Bi-Weekly Payroll FAQ

  1. Do I need to change my retirement plan- 403(b) or 457(b) - deduction amounts in FITSCoor Fidelity NetBenefits before I receive my first biweekly paycheck October 1?

No. You do not need to change your flat or percentage amounts in FITSCo. If you have a flat amount currently deducted from your paycheck, the system will automatically deduct half the amount you have on record in FITSCo each bi-weekly payroll, 24 times per year.

If you have a percentage amount on record in FITSCo, that percentage is deducted every time you are paid including special checks such as IAP (Incentive Reward Program or SRD (Staff Recognition Development).

  1. Why would I want to change my 403(b) or 457(b) flat or percentage amount before biweekly payroll begins October 1?

You many want to change your deduction amounts if you would like to have fewer deduction dollars taken on your first biweekly pay check on October 17 or any subsequent pay checks. The link to FITSCo is:

  1. Once I make a deduction change in FITSCo to my flat or percentage amount, when will I see the change in my pay check?

For 403(b) changes, you must make the change in FITSCo before the end of the previous month to have the change effective the following month. So, to see a change on your first biweekly pay check on October 17, you must make a change online to your plan by close of business on September 28, 2007.

For 457(b) changes, you must make the change in FITSCo two months in advance according to IRS rules. So, to see a change on your 457(b) deduction on your first biweekly pay check on October 17, 2007, you must make a change online to your plan by close of business on August 30, 2007. A change made between September 1 and 28 would become effective on the pay check of November 14, 2007

  1. Will 403(b) and 457(b) deductions be taken from the deduction “holiday” pay checks that will occur three times in 2008 (January 9, June 11, and December 10)?

If you have a flat amount deduction in either plan, there will be no deduction on these pay checks. If you have a percentage deduction in either plan, the percentage WILL be deducted from these pay checks. Percentage deductions are taken every time you are paid, including special checks such as IAP or SRD.

  1. If I currently have a flat amount or additional deduction for federal or state taxes, do I need to make any changes to my flat amount?

No, you do not need to make a change. The system will split the amount that you have on record between your two biweekly pay checks. If there is a third pay check in a given month (referred to as a deduction “holiday” pay check), the flat amount will NOT be deducted. The flat amount for taxes is treated as any other ‘fixed-amount’ deduction in the system. The link to make changes to your taxes is:

  1. When will union dues be deducted from my pay check?

Union Dues and Fair Share is a percentage of your gross pay. Some Union Dues and Fair Share amounts have a

cap each month (e.g. AFSME is $51.78 per month). Depending on how much you earn each pay period, a large portion of your dues may be taken during the first biweekly payroll of the month with the remainder taken on the second payroll.

  1. What is the cut-off date to see a change in my 403(b) plan contribution on my check?

Changes made in FTS by the Thursday before the upcoming pay date will be reflected in that period’s pay check.

  1. What is the cut-off date to see a change in my 457(b) plan contribution on my pay check

By an IRS ruling, it takes two months to see an FTS contribution change on your pay check.

  1. How can I calculate my annual salary?

To calculate your annual salary, multiply your hourly rate on your pay stub by 2088 hours.