CU Denver Campus 9-Month Contract Faculty Pay Changes starting AY 2022-23

The election form will be available in the UCD Access Portal from May 2 – July 15, 2022 at 5pm.

Yes, if your academic year salary is not greater than $163,400.  Per Section 409A of the Internal Revenue code, you cannot elect to receive payment installments over a 12 month period if your base compensation for all 9 pay 12 contracts combined exceeds the federally established limit for compensation earned in one year but deferred until a future year.  The IRS limit for deferred compensation from 2022 to 2023 is $20,500, which translates to an academic year salary limit of $163,400.  The IRS limit may change annually.

Benefits and eligibility will not change.  Full insurance premiums will come out of partial month pay in August and May.  Do keep in mind that if you have a set amount of pay taken out for a voluntary deduction (retirement, FSA, etc.) or additional tax withholding, that set amount will continue to come out of each paycheck.

Faculty are still eligible for summer pay up to the limits of 1/9 of AY salary per month, totaling 3/9 of AY salary during summer.  Summer will run mid-May through mid-August.

You will receive the full last paycheck from your AY 21-22 contract.  In addition, you will receive the first partial month paycheck for your AY 22-23 contract.  So, your pay in August 2022 will be higher than normal.

The system looks at working days per month and percentage of the total contract worked each month to calculate pay.  It also looks to pay equal amounts per month if there are complete months worked.  Pay calculators will be available soon.

Faculty promotional pay increases will continue to occur at the beginning of the academic year.

This change is only applicable for 9-month contract faculty.  We are looking to make a similar shift in pay dates for Lecturers and TAs/GPTIs as soon as possible, but timing depends on a HR system update.

 

Yes.  Employees will continue to be paid on the last business day of each month.  It is the amount paid on each pay date that will be changing.