University of Colorado faculty on a contract may choose or change their contract payment schedule between May 1 and July 10, for the academic year 2020-21.
If no change is made to the payment schedule, then the previously chosen election will continue.
The two payment schedule types are as follows:
Faculty 9/9 payments: Academic year salaries will be paid from Sep 30, 2020 through May 31, 2021
Faculty 9/12 payments: Academic year salaries will be paid from Sep 30, 2020 through Aug 31, 2021
If no election is made by the deadline, paycheck delays may occur. Faculty may not revoke their chosen payment schedule during the plan year, except in the case of termination, death, or disability.
Please select your payment schedule in the employee portal before July 10.
- Visit the Employee Services contracts page to learn how to choose a contract type.
- The Contract Proration Calculator can help faculty to determine whether combined 9-pay-12 contracts exceed IRS limits and how it will be distributed over a 12-month period.
- IRS deferred compensation guidelines will walk faculty through the tax implications of selecting a 9-pay-12 contract.
- Our Quick Reference Guide will show faculty members how to select their contracts in the employee portal.