Save for Summer is a program that allows employees working in a less than a 12-month annual work period to elect a flat dollar amount to be deducted from their net pay each month. The balance in the program is then paid over the summer month(s) when not working.<\/p>\n\n\n\n
The amount withheld from the net pay is after all deductions, including insurances, TRS\/ORP, FICA, FIT, etc. <\/p>\n\n\n\n
Save for Summer deductions continue until cancelled. Re-enrollment is not required each fiscal year. Employees may enroll after September 1 each year but will begin participation with the next available pay period. There is no \u201ccatch up\u201d option for any expired or previous portion of the fiscal year. <\/p>\n\n\n\n
For example, if you are in a 9-month position, paid on the monthly pay cycle, and choose to have $1,000 deducted each month beginning the first monthly payday would have $9,000 as your Save for Summer balance as of 5\/31. Your pay would be $3,000 for the months of June, July and August. Since the amount was deducted from your net pay, no insurance\/taxes are deducted on the Save for Summer payout. <\/p>\n\n\n\n