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Nine-month faculty may elect to be paid over 12 months

We are pleased to announce that starting this coming academic year, the option for 9-month faculty to be paid over 12 months will now be available.

The annual enrollment period for this option will typically be from July 1 to August 15 of each year or within 60 days of hire. Since this is the first year of availability, this year’s deadline will be August 23, 2018. This year, if chosen by a faculty member, this payment option will become effective with the first full pay period beginning August 24. While faculty may only opt in upon hire or during this annual enrollment period, they may opt out at any time.

This plan allows employees to select a fixed savings amount to be deducted from each of the 18 full biweekly paychecks received during the fall and spring semesters. The total savings is then returned to the employee in equal amounts for the 6 full biweekly paychecks received during the summer.

This program will not impact any summer appointments, including grants eligibility. Pay received for supplemental summer assignments will be unaffected by this plan. This pay plan is subject to tax limitations.

To learn more, visit http://www.fa.ufl.edu/departments/payroll-tax-services/twelve-month-payment-option-for-nine-month-faculty for frequently asked questions, a 12-month payment option calculator and the enrollment form.

Questions may be directed to Payroll & Tax Services at TimeLaborHelp@admin.ufl.edu.

Published: June 26th, 2018

Category: Memoranda