Understanding Semi-monthly - Jackson State University
Understanding Semi-monthly Whats the difference between a monthly payroll cycle and a semi-monthly? Number of pays How will my paycheck be
impacted by this transition? You will receive two paychecks per month instead of one paycheck. First, semi-monthly pay date is July 15th What days are covered for each pay period? 1st Pay check pays you for
services perform from the 1st through 15th of the month 2nd pay check pays you for services performed from the 16th through the last working day of the month What are the new semimonthly pay dates? 2013 Calendar
Year Month 1st Pay Date 2nd Pay Date July 15th
31st August 15th 30th September
15th 30th October 15th 31st
November 15th 27th December 15th
20th Faculty Pay 2013-2014 Faculty 9 Month Faculty pay will be disbursed from August 31st May 15th
Is Salary Deferred still an option for Faculty? YES, as a faculty member, you can still chose to have your salary payments disbursed over 12 months. Disbursement will be September 15th August 31st
Calculation Example For example, say your annual salary is $50,000 A 9 month employee salary is calculated as follows: $50,000/18 pay periods = $2,777.78, is your gross semi-monthly pay. A 12 month employee salary is calculated as follows: $50,000/24 pay periods = $2,083.33 , is your gross semi-monthly pay.
Will I need to make any changes to my direct deposit? Yes, if you currently have a split direct deposit allocation for a specific amount How will this affect my benefit deductions?
Benefits will continue uninterrupted ALL SELECTED DEDUCTIONS will be split in half and taken out of each semi-monthly paycheck except Supercard Supercard charges will be deducted from the 2nd pay check Will my taxes be affected?
Yes The amount deducted will be based upon the rates defined in the semi-monthly IRS tax table. Will I have to make any changes to my taxes or withholding?
No Changes will only be made if you submit a new W-4 form the Human Resources NOTE: Please consult your tax preparer for more Will I still accrue Vacation & Sick Leave?
Yes The amount accrued over the course of the year will not vary from the statutory amounts The accrued leave will be updated at the end of each month Is there anything I can do to
plan for this change? Examine your personal budget to determine the impact of the pay frequency changes Review any automatic bank drafts or loan payments Can I opt out of the semimonthly payroll cycle? No
All University employees will be paid semi-monthly Thank you
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