How will the change in pay frequency affect my general deductions (i.e. Credit Union Deductions, Savings Bond Deduction, Charitable Contributions, Foundation Deduction, etc.)?
For Exempt employees: Now that you are paid monthly, your current deduction will be doubled to the monthly amount and withheld accordingly. For non-Exempt employees: The deductions will continue to be taken twice per month. For a month that has 3 pay periods, deductions will not come out of the 3rd pay check. (The August 29th pay period will be the exception to this rule because there is only one pay period in July). Your parking and recreation deductions will be divided by 26 pay-periods instead of 24, so you will notice a slight reduction per pay check for this deduction.
