Two-Semester Faculty
Appointment
Salary Override Calculation
Upon Separation
Determine Date of Separation
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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)
Determine Base Salary
• Determine annual base salary
• Multiply annual base salary times 50% (to
ascertain base salary for one primary
semester)
2014-2015 AY Two-Semester
Payoff Schedule
Semester
Day
Last Day Worked
Day#
Due *
Spring
Mon
1/12/2015
1
1/73rd
Spring
Tue
1/13/2015
2
2/73rd
Spring
Wed
1/14/2015
3
3/73rd
Spring
Thu
1/15/2015
4
4/73rd
Spring
Fri
1/16/2015
5
5/73rd
Spring
Mon
1/19/2015
HOLIDAY
HOLIDAY
Spring
Tue
1/20/2015
6
6/73rd
Spring
Wed
1/21/2015
7
7/73rd
Spring
Thu
1/22/2015
8
8/73rd
Spring
Fri
1/23/2015
9
9/73rd
Spring
Mon
1/26/2015
10
10/73rd
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
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
Sample Calculation
Example 1
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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
Sample Calculation
Example 1(cont’d)
1.
2.
3.
4.
5.
$100,000. * .50 = $50,000.
$50,000. / 76 days = $657.89 per day
$657.89 * 76 days worked = $50,000.
$100,000. / 12 mos = $8,333.33 per
month
$8,333.33 * 3 mos = $24,999.99 paid
Sept. through Nov.
Sample Calculation
Example 1(cont’d)
6.
7.
Fall semester total salary due =
$50,000. – $ 24,999.99 (salary paid
Sept. through Nov.) = $25,000.01
(salary due for fall semester)
$25,000.01 faculty salary override in
Dec.
Sample Calculation
Example 2
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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
Sample Calculation
Example 2 (cont’d)
1.
2.
3.
4.
$100,000. * .50 = $50,000.
$50,000. / 73 days = $684.93 per day
$684.93 * 34 days worked = $23,287.62
$100,000. / 12 mos. = $8,333.33 per
month
6. $8,333.33 * 5 mos. = $41,666.67 paid
Sept. through Jan.
Sample Calculation
Example 2 (cont’d)
6. Fall semester total salary due = $50,000.
– $41,666.67 (salary paid Sept. through
Jan.) = $8,333.33 (salary due for fall
semester)
7. $8,333.33 + $23,287.62 = $32,620.95
faculty salary override
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
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
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