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- Your retirement date - its definition and implications
- Payment schedules and amounts due
- Tax withholding
- Retirement contributions
Please feel free to call or write with any questions:
Corey Lehr, Director of Payroll & Employee Information Services
ML 0001
556-2467
corey.lehr@uc.edu
Ruth Bolus, Manager of Payroll
ML 0001
556-2467
ruth.bolus@uc.edu
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Faculty Compensation Illustration
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$90,000 Annual Salary, Academic Year Appointment
10-Payment Schedule
- $9,000/month, from September through June
- 3 1/3 payments provide compensation each quarter
- Retirement date between autumn and winter quarters results in 1/3 of a
month's pay due on 12/31, regardless of retirement date (i.e., 12/15/05,
12/31/05, 1/2/06, etc.), though date determines benefits coverage and when
lump sum payments are issued.
- Retirement on 9/1 provides employment status, and benefits coverage
through August, though payments completed by 7/1.
12-Payment Schedule
- $7,500/month, from September through August
- 4 payments provide compensation for each quarter
- Retirement date between autumn and winter quarters results in a full
month's pay due on 12/31; again, however, the date determines benefits
coverage and terminal payment date.
- Retirement on 9/1 provides same employment status and benefits,
regardless of payment schedule, but in this case, payments are not completed
until 9/1.
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