Parking Power Point Presented to the Senate on May 9, 2012
Concerning the Wells Fargo Issue:
Andrew Harris provided information regarding the Wells Fargo early deposit of faculty January salary during December of 2011. Dialogue is on-going with Wells Fargo as a remedy is sought. The university lawyers are also involved in the dialogue to seek a resolution to the problem. UNT received a letter from Wells Fargo and this letter was shared with UNT employees via email during March.
UNT employees are advised to file their taxes in a timely manner because UNT issued a W-2 to employees during January 2012. This information is accurate (in terms of pay received). This is a different discussion about how each individual employee might be affected by this mistake. Additional response in the next few weeks is indicated in the letter from Wells Fargo.
Examples of individuals that could be affected include (a) retirement contributions that are maxed out due to the overpayment during 2011; (b) health care plan deductions that are exceeded as result of the extra paycheck; and (c) individual’s whose income could place them within a margin that increases their tax liability during 2011 due to the 13th pay check.
Mr. Harris also indicated that changing the monthly payroll date to the last business day of the month is under consideration.
Interesting Links from the Texas Council of Faculty Senates: