New FY20 enhanced benefits begin with January paychecks
Last November, Michigan Medicine announced a series of enhanced benefits for eligible U-M Health System and Shared Services employees. Benefits range from an increase in retirement contributions, to holiday pay and shift premiums — all of which will impact employee paychecks.
Whether you are paid bi-weekly or monthly, please be aware of the following changes that took effect as of Jan. 1, 2020.
For non-bargained for employees for the U-M Health System and Shared Services (on PTO plan), university contributions to the employee retirement savings plan will increase to 10 percent (previously 9 percent), when employees contribute 5 percent (previously 4.5 percent) of base pay.
This change will automatically update through HR and will not impact other additional deductions an employee has set up. For more details on retirement savings plans, please visit the university website: Retirement Savings Plan.
Non-bargained for employees for the U-M Health System and Shared Services (on PTO plan) receiving monthly paychecks will now be paid 1.5x regular pay for working on six holidays (Labor Day, July 4, Thanksgiving and the following Friday, Memorial Day, New Year’s Day) and 2x regular pay for Christmas Day.
Employees receiving biweekly paychecks will now be paid 2x regular pay for working Christmas Day.
This change was effective Dec. 29, 2019, for biweekly paid staff and Jan. 1, 2020 for monthly paid staff.
For more details about holiday pay, visit the Michigan Medicine policies website: UMHS & Shared Service Non-Bargained for Staff Holidays Policy.
Eligible non-bargained for staff who work the majority of their shift on afternoons, nights or weekends will receive shift premium pay for all hours worked.
This change was effective Dec. 29, 2019 for biweekly paid staff and Jan. 1, 2020 for monthly paid staff.
For more details about shift premium, visit the U-M Standard Practice Guide for Shift Premium.
PTO Sell Back
Employees who are eligible for PTO sell back and submitted their request form for a January payout will receive payment on their last check of the month. The deadline for January form submission has passed.
PTO sell back for all eligible employees will now be offered during January and May, but employees can select only January or May for their payout preference. Non-bargained for employees have the option to sell back up to 40 hours of paid time off, as long as 40 hours remain in their PTO bank.
All new employees must complete their probationary period by Jan. 1 or May 1 in order to sell back PTO for their selected month.
For more details about PTO sell back, visit the Michigan Medicine policies website: UMHS & Shared Service Non-Bargained for Staff PTO Guidelines.