September 26, 2023

Dec. 1 Bonus Pay for Eligible Employees

As communicated in the 2022 UMW Salary Increase FAQs on July 14, 2022, all eligible full-time employees (classified, A/P and teaching faculty) will receive a one-time bonus payment of $1,000 on Dec. 1, 2022.  Eligible part-time classified employees will receive a pro-rated bonus.  Employees hired as of Aug. 10, 2022, and who remain employed through Dec. 1, 2022, will be eligible.  The bonus payment will appear in the Dec. 1 paycheck.

See below for information regarding options to defer the bonus to your deferred compensation plan, and bonuses for employees on leave.

Q: Can all or part of the Dec. 1, 2022, one-time bonus be deferred into my Deferred Compensation Plan?
A: Yes. The bonus can be deferred.  As such, part or all of the bonus may be deferred, subject to Defined Contribution Plan guidelines and annual limitations.

Q: What is the process for contributing the bonus to the 457 Deferred Compensation Plan?
A: Employees currently enrolled and new  participants may contribute part or all their bonus to the 457 Plan by completing a one-time deferral form and submitting it to Office of Human Resources or Payroll on or before Wednesday, November 9, 2022.

Q: What is the process of contributing the bonus to a 403(b) Pre-tax Annuity Plan?
A: Employees currently enrolled with a tax deferred annuity provider may contribute all or part of their bonus by completing the 403(b) Salary Reduction Agreement (SRA) form on or before Noon on Wednesday, November 9, 2022 to the Office of Human Resources or Payroll.

Participants are responsible for ensuring any additional contribution does not cause their total 2022 403(b) contributions to exceed IRS limits.

Q: What happens to employees on leave?

NOTE: These rules are based on policies that apply to classified employees.
a) Otherwise-qualified employees who are on short-term disability or other paid leave will receive the bonus on their December 1, 2022 pay date.
b) Employees on long-term disability-working will also receive the bonus on December 1, 2022. The adjustments do not apply to individuals who are on long-term disability-not working.
c) Employees on leave without pay are not eligible for the bonus until they return to work or a paid leave status.