MIT is increasing its pay frequency for faculty, salaried staff, graduate students, and fellows—transitioning from a monthly to a semimonthly schedule in April 2018.
With this change, there will be two pay dates per month—on the 15th of the month and on the last day of the month. If either falls on a weekend or holiday, the pay date will be the business day that precedes that weekend or holiday.
March 2018 will follow the usual monthly schedule. The pay date will be March 30, 2018.
The pay date for April 2018 will be divided into two payments—Friday, April 13, and Monday, April 30. In other words, half of the monthly amount will be paid earlier than in the monthly schedule.
There will be no change to total monthly pay, tax withholdings, or benefit deductions. Current payroll withholdings and deductions will be evenly divided between the two semimonthly pay periods, except for the Commuter Rail and Vanpool deductions, which will be deducted at the end of the month only.
Please note that semimonthly pay (twice monthly) is not the same as biweekly pay (every two weeks). The transition to semimonthly pay will result in 24 pay dates per year instead of the current 12 pay dates per year.
This change does not affect those who are paid weekly. Hourly employees will continue to be paid on a weekly basis.
Review Semimonthly Pay Schedule FAQs.
Why the change?
The semimonthly pay schedule aligns with payroll best practices. The current monthly pay schedule can be difficult for individuals coming to MIT from an institution or business with a more frequent pay cycle. In addition, the new pay cycle will result in earlier pay each month and more frequent contributions to your 401(k).
The transition to the semimonthly pay cycle includes reviewing and modifying systems, feeds (e.g., benefits), interfaces (e.g., Atlas), applications, and reports, and revising policies and procedures to reflect the new pay frequency.
Information on the transition to the new pay schedule will be sent to faculty, salaried staff, graduate students, and fellows in a variety of ways during the next few months. Several information sessions will be held on campus, and updates will be posted on the VPF website and AdminConnect.
- Glen Shor, Vice President for Finance
- Chris Durham, Assistant Director, HR/Payroll and Merchant Services, Office of the Vice President for Finance
- Robin Elices, Executive Director, Office of the Executive Vice President and Treasurer
- Eamon Kearns, Senior Director, Emerging Solutions, Information Systems & Technology
- Danielle Khoury, Controller, Office of the Vice President for Finance
- Magdalene Lee, Assistant Director, Office of Major Agreements
- Robin Lemp, Director, Office of Major Agreements
- Gerry O’Toole, Director, Financial Operations, Office of the Vice President for Finance
- Frank Quern, Manager, Community Partnerships, Information Systems & Technology
- Wayne Turner, Director, Technology, Human Resources
- Doug Walsh, Project Manager, Information Systems & Technology