{"id":14387,"date":"2020-05-11T19:18:16","date_gmt":"2020-05-12T01:18:16","guid":{"rendered":"http:\/\/sehd.ucdenver.edu\/impact\/?p=14387"},"modified":"2020-05-11T19:24:16","modified_gmt":"2020-05-12T01:24:16","slug":"information-on-faculty-payment-schedule-selection","status":"publish","type":"post","link":"https:\/\/sehd.ucdenver.edu\/impact\/2020\/05\/11\/information-on-faculty-payment-schedule-selection\/","title":{"rendered":"Information on Faculty Payment Schedule Selection"},"content":{"rendered":"<p style=\"font-weight: 400\"><span data-contrast=\"auto\">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.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p style=\"font-weight: 400\"><span data-contrast=\"auto\">If no change is made to the payment schedule, then the previously chosen election will continue.\u202f<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p style=\"font-weight: 400\"><span data-contrast=\"auto\">The two payment schedule types are as follows:\u202f<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p style=\"font-weight: 400\"><b><span data-contrast=\"auto\">Faculty 9\/9 payments:\u202f <\/span><\/b><span style=\"font-weight: 400\" data-contrast=\"auto\">A<\/span><span data-contrast=\"auto\">cademic year salar<\/span><span data-contrast=\"auto\">ies will be paid from <\/span><span data-contrast=\"auto\">Sep<\/span><span data-contrast=\"auto\"> 30<\/span><span data-contrast=\"auto\">, 2020<\/span><span data-contrast=\"auto\"> through May 31<\/span><span data-contrast=\"auto\">, 2021<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p style=\"font-weight: 400\"><b><span data-contrast=\"auto\">Faculty 9\/12 payments:\u00a0<\/span><\/b> <span data-contrast=\"auto\">A<\/span><span data-contrast=\"auto\">cademic year salaries will be paid from Sep<\/span><span data-contrast=\"auto\"> 30,<\/span><span data-contrast=\"auto\"> 2020 through Aug<\/span><span data-contrast=\"auto\"> 31,<\/span><span data-contrast=\"auto\"> 2021<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p style=\"font-weight: 400\"><span data-contrast=\"auto\">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.\u202f<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p style=\"font-weight: 400\"><span data-contrast=\"auto\">Please select your payment schedule<\/span><b><span data-contrast=\"auto\"> in the employee portal before July 10.<\/span><\/b><span data-contrast=\"auto\">\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"3\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">Visit the <\/span><a href=\"https:\/\/www.cu.edu\/employee-services\/payroll\/pay\/contracts\"><span data-contrast=\"auto\">Employee Services<\/span><\/a><span data-contrast=\"auto\"> contracts page to learn how to choose a contract type.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true,&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"3\" data-aria-posinset=\"2\" data-aria-level=\"1\"><span data-contrast=\"auto\">The <\/span><a href=\"https:\/\/www.cu.edu\/docs\/contract-proration-calculator\"><span data-contrast=\"auto\">Contract Proration Calculator<\/span><\/a><span data-contrast=\"auto\"> 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.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true,&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"3\" data-aria-posinset=\"1\" data-aria-level=\"1\"><a href=\"https:\/\/www.irs.gov\/newsroom\/frequently-asked-questions-sec-409a-and-deferred-compensation\"><span data-contrast=\"auto\">IRS deferred compensation guidelines<\/span><\/a><span data-contrast=\"auto\"> will walk faculty through the tax implications of selecting a 9-pay-12 contract.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true,&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"3\" data-aria-posinset=\"2\" data-aria-level=\"1\"><a href=\"https:\/\/www.cu.edu\/docs\/contract-elections-guide\"><span data-contrast=\"auto\">Our Quick Reference Guide<\/span><\/a><span data-contrast=\"auto\"> will show faculty members how to select their contracts in the employee portal.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true,&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>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.\u00a0 If no change is made to the payment schedule, then the previously chosen election will continue.\u202f\u00a0 The two payment schedule types are as follows:\u202f\u00a0 Faculty 9\/9 payments:\u202f Academic year [&hellip;]<\/p>\n","protected":false},"author":72,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-14387","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/sehd.ucdenver.edu\/impact\/wp-json\/wp\/v2\/posts\/14387","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sehd.ucdenver.edu\/impact\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sehd.ucdenver.edu\/impact\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sehd.ucdenver.edu\/impact\/wp-json\/wp\/v2\/users\/72"}],"replies":[{"embeddable":true,"href":"https:\/\/sehd.ucdenver.edu\/impact\/wp-json\/wp\/v2\/comments?post=14387"}],"version-history":[{"count":0,"href":"https:\/\/sehd.ucdenver.edu\/impact\/wp-json\/wp\/v2\/posts\/14387\/revisions"}],"wp:attachment":[{"href":"https:\/\/sehd.ucdenver.edu\/impact\/wp-json\/wp\/v2\/media?parent=14387"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sehd.ucdenver.edu\/impact\/wp-json\/wp\/v2\/categories?post=14387"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sehd.ucdenver.edu\/impact\/wp-json\/wp\/v2\/tags?post=14387"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}