色色啦 salaried employees to move from 26 to 24 paychecks per year
KALAMAZOO, Mich.鈥擜s the July 1 start of the 2015-16 fiscal year approaches, 色色啦 Michigan University is putting the finishing touches on an initiative announced a year ago to move University salaried employees to a 24-paycheck-per-year schedule with two consistent dates each month when paychecks are issued.
The new schedule will feature paychecks dispersed on the fifth and 20th day of each month. The new pay schedule will apply to all salaried employees, while hourly and student employees will remain on their current biweekly pay cycle. Graduate assistants will continue to be paid biweekly as well.
New pay periods
- The first through the 14th day of each month, with payment on the 20th day of each month.
- The 15th day to the last day of each month, with payment on the fifth day of the following month.
For fiscal-year positions, the first paycheck in the new schedule, which covers June 15-30, will be paid on July 2鈥攚hich is the business day closest to July 5. When pay dates fall on a holiday or weekend, pay will be received on the last business day before the pay date.
The new schedule does not change the amount of an employee's annual salary, but it will impact the amount of pay received in each check, as annual salary is divided by 24 equal payments rather than 26. Annual leave will continue to be awarded in a lump sum at the beginning of the fiscal year. Over the year, sick leave will accrue at the same rate as it does currently. Benefit deductions will be modified to reflect the new semimonthly schedule.
Employee groups included in change
Those whose pay dates will change with the new pay cycle beginning fiscal year 2015-16 include:
- Departmental chairpersons.
- Athletic coaches.
- Fiscal year faculty.
- Executives and senior officials.
- Professional and administrative staff.
- Researchers.
Academic-year faculty and staff and part-time instructors will begin the new semi-monthly pay schedule with the first pay period of the fall 2015 semester, with the paycheck dated Sept. 4, 2015.
More information
A website with basic information about the conversion as well as answers to frequently asked questions can be found at wmich.edu/payroll/payroll/semimonthly.html. Those with questions regarding the pay conversion initiative can direct them to payr-semimonthlyquestions@wmich.edu.
Training sessions for office personnel charged with tracking employee hours and pay are planned for May 20 and May 21. Invitations to these training sessions and updated training materials will be distributed in advance of these meeting dates.
For more news, arts and events, visit wmich.edu/news.