Author Archives: anne.ellison1978

2024 Across the Board Raises, July Payday Details, and Increment Information

All Joint Committee employees will receive the Across the Board Raise of $2,900 effective July 1, 2024. Thus, July paychecks will be calculated as follows:

July 12th – will not have any salary increase on it as this is for time worked June 15 – 28th – Insurance premiums will be based on June salary.

July 19th  – Increment paycheck – employees with at least three (3) years of service as of June 30, 2024 will receive their increment check. Remember if your regular paycheck is divided between multiple accounts the increment check will also be distributed in the same manner. For example, an employee has $100 going to the State Credit Union and the remaining to United Bank, then that is how the increment check will also be disbursed.

July 26th – This check will have the increased gross pay due to the paycheck. Since July 1st is the first day of a pay period the new gross pay will be your new Annual Salary divided by 26.

August 9th – This check will have insurance premiums based on your July salary.

If you have any questions please contact me.

Londa M. Sabatino, CPA, CGFM

Fiscal Officer


Annual Increment Deferral – 2024

Staff:

If you have a minimum of three years of service as of June 30, 2024, you will receive an annual increment check on July 19th. Annual Increment is $60.00 per year of service (rounded down).

You are permitted to defer a portion of your Annual Increment Pay to the West Virginia Retirement Plus 457(b) Deferred Compensation Plan. You can elect to defer 20, 40, 60 or 80% of your Annual Increment. The annual maximum allowed to be deferred for Calendar Year 2024 is $23,000 or if over the age of 50 $30,500. You are responsible for ensuring that by deferring your increment pay you do not exceed these federal limits.

If you do not currently have a 457(b) Plan set up, you can still participate and open an account. Please contact the Fiscal Office or download the Participation Agreement from the Staff Webpage.

We need these forms returned to the Fiscal Office no later than Friday, July 5, 2024.

Sincerely,

Londa M. Sabatino, CPA, CGFM

Fiscal Officer

 

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