Prepayment employee version_2_3_2012
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Prepayment employee version_2_3_2012

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NRMPS Finance - Help answer questions regarding new legislation and how it will affect 10 month employee's salary, benefits, and other deductions.

NRMPS Finance - Help answer questions regarding new legislation and how it will affect 10 month employee's salary, benefits, and other deductions.

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Prepayment employee version_2_3_2012 Prepayment employee version_2_3_2012 Presentation Transcript

  • HB 720Prepayment of Teachers Nash-Rocky Mount Public School System
  • Who will this Affect?This legislation will affect all 10 month employeespaid on salary including teachers, support staff, mostassistant principals, all child nutrition staff, andteacher assistants.This will not affect employees who work 11 or 12months. Nash-Rocky Mount Public School System
  • What we knowHouse Bill 720 eliminated the prepayment ofsalary for teachers, effective July 1, 2012 (will beimplemented with the beginning of the 2012-2013school year). The elimination of pre-payment ofteacher’s salaries does the following: Nash-Rocky Mount Public School System
  • 1.Working less than a full month and being paid a full month is prohibited, as this constitutes prepayment. Normally, our 10 month employees are paid a full month’s salary in August, the two weeks they worked in August and the two weeks they will work in September. Employees will only be paid for time worked and not time that will be worked. Nash-Rocky Mount Public School System
  • 2. Teachers and all 10 month employees will still be paid for all 10 months of employment. The amount you are paid is NOT changing. The only thing changing is WHEN you are paid3. All eligible 10 month employees can still request and be allowed to have their salaries spread out over 12 months. Nash-Rocky Mount Public School System
  • 4. The only compliant option according to the current law is to provide partial payment at the end of August(for days worked in August only) and full payment at the end of September (for all days worked in September). We are waiting for direction from the Department of Public Instruction before deciding on pay dates. Nash-Rocky Mount Public School System
  • 5. Any or all of this is subject to change dependingon decisions made in Raleigh. It may be as late asMay 2012 before we know more. As stated the lawto prepay has been repealed , but as it stands nowadjustments to that law are required in order tofacilitate change.6. This is going to be a major adjustment for all 10month employees. At this point, there are manyunanswered questions and we will keep youinformed as we learn more. Nash-Rocky Mount Public School System
  • What about the deduction for hospital insurance?Your September premium normally is deducted fromyour August check. We will begin deducting yourcheck for this premium this February, March, April, and May of 2012 . You may choose not tohave this deduction by completing theHospitalization Waiver Form, but will be expected toprovide payment by August 31, 2012 for any owedpremiums. Nash-Rocky Mount Public School System
  • Listed below is the amount which will be deductedfrom your check depending on the type of coverage.The deduction will be in your Feb – May, 2012 check. 70/30 Basic 80/20 Standard Plan Plan Employee Only 5.41 Employee/Children 47.03 67.95 Employee/Spouse 121.18 149.51 Employee/Family 129.07 158.19 Nash-Rocky Mount Public School System
  • Wellington Benefit (cafeteria plan) deductionsThis year the deductions will be collected in 9months for all 10 & 11 month employees.Deductions for these benefits will not come out ofyour June, July, or August check. These months areskipped so you do not need to be concerned aboutthese deductions. Nash-Rocky Mount Public School System
  • What about deductions for mortgage payments, loans, and voluntary retirement, child support, and student loans?Employees will need to make plans with theirlender or annuity provider to cover the month ofAugust 2012. These deductions will not be paid onbehalf of the employee. Nash-Rocky Mount Public School System