Two-Semester Faculty Appointment Salary Override Calculation Upon Separation

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)

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 Day Last Day Worked Day# Due * Spring Mon 1/09/2017 1 1/73rd Tue 1/10/2017 2 2/73rd Wed 1/11/2017 3 3/73rd Thu 1/12/2017 4 4/73rd Fri 1/13/2017 5 5/73rd 1/16/2017  HOLIDAY 1/17/2017 6 6/73rd 1/18/2017 7 7/73rd 1/19/2017 8 8/73rd 1/20/2017 9 9/73rd 1/23/2017 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 Primary semesters – Fall and Spring Date of Separation – 01/01/2017 AY base salary – $100,000. 76 work days – fall semester 76 days worked – fall semester

Sample Calculation Example 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.

Sample Calculation Example 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.

Sample Calculation Example 2 Primary semesters – Fall and Spring Date of Separation – 02/24/2017 AY base salary – $100,000. 73 work days – spring semester 34 days worked – spring semester

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.

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

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