Please review the following information related to upcoming salary/bonus amounts and payout dates.
March 22nd Paycheck – Your Best and Brightest bonus funds will be included. This is in addition to your normal biweekly pay.
April 19th Paycheck – Your new adjusted biweekly salary will be reflected in your paycheck; based on the recently settled contract negotiations.
May 3rd Paycheck – Your retroactive lump-sum raise, dating back to the start of the school year will be included in your paycheck. This is in addition to your normal biweekly pay.
Important facts to understanding your Best and Brightest Payout
1. Since these monies are state awarded (not local district) the employer payroll taxes are not paid by the local school district. Furthermore, since the state legislature does not include funding to cover the employer payroll taxes in the Best and Brightest budget appropriations, they (the state) withhold the employer portion of the payroll taxes from your payouts. So while the bonuses are advertised as $6,000, $1,200, and “up to $800″…those amounts are reduced before given to educators in order to pay the federally mandated, employer payroll taxes.
2. In accordance with the “up to $800” Effective bonus, due to higher than anticipated recipients of the $6,000 SAT/ACT and $1,200 Highly Effective payouts…the “up to $800” provision kicks in and waters down the Effective bonus payout. Instead of $800, this year the Effective payout is $709.41.
3. Review the table below to see the actual bonuses awarded, the employer payroll taxes that are deducted off the top before educators ever receive the bonuses, and the Gross amount received from the state. If you wish to see your true take-home dollar amounts (once all taxes are removed), visit PeopleSoft on the SDPBC website and look at your most recent pay-stubs. The pay-stubs for your next paycheck (tomorrow) are already posted in PeopleSoft. The Best and Brightest bonus funds are in their own independent paycheck, separate from your normal biweekly pay.
Email questions can be directed to email@example.com.
If employees want to speak to someone, they should call the HR Customer Care Center at 434-8777 (PX 48777).
Specific tax questions can be directed to firstname.lastname@example.org.