1. Credit Union Deductions
Changes are made only when the business department receives authorization from the credit union. Adjustments that individuals need to make due to errors in deductions must be handled directly with the credit union.
When employees receive notice from the clerk of court that wages are to be garnished for taxes or child support, they should expect the deductions from their pay to begin as early as the next pay check. The payroll department will not discontinue deductions until the full amount has been deducted or until the tax collector's office or the clerk of court sends an authorization to discontinue deductions. When direct payment to the "garnisher" by the employee results in overpayment, the employee must contact the "garnisher" for a refund.
The Board of Education's portion of employees' hospitalization insurance (for the individual employee) is $6,104 per year. Additional coverage information may be obtained from the Health Benefits Representative (Francisco Diaz).
Presently, employees may make changes to their 401k deductions throughout the year. Changes to begin in August must be received by August 15th from Prudential. Changes to begin in January must be received prior to the Christmas holiday. Changes are made only when authorization is received from Prudential in writing. Submit changes through website at www.ncplans.prudential.com
5. Tax Sheltered Annuities
The current policy requires TSA companies to have at least 30 contracts for payroll deductions. New contracts must be dated after July 1st and must be presented to the Board of Education at least 30 working days prior to the first payroll. Contact Francisco Diaz at 910-296-6651 for eligibility requirements.
6. Dental Insurance
There is one enrollment period allowed by the Board of Education each year, provided the company can offer the plan to additional employees. Once the enrollment period has ended, no employee can add this payroll deduction except those employed after the enrollment period. They have 30 days from the date of employment to enroll. No changes can be made during the year for payroll deductions for the dental plan, unless there is a family status change. The premium for the two summer months' dental insurance is deducted throughout the year from checks for employees who receive ten checks.
7. Combining Employment and Teacher Assistants Who Drive Buses
(Note: Other combined positions are subject to these same procedures.)
No employee may be placed in positions that result in the earning of overtime expense without prior approval of the Superintendent. Audit exceptions will be issued and refunds requested when expenditures result from the employment of personnel already employed without the Superintendent's prior approval.
ONCE PRIOR APPROVAL HAS BEEN OBTAINED :
Individuals who work as teacher assistants and also drive a bus are paid from three different sources of funds and two different salary schedules. They must complete a time sheet for each job.
No overtime pay is earned unless the combined hours worked in both positions exceed 40 hours in a workweek.
The first pay-period worked, these individuals will receive the straight monthly salary for a teacher assistant. The following month, the first pay period time sheets will be used to compute the actual earnings and this will constitute the pay received during the second pay period. Each month thereafter, this will allow payments based on actual time and prior month adjustments and revised time sheets will not have to be dealt with. The last pay period worked, the paycheck will have to be written after the time sheets are turned in so that a total reconciliation of all salary earned can be completed. PRINCIPALS SHOULD INSURE THAT THESE INDIVIDUALS TURN IN TIME SHEETS ON A TIMELY BASIS (3RD DAY OF THE MONTH FOLLOWING THE TIME WORKED) AND THAT THE TIME SHEETS REPORT ACTUAL TIME WORKED IN EACH POSITION.
8. Fixed Assets
All employees should be reminded of their responsibility for the fixed assets assigned to them. Sheets are to be completed and signed per the Fixed Assets Accounting Procedures in the Budget Manual .
On-site reviews/audits will be conducted during the year for local school accounting procedures, including fixed assets.
10. Payroll Reminders
Federal Minimum Wage is $7.25 per hour
Matching Social Security is 7.65%
Matching Retirement is 18.86%.
11. Cafeteria Benefits Plan (Section 125 Plan)
The Board of Education has approved a Section 125 Plan under the IRS guidelines. An administrator has been approved for the plan and conducts counseling and enrollment sessions for employees who wish to participate. The plan allows employees to make certain types of payroll deductions tax exempt. Some of these are dental insurance, cancer insurance, unreimbursed medical expenses, and child and dependent care. Current employees can only join the plan during the enrollment period each spring. New employees have 30 days to notify the School Business Administrator of their desire to join.
Section 125 enrollments are considered by the IRS to be a one year salary redirection contract and changes are not permitted except under defined situations.