Note: There are critical deadlines coming up for GA, student, adjunct and temporary employees. Click to get more information from the wvOasis blog.
As you probably have heard, Marshall’s payroll system will be changing in two significant ways … payment in arrears, for those who are not yet on that system, and bi-weekly pay for all Marshall employees along with the rest of West Virginia state employees.
Marshall University is committed to making these changes as smooth and as transparent as possible for employees. That’s the reason we’ve compiled a Frequently Asked Questions page.
The change to payment in arrears will be applied to employees who started working for Marshall before July 1, 2002. (Those hired after that date are already paid in arrears.) To make sure you don’t miss a paycheck, the state will provide an interest-free advance in the amount of a regular semi-monthly payment. This advance will be paid back out of your final check when you retire or otherwise leave the university. Therefore, the effect on your day-to-day finances should be minimal, if not completely transparent.
Our change, along with all other state agencies, to bi-weekly pay will undoubtedly affect your finances and how you pay your bills. You will be paid every two weeks on Fridays beginning in January 2015. That adds up to 26 pay periods per year, rather than the 24 pays per year you currently receive. This means you’ll get somewhat less per check, although your yearly pay will not change.
It’s a good idea to start thinking now about this change and how it will affect, for example, any automatic payments you have set up, such as mortgages, car payments or credit card payments. You may want to contact the lenders in some cases.