Preparing for Biweekly Pay: Consider Changing Contributions and Withholdings
In July 2021, all UW System employees who are paid monthly—including UW–Madison employees—will be moved to a biweekly pay schedule. Most benefits deductions, including deductions for health, dental, vision and life insurance, will be split evenly across two pay periods each month. In months when there are three pay periods, benefits deductions will not be taken from the third pay period. These adjustments will be made automatically.
Deductions for direct deposit into multiple accounts, contributions, or withholdings will be taken from all 26 biweekly paychecks per year. These include the UW Tax-Sheltered Annuity (TSA) 403(b) Program, Wisconsin Deferred Compensation (WDC) 457 Program, Wisconsin Retirement System (WRS) additional contributions, additional tax withholding, direct deposits into multiple accounts, and payroll contributions to an Edvest section 529 college savings account. If you currently have any of these set up as flat dollar amounts, you will want to adjust the amount that is deducted under the new biweekly payroll schedule so that you do not end up with more money deducted than you intended. To review the actions you may wish to take, please see the checklist for UW–Madison employees. This and many other resources to help with the transition to biweekly pay are available at hr.wisc.edu/single-payroll.