Fillable New Jersey Institute of Technology Summer Savings Plan (New Jersey Institute of Technology)

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New Jersey Institute of Technology Summer Savings Plan (New Jersey Institute of Technology)

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New Jersey Institute of Technology
Summer Savings Plan Enrollment Form
(Must be Ten-Month Employee)
Dear Employee,
Would you like to receive your salary over 12 months? If so, the Summer Savings Plan might be for you.
The program provides continuous pay for ten-month faculty for the months they are off payroll (usually
June and July).
Below is an example explaining how the program works:
Summer Savings total distribution = $8,000.00 (substitute your amount here)
Total $8,000.00 deducted over 20 pays = $400.00 per payroll (deducted from August thru June)
Total $8,000.00 over 4 pays = $2,000.00 (distributed during June and July)
If you would like to enroll in the Summer Savings Plan, please fill out the application below. The
indicated deduction will remain in effect, until we receive written notification indicating otherwise.
For further information on the program, please contact Antoinette Pittman at (973) 596-3161 or
pittman@njit.edu.
____________________________________________________________________________________
Name_______________________________________________ Telephone #______________________
Employee ID# /SSN: _______________________ Email: ____________________________________
I authorize NJIT to deduct the amount listed below each pay period from my payroll check:
Summer Savings total distribution = $______________
Total $______________ deducted over _____ pays = $__________ per payroll (deducted from August thru June)
Total $______________ over 4 pays = $____________ (distributed during June and July)
Payments will be generated from Accounts Payable. If you wish to have the disbursements deposited to your
bank account, please submit an ACH Authorization Form to the Accounts Payable Department. Otherwise, you will
be issued a manual check.
____________________________________________ _________________________________
Signature Date
_____/_____/_____________ ______________________________________
Deduction Start Date Processed by
Revised 2018
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New Jersey Institute of Technology Summer Savings Plan (New Jersey Institute of Technology)

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Completed 24 August 2020

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