This directive establishes the proper methods of enrolling in the twelve month payment option for 9 and 10 month faculty. The program will hold, in the form of an after-tax deduction, a portion of a nine or ten-month faculty member’s after-tax income and distribute it to them in six equal installments during the summer months.
The Twelve Month Payment Option is open to all faculty members on a nine or ten-month academic year appointment. It is an optional program designed as a savings method to help bridge the gap between the nine or ten-month work year and the desire to have twelve months of income. Electing a 12-month plan simply spreads the current nine or ten-month salary over 12 months of pay periods. No additional salary is paid as a result of the election.
Faculty members on nine or ten-month appointments may participate in the program. Adjunct faculty members are not eligible to participate.