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Since last fall, HR has been involved in training and preparation for the implementation of Banner, the new administrative system that is replacing Aims. Banner will maintain employment, salary and benefit information for all current faculty, staff and students, and will be used to issue all paychecks. The new system is scheduled to “go live” on January 1, 2012.

As part of the implementation process, we are in the process of auditing EVERY aspect of pay and benefits for all full and part-time faculty and staff. As a result, we are discovering discrepancies in vacation accruals and/or benefits enrollment for some individuals. We will contact affected individuals to advise of the error(s) and the correction as soon as possible.

As with all new systems, there will be changes to how we manage information and data. Banner has a number of new features that we will utilize—as well as some limitations—and starting today we will share with you the changes that may affect your paycheck, benefits, and/or related information. We want to alert you to these changes now so that you can begin to plan for any changes that may impact how you manage your personal finances.

Effective with the first paychecks issued in January, 2012, the following changes are being made.

Deductions for bi-weekly paid staff will be taken as follows:

First Paycheck

health (one-half)
dental (one-half)
vision
life
FSA (onsite childcare/one-half)
FSA (non-onsite dependent care/one-half)
FSA (medical/one-half)
long term disability (LTD/one-half)
accidental death & dismemberment (ADD)
gifts
imputed income (taxes owed on the value of life insurance)

Second Paycheck

health (one-half)
dental (one-half)
pension
supplemental retirement
FSA (onsite childcare/one-half)
FSA (non-onsite dependent care/one-half)
FSA (medical/one-half)
long term disability (LTD/one-half)

Premiums for all benefits will be deducted evenly over 9 or 12 months only. This means that if you are currently paid on a 9 months basis, your deductions will take place over 9 months; if you are paid on a 10 or 11 months basis, your deductions for all benefits will be taken over 9 months. Everyone paid over 12 months will have premium deductions taken over 12 months.The following changes affect all faculty and staff.

Flexible Spending Accounts (FSA). As with all other benefits, FSA for childcare and medical expenses will be set up on a 9 or 12 months basis only. This means that if you are currently paid on a 9 months basis, your deductions will take place over 9 months; if you are paid on a 10 or 11 months basis, your deductions for all benefits will be taken over 9 months. Everyone paid over 12 months will have premium deductions taken over the 12 months.

Life Insurance. The IRS taxes the value of all life insurance that exceeds $50,000. In the past, this tax, which is called imputed income, was taken in one lump sum in December paychecks. With Banner, we are able to withhold this tax on a monthly basis; consequently, the tax will be spread evenly over 12 months instead of all at once.

We will advise of other changes in future issues of HR News !!

***Payroll Deadlines***

To ensure that monthly paid faculty and staff are paid correctly, all paperwork, including benefit enrollment and stipend forms, must be received in HR or Payroll no later than the dates shown below:

August 19 for the August 31 paycheck

September 20 for the September 30 paycheck

Calendar of Events

New Staff Orientation:

  • Monday, August 8 9:00 am – 11:30 am Madison House, Room 104
  • Monday, August 22 9:00 am – 11:30 am Madison House, Room 104

New Faculty Orientation

  • Wednesday, August 24 noon – 4:00 p.m. Brothers College

Labor Day

  • Monday, September 5 University Holiday
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