Pay Employee Express

[HenryTheAce]

Probably a question for HR, but wondering why my pay doesn't add up. On employee express it says my annual salary is $86,713 (D2- Grade KF) but right next to that, it says my hourly rate is $41.55

$41.55 x 80hrs = $3,324 x 26(pay periods) = $86,424

Am I missing something here?

 

[MJ]

Salary is annualized to 365 days. 26 pp X 2 weeks/pp X 7 days/week = 364 days.

 

[HenryTheAce]

Ahhh makes sense, gotchya! Now why in the world would they do that.... When realistically that's not what you get paid. Who thought that'd be smart? Thanks MJ

 

[breakaway2000]

As far as why they'd do it, every 11 years (1 day per year including 3 leap days) you'll have 27 pay periods in a year. Every agency is different on what year you'll have 27 pay periods, it all depends on where the actual pay day falls. It will be semi-important to know when if you max out your TSP. If you have it set up to max out at 26 pay periods, when you hit 27 and already have the max amount in, your contribution is 0% for that pay period which means you don't get the agency matching contribution. It's ~$100-$250 bucks depending on your salary. Certainly not the end of the world, but if NATCA national would notify you when it happens (I have no idea if they do), I'd certainly make a few clicks for a few hundred bucks.

 

[breakaway2000]

Assuming a Tuesday pay day, the next time it'll happen is 2019.

 

[HenryTheAce]

Interesting!! I didn't know that. Thanks for the info! Appreciate it.

 

[IBM9020]

Your hourly rate is determined by dividing your annual salary by 2087 work hours/year.