Home / Financial Policies / 2402 Earned Compensation - Exempt Monthly-Paid

2402 Earned Compensation

Exempt Monthly-Paid

Document purpose

To establish the period over which staff in exempt monthly-paid positions/on Salary Compensation Plans earn compensation (i.e., annual base salary paid by the University). NOTE: Staff in exempt monthly-paid positions/on Salary Compensation Plans occupy positions that are determined to be exempt from (i.e., not subject to) overtime, based on the provisions of the Fair Labor Standards Act (FLSA).

effective

July, 2017

Reviewed

May 2023

Responsible Office

Human Resources

Approval

Human Resources

Policy

  1. Annual base salary is earned and paid over the fiscal year in twelve equal monthly payments. 

  2. Compensation changes due to promotions, reclassifications, compensation changes, or merit increases are considered incremental increases to the annual salary and are paid in each subsequent month at a rate equal to one-twelfth of the increase amount. 

  3. The Division of Human Resources/Compensation is responsible for determining whether a position is exempt (monthly-paid) or non-exempt (weekly-paid). 

  4. Exceptions to any of the above points must be approved, in advance and in writing, by the Executive Director, Division of Human Resources/Compensation.