Direct Deposit is the University’s preferred method for issuing payroll payments to employees. Employees are strongly encouraged to sign up for Direct Deposit. Direct Deposit provides assurance that your wages will be in your bank account on payday even if severe weather or other circumstances prevent you from picking up your check. The process is simple, saves you time, and your paycheck is available more quickly.
To enroll in direct deposit, OBF recommends employees use the PeopleSoft self-service utility as it reduces the risk of fraud. To sign up:
You can also download instructions for setting up Direct Deposit . Direct deposit updates and changes will be in effect for the pay period following processing. The direct deposit process may take up to two pay periods to be completed, provided the form is submitted ten days prior to the forms deadline.
Payroll staff will walk you through the self-service option for any future needs. We will not accept any authorization through emails or telephones. This is intended for the safety of the employee to prevent a fraud.
Employees are strongly encouraged to sign up for direct deposit. For employees who cannot, payroll will print a paper check available for collection as follows:
Eligible faculty members have the option of choosing a 12-month salary payment plan, commonly called a salary spread, from their nine-month salary appointment. Faculty who choose the 12-month salary election will be paid from September until August of the following year in 12 equal payments. Faculty may opt in to this plan beginning August 1 and ending August 31; E-mail reminders will be sent August 1 and August 15 to all eligible faculty members.
Faculty members are not eligible for salary spread if any of the following situations apply:
Internal Revenue Code Section 409a and deferred compensation regulations stipulate and require a 12-month salary election must be made and completed prior to the school year or work period. Furthermore, the election of either 12-month or nine-month salary election is irrevocable during the school year. The Salary Pay Election will remain in effect until a new Salary Payment Option Form is submitted or when pay from an ineligible funding source invalidates the 12-month salary pay election.
If a faculty member elects the salary spread, and later is separated from the University prior to August 31 of the year in which he/she participates, all deferred funds will be paid in a lump sum to the employee or to the employee’s estate.
The Gross Pay Calculator is an Excel workbook that will calculate gross salary by month and for the entire fiscal year.