Semimonthly Pay Schedule Begins in April
MIT is increasing its pay frequency for faculty, salaried staff, graduate students, and fellows—transitioning from a monthly to a semimonthly schedule in April 2018.
With this change, there will be two pay dates per month—on the 15th of the month and on the last day of the month. If either falls on a weekend or holiday, the pay date will be the business day that precedes that weekend or holiday.
March 2018 will follow the usual monthly schedule. The pay date will be on March 30, 2018.
The pay date for April 2018 will be divided into two payments—Friday, April 13, and Monday, April 30. In other words, half of the monthly amount will be paid earlier than in the monthly schedule.
There will be no change to total monthly pay, tax withholdings, or benefit deductions. Current payroll withholdings and deductions will be evenly divided between the two semimonthly pay periods, except for Commuter Rail and Vanpool deductions, which will be deducted at the end of the month only.
Please note that semimonthly pay (twice monthly) is not the same as biweekly pay (every two weeks). The transition to semimonthly pay will result in 24 pay dates per year instead of the current 12 pay dates per year.
This change does not affect those who are paid weekly. Hourly employees will continue to be paid on a weekly basis.
Information on the transition to the new pay schedule will be communicated to faculty, salaried staff, graduate students, and fellows in a variety of ways during the next several months.
Review Semimonthly Pay Schedule FAQs.
If you have additional questions about the transition, please email the VPF Communications Team at firstname.lastname@example.org.