Understanding Semi-monthly - Jackson State University

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

Recently Viewed Presentations

  • Estudo de casos - FTC

    Estudo de casos - FTC

    Punção- 2º espaço intercostal na LMC. Drenagem intercostal em selo d'água: Inserir dreno entre o 4º e 5º espaços intercostais, anteriormente à linha axilar média. ... Avaliado através do Glasgow e AVDI* ↓ oxigenação e/ou perfusão cerebral ou TCE. Pupilas....
  • Simulation Software

    Simulation Software

    Simulation Software Discrete-Event System Simulation 5th Edition Chapter 4 * AnyLogic Supports: discrete event, agent-based, system dynamics (& combination) Hybrid: discrete & continuous Object library Java models, publish as applets Animation, Statistics, optimization, debugger * Arena Discrete & Continuous systems...
  • Chapter 2 Motion Along a Straight Line Position, Displacement ...

    Chapter 2 Motion Along a Straight Line Position, Displacement ...

    • Situations to be discussed should include the use of Doppler effect in radars and in medical physics, and its significance for the red-shift in the light spectra of receding galaxies ... Data booklet reference: ... A Doppler weather radar...
  • BMES WELCOME MEETING - University of Texas at Austin

    BMES WELCOME MEETING - University of Texas at Austin

    Track 1: Skills. Image and signal processing. Analog/digital network analysis. Software/hardware programming. Circuit Design. Data acquisition. Computational analysis of data in regard to living systems
  • The Holy Spirit is God There is one

    The Holy Spirit is God There is one

    Holy Spirit, I want to experience meaningful fellowship with You. I know I need to spend time with You and I want to learn to hear Your voice and experience you comfort, guidance, confrontation, and wisdom.
  • CINCO DE MAYO - Caldwell-West Caldwell Public Schools

    CINCO DE MAYO - Caldwell-West Caldwell Public Schools

    CINCO DE MAYO ¡Viva México! ¡Viva Juárez! WHY? In 1861, the Mexican Congress suspended repayment of foreign debts for 2 years, due to financial instability. Creditors in England, Spain and France decided intervention was needed. France secretly planned to impose...
  • Chapter 23: Plant Tissues & Systems

    Chapter 23: Plant Tissues & Systems

    Vascular Tissue . Vascular tissue supports the plant body and transports water and nutrients throughout the plant. The two kinds of vascular tissue are xylem, a water-conducting tissue, and phloem, a tissue that carries dissolved food.
  • Phrases - Mr. Keeble's Class

    Phrases - Mr. Keeble's Class

    Infinitives and Infinitive Phrases. Other points about infinitives. Infinitives used as direct objects can have a subject that precedes them: We wanted her to clean the garage. (direct object) Hidden infinitives are infinitives without "to". I'll help build the birdhouse....