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 June 30, 2010 and remain employed on December 1, 2010, will receive a one-time 3% bonus, which will be paid on December 1, 2010.
o All eligible employees will receive 3% before withholding. There is no option for variable amounts.
o Salaried employees are instructional, research, post-doctoral fellows, administrative and professional faculty, and classified staff.
o 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 December 1, 2010. Special pay actions are those included on the faculty appointment letter that are active as of December 1, 2010.
• Wage employees who were employed June 30, 2010 and remain employed on December 1, 2010, will receive a one-time bonus equal to 3% of their calendar year to date gross earnings for hours worked as of the period ending November 21, 2010. The wage employee bonus will be paid on December 15, 2010.
• Bonuses will be processed and taxed in accordance with state and federal guidelines. We are still awaiting concise guidance from the State on the taxing method to be used and will communicate this information once it is known.
• 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 1, 2010.
• 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.
About Brynn Boyer