Bonus Payments Outlined
Posted: August 23, 2002 at 1:00 am, Last Updated: November 30, -0001 at 12:00 am
All eligible George Mason employees will receive bonus payments before Sept. 16. All scenarios are described below.
All 9- and 12-month faculty members, both instructional and research, will be paid a bonus on Sept. 16, the first pay date of the new academic year. The amount of the bonus will be determined by the dean or director of the unit.
Classified employees hired prior to May 1, 2002, were asked to choose a 2.5 percent bonus, 80 hours compensatory leave, or a 1.25 percent bonus and 40 hours compensatory leave. Employees who selected the leave option or the leave and bonus were awarded leave July 1. The leave does not appear on pay stubs–it is listed on the timesheet attachment under Recognition Leave. Employees who selected cash will receive the bonus on Aug. 30.
Employees hired between Oct. 1 and Dec. 31, 2001 will receive 75 percent of the bonus. Employees hired between Jan. 1 and March 31, 2002 will receive 50 percent. Employees hired between April 1 and April 30, 2002 will receive 25 percent. Bonuses are calculated on base pay and do not include amounts paid as temporary pay or stipends.
Administrative faculty members were not eligible for the leave option. The 2.5 percent bonus is calculated on the base salary as of June 24, 2002, and will be paid on Aug. 30.
Adjunct faculty members and graduate teaching and research assistants employed during the spring 2002 semester are eligible to receive a 2.5 percent bonus. The bonus is calculated on their salary for the spring semester, and will be paid Sept. 16.
Bonuses will be combined with regular pay, and federal and state taxes will be withheld at the normal tax rate. Bonus payments may be tax deferred by participating in the 403(b) tax sheltered annuities or the state’s 457 Deferred Compensation Plan (DCP).
For more information, contact a Human Resource generalist or benefits administrator at (703) 993-2600.