Single payroll – moving from monthly to bi-weekly
As a reminder, as UW System previously discussed with all governance groups and provided in the HR&D newsletters, as well as the Bridging the Gap HR event, all employees who are paid monthly will be moved to a bi-weekly payroll schedule in July. The last monthly payment for the partial work period ending July 17, 2021, will be prorated and paid on Friday, July 30, 2021. Effective July 18, 2021, payroll payments will transition to a bi-weekly pay schedule, payable every other Thursday. The first bi-weekly payment will be payable on August 12, 2021 and cover the working period of July 18-31, 2021. Most benefit deductions will be split evenly over two bi-weekly paychecks each month, starting with the August 26, 2021 paycheck. The plan is not to include deductions during the months when there are three payroll checks. For more information regarding the single-payroll process, see https://uwservice.wisconsin.edu/single-payroll.php.
Moving to a single payroll, employees are advised to plan ahead. Employees may want to address tax-sheltered annuity and Wisconsin Deferred Compensation contributions. This can be changed to a percentage and, if it is currently a percentage, it may not need to be changed. Employees may want to review whether or not tax withholdings should be changed and if direct deposits and automatic payments should be changed.