HR, Payroll and Benefits News
UW System Announces Payroll Schedule and Benefits Deduction Changes
January 27, 2021
UW System will be changing the paycheck frequency for employees who are paid monthly and splitting benefits deductions between biweekly paychecks for all employees.
When This Change Will Occur
For Employees Who Are Paid Biweekly:
- Most deductions for benefits such as health, dental, vision, and life insurance will be split evenly over the first two biweekly paychecks each month starting with your April 22, 2021, paycheck
- In months when there are three paychecks, benefits deductions will not be taken from that paycheck with the exception of Wisconsin Retirement System, Tax Sheltered Annuity 403(b) and Wisconsin Deferred Compensation 457 contributions
For Employees Who Are Paid Monthly:
- On July 30, 2021, you will receive a partial monthly paycheck for days worked between July 1-July 17
- Starting August 12, 2021, you will begin receiving biweekly paychecks every other Thursday (except on Legal Holidays)
- Most deductions for benefits such as health, dental, vision, and life insurance will be split evenly over the first two biweekly paychecks each month starting with your August 26, 2021, paycheck
- In months when there are three paychecks, benefits deductions will not be taken from that paycheck with the exception of Wisconsin Retirement System, Tax Sheltered Annuity 403(b) and Wisconsin Deferred Compensation 457 contributions
What You Need to Do
- If you have automatic payments set up (for example, mortgage, car loan, utilities, etc.) review your monthly budget and prepare for biweekly paychecks and split benefits deductions. You may want to adjust your automatic payments to match your biweekly paycheck amounts.
- If you have payroll deductions that are flat dollar amounts (for example, Tax-Sheltered Annuity (TSA) 403(b), Wisconsin Deferred Compensation (WDC) 457, additional tax deductions, direct deposits into multiple accounts, etc.), you may want to change these amounts.
- You can update your direct deposits on the MyUW Portal https://my.wisconsin.edu.
How You Can Learn More
Visit the payroll change website that corresponds to your current pay schedule to get FAQs, Personal Budget Planning Seminars, Town Hall Meeting Schedule, and Paycheck Schedule.
Source: UW-Shared Services, Service Operations
Categories: Payroll