6033 - Deferred Payments

The District offers an option to employees covered by collectively negotiated agreements, and by policy, to employees who are not covered by collectively negotiated agreements, of twenty-one or twenty-six pays for ten-month employees. Those ten-month employees who opt for twenty-six pays are required, in accordance with the Internal Revenue Code, to make an election in writing prior to the beginning of the school year to indicate that they have chosen the deferred compensation of twenty-six pays. The election shall be made by submitting a signed form to the Business Office by no later than June 15^th of the preceding school year or through an electronic form submission to the Business Office by the same date. For new hires employed after June 15^th of any school year, the election must be made prior to the employee's receipt of his/her first pay check.

Adopted by Board of Education: August 9, 2011