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North Carolina General Statute GS

North Carolina General Statute GS-115-157 (5) requires that 10-Month School Employees be given an option of receiving checks in ten payments or twelve payments.

You MUST select the way you wish to be paid by completing the back of this form and returning a copy to your principal on or before August 18, 2009.  Principals will return your request to the payroll department on August 18, 2009.

Employees who have requested or will request a Leave-of-Absence for any part of this school year are not eligible for 12-month installments.  Employees who do not report for work on the first day of the 10-month school year are also not eligible.

Please read the provisions on this form carefully before making your choice.  A copy of Senate Bill 95 will be sent to you upon your request.  If you wish to have your payment remain the same as in 2008-2009, you are not required to sign the form unless you choose Option 3. Then we must have the form on or before the first day of school 8/18/09.  If you are new to the system and we do not receive the signed and completed form by August 18, 2009, your pay will be in ten monthly installments.  There will be no exceptions:  the employee must make this request on or before the first day of the school year 8/18/09.

 

Below is a description of the four options available.  Please note that only Options 1 and 2 result in the employee earning interest on their money.  With Option 3 all interest is retained by the State Treasurer's Office.

 

Option 1:       NewBridge Bank Summer Cash Account

NewBridge Bank's Summer Cash Account provides employees who are not paid on a 12-month basis with a structured way to save for summer paychecks.  During the working months, a portion of your paycheck is deducted and deposited into your Summer Cash Account.  You determine the amount deducted.   To be eligible you simply need to fill out the application form that will be provided when you select this option.

 

Option 2:       State Employees' Credit Union Summer Cash Account

SECU's Summer Cash Account provides employees who are not paid on a 12-month basis with a structured way to save for summer paychecks.  During the working months, a portion of your paycheck is deducted and deposited into your Summer Cash Account.  You determine the amount deducted.  Then, in the summer, funds from your Summer Cash Account will be automatically transferred into your checking or share account each month that you are not paid.  To be eligible, you simply need to be a member of the State Employees' Credit Union.   A membership account is simply a Share Account with a minimum deposit of $25.

There are no service charges with the SECU Summer Cash Account, and the interest is deposited into a share or checking account that you choose.  If you leave the school system, simply close the account and withdraw your funds, with no penalties.

Option 3:  State of North Carolina 12-Month Installment Plan

Pursuant to the provisions of GS-115-157 (5):

•1) Any 10 month employee may be paid in 12 installments provided the employee requests on or before the first day of the school year.  For the 2009-2010 school year, this request must be made on or before August 18, 2009.

•2) All school employees who are employed on the first day of school term and earn a full 10 months of salary may choose to receive their salary in ten or twelve payments.  The State Treasurer will earn the interest on your escrow for the 11th and 12th months.

•3) If an individual being paid on twelve installments resigns, retires, takes a leave of absence, or is otherwise separated from the unit, that individual must be paid in full on the next regular pay day.

•4) Social Security, Retirement, Federal and State Taxes will be withheld according to the amount actually paid in each check.

•5) This request is effective for one year only.

•6) This request cannot be changed during the school year and no emergency payments will be made.

•7) Deductions for hospitalization insurance and most other deductions will be made on a ten month basis.

•8) Eleventh and twelfth checks will not be released until the scheduled pay date for these checks in June and July. They will be on direct deposit.

9) Any adjustments for absences without pay will be computed on the 10 months salary amount.

Option 4:  No installment plan

All ten month employees are welcome to choose no installment plan and to take their pay in ten (10) equal paychecks through the school year.

Form For Ten Month Employee Salary Payment Selection for 2009-2010