Important Compensation Program Update - Lump Sum Payments
The 2018 Compensation Program provides for lump sum payments to those employees who have reached the maximum of their pay range. Based on new guidance from the Department of Labor/Wage and Hour Division, the bonus payments will be added to the regular check, instead of paid as a separate payment. The dollars will still be taxed at the bonus rate, per IRS guidelines. The payment will also be included in the calculation of pre tax retirement deferral deductions as well as the employer match.
By combining the payments with the regular check, the bonus dollars will be included in the calculation of the rate at which any overtime is paid in compliance with the Wage and Hour regulations.
If you have questions, please contact your supervisor or call Human Resources at 402-354-2200.