Receiving Pay During Non-Contract Months
How to get paid during the summer months.
Employees who work less than 12 months of the year but want to receive their salary during their non-working months can do either of the following:
- You may transfer funds via direct deposit to a savings plan of your choice. You can designate a flat dollar amount to be withheld from each regular payment and transferred to the financial institution of your choosing. This allows you to earn interest on your money and save for your own summer pay. Then you withdraw your money when you need it. This savings plan option is available in addition to the current options to have a flat amount direct deposited to the Apple Federal Credit Union (FCU) and your net pay direct deposited to your primary bank account.
- Apple FCU has introduced a new summer pay program, open to all FCPS employees, to set aside money from their pay during the school year to be paid in the summer months. This program can be used as a replacement for the FCPS summer fund program. For more information, call Apple FCU at 703-788-4800 or visit Apple FCU online at www.AppleFCU.org/SummerPay.
Tips on determining how much to set aside each pay period
- Each person’s financial situation during the year and needs during the summer months may be very different.
- For monthly paid 10-month employees, 16.66 percent (for 11-month employees, 8.33 percent) of net pay monthly will yield nearly the same amount of pay in July and August as you receive throughout the year.
- Biweekly paid 10-month employees should plan on 13.33 percent and 11-month employees should use 8.33 percent.
- You may wish to use the FCPS Paycheck Modeling Tool available through UConnect. Please remember that these tools are for informational purposes and should be used as a guide only. Your decision on how much to save should be based on your personal circumstances.