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File: GBC – E2
NOTICE OF HOW EMPLOYEES WHO WORK LESS THAN 12 MONTHS ARE TO BE PAID
This notifies (name of employee) that Buena Vista City school division requires him or her to be paid over 12 months regardless of the fact that he or she will actually work over a shorter time period. Specifically (name of employee) will receive (school division should choose one of the following).
12 equal monthly payments of (dollar amount of each payment) beginning on (date)
24 equal by-monthly payments (or 26 equal payments every two weeks) of (dollar amount of each payment) beginning on (date).
In the event that a separation from service occurs before the end of the 12-month payment period, (name of employee) will be entitled to an additional payment for the amount actually earned from the beginning of the 12-month pay period until the date of separation from service which has not yet been paid. This additional payment will be included in the employee’s final paycheck. For this purpose, “separation from service” has the same meaning as that term is defined in section 1.409A-1(h) of the Treasury Regulations.
Adopted: 6/26/08
© 6/08 VSBA |