Required Retirement will correspond to the pay for each period • For the remainder of FY16, flat amount deductions such as PEIA, Optional Retirement, Mountaineer Flex, etc., will be withheld at a semi-monthly rate. Reminders for January - June 2016 • The January 8 paycheck will be a “short-pay” with a “deduction holiday” • April will have 3 bi-weekly paychecks (April 1, 15 and 29) • The April 29 check will have the catch up for the January “deduction holiday” Telephone and Internet Stipends • Currently, telephone and Internet stipends are paid on the last pay of each month. • Beginning January 2016, telephone and Internet stipends will be paid on the second pay of each month. Supplemental Pay • Spring overload pay, administrative stipends and research stipends will be paid in arrears over 9 pay periods beginning February 5 (if received by the deadline) • The pay method for Academic and Calendar year administrative and research stipends is still being explored; we will communicate the method once it is determined No Hardship Repayment • Reminder: if you received a No Hardship Payment in September 2014, it will be deducted from your final paycheck when you leave the University or will be transferred if you move to another State agency How will this impact my 2015 W-2? • Your W-2 will reflect the earnings (salary received adjusted for applicable pre-tax items) for 2015, as it normally would. • All of your paychecks for 2015 will be paid on a semi-monthly basis. • 2015 W-2s will be available online through myApps and mailed as in prior years. Summer 2016 and Fiscal Year 2017 • We will share information and have sessions in late March/early April for any changes that may impact Summer 2016 or Fiscal Year 2017 • We will also then provide information on the impact to your 2016 W-2 Where will I see my pay stub? • Beginning with the January 8 paycheck, you will be able to view your pay stub through myMU • Instructions on how to view the pay stub will be shared the first week of January Change in Direct Deposit • If you have a job with MU and a job with MURC at the same time, your direct deposit information must be the same for both jobs. • If you have one or more jobs with only MU, there are no changes to your direct deposit. Will the standard work week change? • Beginning December 26, 2015, the standard work week will be Saturday through Friday • All pay periods after the “short-pay” will have 14 calendar days Exception Time Entry • You will continue to report any leave taken during a pay period on your electronic time sheet. • You must submit your time sheet on Monday, following the end of a pay period, by 12pm. (Schedule will vary if Monday is a holiday) • Your supervisor must approve your time sheet by 5pm that same day. Do you supervise non-exempt employees? • With the transition to a bi-weekly pay schedule, all employees who currently complete purple time sheets will move to electronic time sheets during Spring 2016. • Since these employees are hourly, their time sheets must be submitted and approved by the deadline in order for them to receive a paycheck. • The new approval deadline for all electronic time sheets will be 5pm on Monday following the end of the pay period. (Dates may vary if Monday is a holiday) How will the change affect leave? • You will continue to earn the same amount of leave. • The method in which it is accrued has not yet been determined (monthly or bi-weekly). What should I do to prepare? • Review your budget and spending • Consider attending a Smart Money Series Session • Plan ahead for the cash flow impact from the transition, be mindful that during the month of January you will receive gross pay which is approximately 78% of what would have been paid had we remained semimonthly – we are lessening the impact with the deduction holiday • Familiarize yourself with the timing of the paydates in 2016 Smart Money Series • This is a program developed by various agencies to discuss personal budgeting. • If you are interested in attending a session, please complete the survey on the Pay Changes website so we know how many sessions to plan and can contact you regarding scheduled sessions. Once the change to bi-weekly frequency is confirmed • Review your current federal/state tax withholding exemptions to make any necessary changes for Calendar Year 2016. – Pay particular attention to “additional” tax withholding amounts. • You may want to request that creditors adjust your automatic withdrawal or bill-pay dates to align with your new pay schedule. What if I experience a financial hardship during the transition? • First, you should contact your creditors to explain the transition and see if they can provide temporary relief. • Contact Marshall’s Human Resources for options for emergency financial assistance. How do I find out about updates? • Review each “We Are…Marshall” online newsletter when it is published for notification of updates. • The website specifically for payroll changes at www.marshall.edu/paychanges has updates, FAQs and other useful information. Questions? • If you have questions, please email us at [email protected]
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