Payroll Related

1. What is “Lag Pay”?

In the 1970s legislation was passed in New York State that moved the schedule for payroll payments so that instead of being paid up for work performed upon receipt of a paycheck, employees were not added to the payroll until the beginning of the next payroll following the one in which they commenced working. This action was taken for two reasons. First, at the time New York State was facing a budgetary crisis and this recycling saved money in a difficult fiscal year by deferring two weeks worth of salary distributions into the next fiscal year. Secondly, it was felt that the lag system would be more efficient and avoid the work involved in returned checks for "no shows" or "lost time pay deductions" and the need for capturing and returning checks for replacement checks when employees left service and there was not enough time for payroll to be notified to stop or adjust their checks.

2. How come when I multiply my biweekly gross pay by 26, it equals less than my annual salary?

To determine your bi-weekly gross pay, you should take your annual salary and multiply it by a factor, dependent on whether your obligation is based on a calendar year or an academic year.  For most people, that factor, except for leap year, is .038356 or 14 days/365. 

Other factors that may also affect your ability to reconcile your annual earnings, your biweekly rate, and your annual salary rate include start date, whether or not you are in your first year of employment, the regular lag (two weeks), the special lag (one week for all employees appointed to the Regular State Payroll except those represented by UUP), and whether or not you have received any raises (retroactive or current) during the period you are attempting to reconcile.

a) A start date may be in the middle of a pay period so that a first paycheck will not represent the full 14 days in the pay period.

b) If you are M/C or are represented by any union except UUP, you get paid one day less than worked for each of your first five pay periods of employment to cycle you into the extra week of "lag" that you are then paid for when you separate from service.

c) The normal two-week lag will push two weeks of your earnings from one tax year into the next tax year. Of course, as the calendar rolls along, there are tax years in which you actually receive 27 checks for tax purposes, such as happened in 2002.

d) The effective date of salary increases may fall in the middle of pay periods or cross year-end or employee employment anniversary boundaries (i.e., the first check in September -- 2nd check paid because of the lag -- for faculty paid on the CAL basis -- 9/1-8/31 -- It might include X number of days at the faculty members previous academic year salary and Y number of days at the faculty members new academic year salary if raises to faculty were effective September 1st since September 1st rarely is the first day of a 14 day pay period).

Bursar Related

1. How do I sign a Perkins promissory note?

Promissory notes are available online; visit http://slsc.albany.edu/borrowers/ . Under the “Access and sign your electronic documents”, follow the “Complete your entrance interview…” section for further instructions. Promissory notes must be signed (either electronically or manually) before the College can draw down funds on your behalf.

2. How do I sign Health Professions Student Loan and Loans for Disadvantaged Students Promissory notes?

These notes need a manual signature. You may obtain either note from the Bursar’s Office.

3. How do I get the foreign student health insurance fee waived?

Foreign students who have alternate medical insurance coverage and show proof of such may receive a waiver of the health insurance fee. The waiver request form (available in downloadable forms section) should be completed and submitted to the Office of Student Affairs. A copy with proof is subsequently forwarded to the Accounting Office.

4. When will my loan refund be ready?

Usually, student refunds are ready in five business days from the first day of class for loans that have been received from a bank.

5. How do I get a replacement check for a lost or stolen refund?

Contact the Bursar with information about the original check; a stop payment must be placed with the bank before a new check is issued.