Important Notices

2019 W-2s were mailed from James Madison University on January 23rd to the address on file in MyMadison under the Employee tab, as of 1/17/20.

Topics of Interest
Less Than 12 Month Contracts

Example of 10 months paid over 12 months:

10 month salary = $40000.00

10 month salary divided by 20 pays = $2000.00 per pay

10 month salary divided by 24 pays = $1666.67

Contract begins August 25th

Rest Months = June 25th - August 24th

  Pay Periods Earned 10/10 Paid 10/12 Retained Earnings
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20


8/25–9/9
9/10–9/24
9/25–10/9
10/10–10/24
10/25–11/9
11/10–11/24
11/25–12/9
12/10–12/24
12/25–1/9
1/10–1/24
1/25–2/9
2/10–2/24
2/25–3/9
3/10–3/24
3/25–4/9
4/10–4/24
4/25–5/9
5/10–5/24
5/25–6/9
6/10–6/24
___________
 
$2,000.00
$2,000.00
$2,000.00
$2,000.00
$2,000.00
$2,000.00
$2,000.00
$2,000.00
$2,000.00
$2,000.00
$2,000.00
$2,000.00
$2,000.00
$2,000.00
$2,000.00
$2,000.00
$2,000.00
$2,000.00
$2,000.00
$2,000.00
___________
$40,000.00 
$1,666.67
$1,666.67
$1,666.67
$1,666.67
$1,666.67
$1,666.67
$1,666.67
$1,666.67
$1,666.67
$1,666.67
$1,666.67
$1,666.67
$1,666.67
$1,666.67
$1,666.67
$1,666.67
$1,666.67
$1,666.67
$1,666.67
$1,666.67
___________
$33,333.40 
$333.33
$333.33
$333.33
$333.33
$333.33
$333.33
$333.33
$333.33
$333.33
$333.33
$333.33
$333.33
$333.33
$333.33
$333.33
$333.33
$333.33
$333.33
$333.33
$333.33
___________
$6,666.60 
21
22
23
24



6/25–7/9
7/10–7/24
7/25–8/9
8/10–8/24
___________
 
 
      $0.00
      $0.00
      $0.00
      $0.00
___________
 
 
$1,666.67
$1,666.67
$1,666.67
$1,666.67
___________
 
 
 
-$1,666.67 
-$1,666.67 
-$1,666.67 
-$1,666.67 
___________
-$6,666.68 

        0.08

10-month Instructional Faculty Member (termed after 1st semester)

Less than 12 month Contracts

Example of Instructional Faculty - 10 months paid over 12
Termed after 1st Semester

 

10 month salary = $40000.00

10 month salary divided by 20 pays = $2000.00 per pay

10 month salary divided by 24 pays = $1666.67

Contract begins August 25th

Rest Months = June 25th - August 24th

  Pay Periods Earned 10/10 Paid 10/12 Retained Earnings
1
2
3
4
5
6
7
8


8/25–9/9
9/10–9/24
9/25–10/9
10/10–10/24
10/25–11/9
11/10–11/24
11/25–12/9
12/10–12/24
___________
 
$2,000.00
$2,000.00
$2,000.00
$2,000.00
$2,000.00
$2,000.00
$2,000.00
$2,000.00
___________
$16,000.00 
$1,666.67
$1,666.67
$1,666.67
$1,666.67
$1,666.67
$1,666.67
$1,666.67
$1,666.67
___________
$13,333.36 
$333.33
$333.33
$333.33
$333.33
$333.33
$333.33
$333.33
$333.33
___________
$2,666.64 


The academic year is divided into two semesters: Fall and Spring. Fall is the 1st semester, pay period dates running 8/25 – 12/24. Spring is the 2nd semester, pay period dates running 12/25 – 4/24. If an employee terms after the 1st semester (12/24), they are entitled to ½ of the salary. In our example, the employee should be paid a total of $20,000 for working ½ of the contract. The employee has been paid $13,333.36 and will be paid the additional amount of $6,666.64 as a contract buy-up.


10-month Instructional Faculty Member (who has been hired 2nd semester)
Pay Explanation

The academic year is divided into two semesters: Fall and Spring. Fall is the 1st semester, pay period dates running 8/25 – 12/24. Spring is the 2nd semester, pay period dates running 12/25 – 4/24. If you are beginning your employment in the 2nd semester, we will need to prorate your salary to carry you through the summer months of 4/25-8/24. The following is a list of steps we use to calculate your prorated salary:

  1. Divide your annual salary in half since you are only working half of the academic year. For example, if your salary is $65,000, you will use $32,500.

  2. Next, using the annual salary calculated in step 1, divide that number by 16 which is the total number of pay periods from 12/25 – 08/24 (Spring and Summer). This will give you your adjusted semi-monthly rate. Example: $32,500/16 = $2,031.25.

  3. Take the adjusted semi-monthly rate and multiply it by 24 to get the adjusted salary that will be keyed into the system. Example: $2,031.25 x 24 = $48,750. This will be the annual salary shown in the payroll system through 8/24.

Then effective 8/25, Payroll will bring your salary back to the full 10 month amount, which in this example would be $65,000. The $65,000 would then be paid out 8/25 – 8/24 of the following year in 24 equal installments. For this example your semi-monthly gross pay would become $2,708.33 ($65,000 divided by 24). For further clarification or additional information on your 10-month salary calculation, please contact your corresponding Payroll Transaction Analyst (visit our STAFF page).

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