As we approach the end of the month, the West Virginia University Payroll and Benefits Strategy teams are reminding employees of annual increment payments later this week, as well as two upcoming changes to paychecks on July 29.
Annual Increment Pay
WVU will issue the annual increment pay to qualifying employees with three or more years of state-qualifying service on Friday (July 22). The annual increment amount is $60 for each full year of qualifying service.
The payment will be electronically deposited into the employee’s primary bank account. The following deductions will be taken out of the annual increment pay:
Retirement – 6%
FICA (Social Security) – 6.20%
MED (Medicare) – 1.45%
Federal Taxes – 22%
State Taxes – West Virginia, Maryland, Kentucky, Virginia and Ohio – 3%
State Tax – Pennsylvania – 3.07%
Deduction Holiday Pay
Paychecks next Friday (July 29) will be a third paycheck in the month of July for WVU employees. For 12-month, benefits-eligible employees, this will be considered a “deduction holiday pay.”
For the deduction holiday pay, there will be no benefit deductions withheld (only mandatory taxes and retirement deductions). Deductions from the deduction holiday pay for 12-month employees include:
Federal taxes
State taxes
Social Security
Medicare
Retirement
Supplemental retirements
For benefits-eligible employees who are working fewer than 12 months (e.g., faculty members with nine-month contracts), the deduction holiday pay occurs on the employee’s first and last pay during their contract period.
2022 WVU Compensation Program Pay Increases
Any pay increases for 12-month employees as part of the 2022 WVU Compensation Program also will be reflected in pay statements dated July 29.
It should be noted that due to the deduction holiday pay on the July 29 paycheck, future pay statements likely will reflect a different amount.
Full increases for nine-month employees as part of the 2022 WVU Compensation Program will be reflected in pay statements dated Sept. 9.
Visit the Payroll website for more information and to view the 2022 pay schedule.
If you have questions regarding payroll calculations, contact the Payroll team at payroll@mail.wvu.edu. If you have questions regarding years of service, contact the Benefits Strategy team at benefitsbilling@mail.wvu.edu. Questions related to the 2022 WVU Compensation Program may be directed to the Compensation team at compensation@mail.wvu.edu or 304-293-5700 ext. 6 or to your HR Partner.