University Business Policies and Procedures Manual

2620
DISTRIBUTION OF PAY
Effective Date: November 1, 1991
Revised: 03/05/92, 07/01/01, 09/25/02, 02/01/07, 01/01/08
Subject to Change Without Notice
 

Authorized by Regents' Policy 6.3 "Privileges and Benefits"

1. General

Pay is distributed to employees either by direct deposit to a bank account or a paycheck. The employee chooses the method used; however, all employees are urged to use direct deposit. Direct deposits are not interrupted by University holiday schedules, bank closings, or employee absences on a payday. Employees who choose not to use direct deposit will have their check mailed through the U.S. Postal Service.

2. Employee's Options for Receiving Pay

2.1. Direct Deposit

An employee's net pay may be deposited to a checking or savings account at most U.S. financial institutions, excluding money market accounts. If this option is selected, a direct deposit will be made each pay date until the option is stopped by the employee or 120 days after the last active assignment (job). If an employee returns to work for the University after 120 days, a new direct deposit form must be completed to reinstate direct deposit. Direct deposit is available to all University employees.  To start, stop, or change direct deposit, the employee uses LoboWeb (Employee Self Service) to complete the required Banner form on-line or the employee may complete a Direct Deposit Form at the University Payroll Office.

2.2. Mailing Paychecks

If an employee does not choose direct deposit, his or her paycheck will be mailed to the employee's current Banner address. Employees can verify their addresses by going to LoboWeb (Employee Self Service).  If a paycheck is returned by the U. S. Postal Service, the Payroll Office will attempt to contact the employee for a correct mailing address.  After 180 days the paycheck will be voided. When a paycheck is lost or damaged to an extent that it is no longer negotiable, the Payroll Office issues a replacement check to the employee. The employee should report the loss of a paycheck to the Payroll Office immediately. In the case of a damaged paycheck, the employee must take the check to the Payroll Office to request a replacement. The Payroll Office replaces lost or damaged paychecks as quickly as possible. Prior to replacing a lost paycheck, the Payroll Office ensures that the original check has not been negotiated and will not be negotiated in the future. In order to ensure that the original paycheck will not subsequently be negotiated, the Payroll Office places a stop payment order on the check with the issuing bank. The stop payment process can take up to three (3) business days.  Lost paychecks are replaced only after confirmation and stop payment actions are complete. A fee covering bank charges to the University will be collected from the employee for the lost or damaged paycheck.

3. Pay Information for Employees

Employees can view and print detailed current and year-to-date information on gross pay, deductions, taxes, and benefits on-line at LoboWeb (Employee Self Service). Sick and annual leave current usage and year-to-date balances are also available.

4.  Related Links

LoboWeb (Employee Self Service)

Comments may be sent to UBPPM@UNM.edu
http://www.unm.edu/~ubppm