Faculty who begin employment with Baylor's Fall semester (in August) have the option to receive their ten-month academic year salary in twelve installments. This election divides the academic year salary amount by twelve instead of the usual ten, with FICA and withholding taxes deducted each month based on the twelve-month pay option gross. Faculty who elect this option will receive monthly compensation August through July of each academic year. Any summer compensation will be added to the option amount for June and July.

Example:

• 10-Month Contract Salary $50,000.00
• 12-Month Pay Option Gross $4,166.67

Please note:

• This option does not affect employment or benefit status.
• Current faculty who wish to move back to a 10 over 10 basis may use this form to do so. The deadline to elect or revoke is August 10th.
• Eligibility: 10 month contracted Faculty. For questions regarding eligibility, please reach out to your Dean's Office and the Office of the Provost.

IRS regulations provide that once the the faculty member has agreed to this arrangement, it may not be revoked for that academic year. As with any tax matter, a personal tax counselor should be consulted for any questions.

Questions regarding this option may be directed to askHR@baylor.edu or at 254.710.2000.

I understand that this election shall serve as my election for each subsequent academic year unless I revoke my election by submitting this form and choosing the 10 over 10 option no later than the August 10th deadline.