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Operations and Technical Assistants Open Forum to Discuss Pay Frequency Change from Monthly to Biweekly

Operations and Technical Assistants Open Forum to Discuss Pay Frequency Change from Monthly to Biweekly. January 19, 2006. Welcome and Introductions Comments from Vice President Almond Review of information contained in the employee packet

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Operations and Technical Assistants Open Forum to Discuss Pay Frequency Change from Monthly to Biweekly

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  1. Operations and Technical AssistantsOpen Forum to Discuss Pay Frequency Change from Monthly to Biweekly January 19, 2006

  2. Welcome and Introductions Comments from Vice President Almond Review of information contained in the employee packet Review of potential action items related to changing pay frequency What will not change as part of the conversion to biweekly Information for supervisors and payroll personnel Questions and Answers Agenda

  3. Letter from Human Resource Services dated January 11, 2006, providing additional information about the Pay Frequency Change delivered to you via your Business Office. Included was information about: Estimated conversion pay Illustration of gross pay with the new frequency Benefits and other deductions (estimated amounts) Information and instructions for net pay calculation Additional information Information Distributed

  4. Last Monthly Pay is February 28, 2006 First Biweekly Pay is March 15, 2006 Includes compensation for period March 1-5. Includes conversion pay to assist in transition to biweekly pay. Conversion pay equals amount required to bring you to same gross pay for FY 2005-06 that would have been received with monthly pay (see your personalized pay summary sheet for more information). No benefits deductions taken from this pay. Information Distributed

  5. Biweekly deductions start with March 29 pay (see your Personal Deduction/Tax Withholding Summary for more information needed to calculate net pay). Paycheckcity.com information was provided to help you determine net biweekly pay. If you need individual assistance with calculating your net pay, we have a sign-up sheet. Feel free to come up and sign it after the session and someone from Payroll/HR will contact you. Information Distributed

  6. For information related to your paycheck and your deductions, read your notification letter carefully and keep it available. New W-4/WH-4 forms are required to change the amount of your additional withholdings, or the current amount selected will be taken from your biweekly pay. TDAs require a new salary reduction agreement. Deductions will STOPon the following unless new authorization forms are submitted: PEP PEFCU (loans, savings, money market) U.S. Savings Bonds Contact information can be found in your letter or on the checklist. Preparing for the Change

  7. Review your financial situation The transition from being paid one time per month to once every other week will require you to: Review your financial situation. Consider the need to make adjustments for loan or other payments. Purdue has made local financial institutions aware that we are changing the pay frequency from monthly to biweekly for approximately 700 staff. Preparing for the Change

  8. Purdue Employees Federal Credit Union (PEFCU) has indicated it will have staff available to help individuals with the transition, even if those individuals do not have accounts at PEFCU. Human Resource Services, your Business Office, and Payroll are available to assist you. You can utilize OpTechHelp@purdue.com if you need to direct further questions or inquiries. Preparing for the Change

  9. You are still a member of the Administrative and Professional Staff. You will participate in the appropriate A/P recognition programs held each year by the Treasurer and Provost. You are still eligible to participate in APSAC. Your staff classification will remain as it is today, as either Operations or Technical Assistant. What Will Not Change

  10. Your retirement and leave benefits will remain the same as they are today. Individuals hired into Operations and Technical Assistants positions will have the same benefits as current staff in this classification. What Will Not Change

  11. Operations and Technical Assistants will need to complete biweekly timecards. Timecards must be reviewed and signed by supervisors. Timecards must be submitted promptly to ensure that pay is received on time. Overtime will now be recorded and paid based on the same pay period in which it is worked. Conversion payment is in lieu of Interest Free Pay Advance originally offered. Information for Supervisors and Payroll Personnel

  12. Training for Business Office/Payroll staff related to the change in pay frequency Fri., February 17 – 1:30-3:00 – FREH 1-1 & 1-2 Tues., February 21 – 8:30-10:00 – STEW 206 Information for Supervisors and Payroll Personnel

  13. Other Questions?

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