From the Offices of Human Resources and Payroll
To: UMW Faculty and Staff
From: The Offices of Human Resources and Payroll
Subject: 2012 Bonus Pay
Date: October 1, 2012
The Governor and General Assembly have approved a one-time bonus for all salaried employees, including part time classified employees. In addition, President Hurley has approved a one-time bonus for wage employees paid an hourly rate for hours worked.
Here are the specifics:
- Salaried full and part time employees who were employed April 1, 2012 and remain employed on November 24, 2012, will receive a one-time 3% bonus, which will be paid on November 30, 2012.
- Salaried employees are instructional, research, post-doctoral fellows, administrative and professional faculty, and classified staff.
- A/P faculty and classified employees must have satisfactory 2012 performance evaluations (Below Contributor and Unsatisfactory ratings are not eligible). Classified employees may have received no Written Notices within the 2012 performance cycle.
- All eligible employees will receive 3% before withholding. There is no option for variable amounts.
- The bonus for salaried full and part time employees will be calculated using the employee’s annual salary that is creditable for retirement contribution (base salary plus special pay items) active as of November 24, 2102. Special pay actions are those included on the faculty appointment letter that are active as of November 24, 2012.
- Wage employees who were employed April 1, 2012 and remain employed on November 24, 2012 will receive a one-time bonus equal to 3% of their calendar year to date regular earnings as of November 18, 2012. The wage employee bonus will be paid on December 12, 2012.
- Bonuses will be processed and taxed in accordance with state and federal guidelines.
- Bonus payments are subject to garnishment withholding. If you currently have a court ordered garnishment reducing your net pay, you may contact the Payroll Office with specific questions on how your bonus pay will be affected.
- Employees may contribute the bonus to their 403(b) or 457 supplemental retirement account (subject to calendar year maximum contribution limits). Please initiate this process with the Payroll Office no later than October 31, 2012.
- The bonus is considered a discretionary bonus and will not be included in overtime calculations.
Please contact the Offices of Human Resources or Payroll with any questions.