| What is Direct Deposit?
The Direct Deposit system permits an eligible employee to designate a
financial institution to which the State Controller's Office deposits all
net earnings. Once enrolled, all payments made to you through the payroll
system, including regular pay, shift differential, premium pay, overtime,
awards and bonuses are transferred electronically to your financial
institution.
Direct Deposit is voluntary and is available to all employees who meet
the eligibility requirements. Graduate Assistants and Student Assistants
are not eligible to participate in this program. Once enrolled, you will
receive a "Direct Deposit Advice" instead of a payroll warrant.
Who is Eligible to Participate?
Faculty members are not required to maintain a minimum leave balance to
be eligible to participate.
All employees who are paid on a monthly basis and whose pay warrants
are issued on the last day of the pay period are eligible to participate,
subject to the following:
- Employees with a time base of greater than 3/4 time must have a
minimum leave balance of 20 hours of sick leave and 20 hours of
vacation.
- Part-time employees with a time base of 3/4 time or less must have a
minimum of 10 hours of sick leave and 10 hours of vacation.
Additional vacation hours can be used to offset the required sick leave
hours on a one-for-one basis. Employees may use CTO, personal holiday and
holiday credits in lieu of vacation hours to meet the eligibility
requirement.
How do I sign Up and When Does it take Effect?
Employees who wish to enroll in the program must complete a direct
deposit authorization form (It is critical that employees verify the
routing and account numbers with their financial institution). Once
completed, the form is submitted to Human Resources Management for
eligibility review. It takes 30 to 60 days before your first warrant is
deposited directly to the financial institution. (If there are
inaccuracies in the routing or account numbers the authorization will be
rejected by the State Controller's office and the authorization form
returned to the campus for correction and verification by the employee -
onset of direct deposit to your account will not occur until corrected).
When is My Pay Deposited, and How Soon is it Available to Me?
Funds are available to the financial institution on the first banking
day after the end of the pay period. For example, if the pay period ends
on a Wednesday, the funds are available on Thursday. If the pay period
ends on Friday, a weekend or holiday, funds are available on the next
banking day. Most financial institutions post funds to accounts at the
beginning of the bank business day. Some post funds in the afternoons
instead of the mornings. Some financial institutions may not be timely in
posting Direct Deposits on the same day that they receive them (contact
your financial institution to determine their posting dates/times).
How Do I Cancel or Make Changes to my Direct Deposit?
Because of the amount of lead time needed before changes take effect,
you should contact Human Resources Management well in advance of desired
changes. In the event you wish to change from one financial institution to
another or even change the account to which your pay is deposited, Human
Resources Management can advise you of what actions to take and when the
change is likely to become effective. You should not cancel an old
account until the change has shown up on your deposit receipt.
The same cautions apply to cancellation of your Direct Deposit of pay.
For answers to any questions you may have, please contact Sue
Gary or Annice
Shields, in the Payroll Office. |