SECTION ACD/EP:
This section is used ONLY when Contract pay is requested (see Comp Frequency). To qualify for either option the employee must be in a salaried/exempt position. This option is most often used for state-appropriated (fund 1001) faculty salaries. The fields in this section are used to define the contract parameters, including Earnings Period and Payment Terms. There are two contract options; namely, Academic Earnings/Pay and Exact Pay. Academic Earnings request a payment period that is different from the earnings period. Academic Earnings/Pay is only available for faculty positions. Exact Pay requests a set amount to be paid over a set period where earnings and pay dates are the same. This option is generally used for short, relatively small contract payments.
Academic Earnings / Exact Pay options are found in the pull-down menu on the electronic PAN as follows:
| Exact Pay
| (Use when payment and earnings periods are identical)
|
| Fac 1/3
| (Faculty: one month of earnings paid over three months)
|
| Fac 10/12
| (Faculty: ten months of earnings paid over twelve months)
|
| Fac 11/12
| (Faculty: eleven months of earnings paid over twelve months)
|
| Fac 2/12
| (Faculty: two months of earnings paid over twelve months)
|
| Fac 3/6
| (Faculty: three months of earnings paid over six months)
|
| Fac 9/12
| (Faculty: nine months of earnings paid over twelve months)
|
| Faculty/Other
|
|
Academic/Exact Pay Begin and End Dates are fields that designate the period over which pay is earned. With Exact Pay the earning period will be the same as the payment period. With other selections, the earnings period will be shorter than the payment period.
Payment Term options are found in the pull-down menu as follows:
| Other Pay over X months
| (Use for all other situations)
|
| Pay over 12 months
| (Use whenever contract payment will extend for the full year)
|
| Pay over contract
| (Must be used for exact pay)
|
Payment Begin and End Dates are fields to designate the period over which earnings are paid.
