Business Process: Transition from Semimonthly to Biweekly Payroll Cycle
As you know, Brown is approaching the final phase of the Workday HR/Payroll system replacement project, with an expected go-live date of July 1. This provides the opportunity that we have been waiting for to improve our compliance with state and federal payroll requirements. Specifically, we will move from our current semimonthly payroll cycle to a biweekly payroll cycle for all non-exempt staff and students effective July 1, 2012. (Note: This change does not affect employees who are currently paid weekly.)
How Will This Affect Me?
- Semimonthly staff will be paid biweekly over 26 pay periods each fiscal year, instead of 24.
- Paydays will occur every 14 days – every other Friday.
- Each 14-day pay period will begin on Sunday and end on Saturday; paychecks will be distributed the following Friday.
- Paychecks will be based on work already performed, rather than for some work that has been performed and some that is anticipated, as is the case with the current semimonthly system.
Summer 2012 Pay Dates
|Pay Date:||Pay Period Covered:|
|June 29||June 15th-June 30th|
|July 20||July 1st-July 14th|
|August 3||July 15th - July 28th|
|August 17||July 29th - August 11th|
|August 31||August 12th - August 25th|
How Can I Prepare for the Transition?
Staff may wish to take time now to consider how these cash flow changes will impact your bill-paying routine, particularly between June 29 and July 20. For example, if you have a mortgage or car payment automatically paid from a checking account, you may want to adjust the arrangements with your bank or credit union. Please view the links below to see a complete schedule of all the pay periods and pay dates in FY’13 along with a list of FAQs.
Other Resources to Assist You
You might also want to consider making an appointment for a confidential phone counseling session to review your finance and budgeting strategies. Brown’s employee assistance provider, LincolnFinancial Group®, will provide the necessary financial information you need to manage this transition. The University will also give you the opportunity to receive a repayable, one-week transitional advance to assist you with the conversion from a semimonthly to a biweekly pay cycle. Those choosing this transitional advance, will need to pay the amount back in 7 installments between August 3 and October 26. The transitional advance form is found below.
Brown Bag Sessions
Employees affected by the biweekly payroll cycle change are invited to attend a brown bag session with StrategicPoint Investment Advisors. Consultants from StrategicPoint will review budgeting tools and strategies to help you manage your budget through this transition. Sessions are scheduled for June 5th from 12-1:30 PM in the Chancellors Dining Room and June 12th from 2-3:30 PM in Dining Rooms 8&9 at the Sharpe Refectory. Click here to register for one of these sessions.