Message regarding bonuses| October 20, 2010
Vice President for Administration Anna B. Martin sent the following message regarding bonuses to the campus community on Oct. 20, 2010 - Ed.
The Governor and General Assembly have approved a uniform bonus of three percent for all salaried employees in the state including classified, operating, instructional faculty, and professional and professional faculty at the College.
As a result, all full- and part-time salaried employees who were employed at the College on June 30, 2010 and who are still employed on December 1, 2010 will receive the bonus. The bonus will be included in the December 1, 2010 paycheck and not in a separate check. The amount of the bonus payment will be based on each employee’s base salary as of December 1, 2010. There is no performance requirement for an employee to be eligible for the bonus.
While excluded by the State, the President has made a decision to grant the bonus to hourly employees who have worked a minimum of 1000 hours during the period from November 1, 2009 to October 31, 2010 and who are still employed on December 1, 2010. The bonus will be based on the total wages earned during this period.
Employees who receive a bonus payment on December 1, 2010, and who participate in the state’s 457 Plan or a 403(b) plan with TIAA/CREF or Fidelity may contribute all or some of their bonus to their respective tax sheltered annuity plan in order to defer state and federal income tax on the bonus. Detailed information is available on the Office of Human Resources website at http://www.wm.edu/offices/hr/?svr=web
The Department of Human Resources Management has provided a list of Bonus FAQ’s that may be viewed on the following website: http://www.dhrm.state.va.us/compensation/faqsForDec2010Bonus.pdf.
Please contact the Office of Human Resources if you have questions or need additional information.