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Two-Semester Faculty Appointment Salary Override Calculation Upon Separation

This guide provides step-by-step instructions on how to calculate and process faculty salary overrides based on the two-semester faculty appointment and separation dates.

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Two-Semester Faculty Appointment Salary Override Calculation Upon Separation

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  1. Two-Semester Faculty Appointment Salary Override Calculation Upon Separation

  2. Determine Date of Separation • Review academic calendar • Determine primary semesters • Determine date of separation • Determine semester in which last date worked • Determine total number of work days for the semester (see Payout Schedule) • Determine total number of work days faculty member completed in semester (see Payout Schedule)

  3. Determine Base Salary • Determine annual base salary • Multiply annual base salary times 50% (to ascertain base salary for one primary semester)

  4. 2014-2015 AY Two-Semester Payoff Schedule

  5. Calculate Faculty Salary Override • Divide annual base salary for one semester by total number of work days in that semester (see Payout Schedule) to determine daily rate • Multiply daily rate times number of work days completed by faculty member • Determine annual base salary received via paycheck(s) paid during semester and to date for the AY

  6. Calculate Faculty Salary Override (cont’d) • Subtract annual base salary paid to date in semester from total annual base salary for the semester plus any salary due from prior semester, if any • The result is the amount of the faculty salary override

  7. Sample CalculationExample 1 • Primary semesters – Fall and Spring • Date of Separation – 01/01/2015 • AY base salary – $100,000. • 76 work days – fall semester • 76 days worked – fall semester

  8. Sample CalculationExample 1(cont’d) 1. $100,000. * .50 = $50,000. 2. $50,000. / 76 days = $657.89 per day 3. $657.89 * 76 days worked = $50,000. 4. $100,000. / 12 mos = $8,333.33 per month 5. $8,333.33 * 3 mos = $24,999.99 paid Sept. through Nov.

  9. Sample CalculationExample 1(cont’d) 6. Fall semester total salary due = $50,000. – $ 24,999.99 (salary paid Sept. through Nov.) = $25,000.01 (salary due for fall semester) 7. $25,000.01 faculty salary override in Dec.

  10. Sample CalculationExample 2 • Primary semesters – Fall and Spring • Date of Separation – 02/27/2015 • AY base salary – $100,000. • 73 work days – spring semester • 34 days worked – spring semester

  11. Sample Calculation Example 2 (cont’d) 1. $100,000. * .50 = $50,000. 2. $50,000. / 73 days = $684.93 per day 3. $684.93 * 34 days worked = $23,287.62 4. $100,000. / 12 mos. = $8,333.33 per month 6. $8,333.33 * 5 mos. = $41,666.67 paid Sept. through Jan.

  12. Sample Calculation Example 2 (cont’d) • Fall semester total salary due = $50,000. – $41,666.67 (salary paid Sept. through Jan.) = $8,333.33 (salary due for fall semester) • $8,333.33 + $23,287.62 = $32,620.95 faculty salary override

  13. Process PCR • Process PCR for the amount of the faculty salary override • HR will enter amount listed on PCR • Amount will appear on next paycheck

  14. Taxability of Faculty Salary Override • Faculty salary override will be taxed the same as any regular paycheck based on place of residence and work location

  15. 12-Month Faculty Appointment • There is no need to calculate a faculty salary override for a faculty member on a 12-month appointment since their salary is earned and paid in the same month

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