Academic faculty and staff on the Urbana campus who anticipate cash-flow problems when their pay date changes this fall will be able to get assistance from a short-term transitional payment program offered by the university.
Beginning in September, continuing academic employees with 12-month appointments who are paid monthly will begin receiving their paychecks on the 16th instead of the 21st of the month. Employees who are paid biweekly will not be affected.
Continuing academic staff with 12-month contracts will receive their final monthly checks for FY 02-03 on Aug. 21. Then they will receive a paycheck on Sept. 16 for the period Aug. 21 to Sept. 15. Employees will receive their next paycheck Oct. 16 for the period Sept. 16 to Oct. 15.
Because the Sept. 16 check will be issued five days earlier than usual, it will be prorated. Employees at any salary level who need help meeting their financial obligations as the new system is implemented can elect to obtain a supplemental payment in the amount of $500, $1,000 or $1,500 on either Sept. 16 or Oct. 16.
Employees who want to participate must contact Academic Human Resources and complete a promissory note by Sept. 10 (check issued Sept. 16) or Oct. 10 (check issued Oct. 16). The interest-free notes will be issued for a maximum term of four months. Recipients will be billed for three equal installments in successive months after they receive their transition checks. According to the terms of the promissory note, any overdue payments will be deducted from employees’ paychecks.
The transition payments, repayment notices and overdue notices will be mailed to employees’ home addresses.
The change in pay date and service date for academic employees at Urbana is a cost-containment measure the university is undertaking to reduce the number of payrolls being run for the three campuses. The change also will better align the service calendar with the instructional calendar set by the Urbana Senate.
More information about the transition payment program and payroll change is available on the provost’s Web site at www.provost.uiuc.edu/provost/announce/tpp.html or by contacting Academic Human Resources, 333-6747.