The one-time payment is subject to all applicable FICA taxes, federal income tax, and state income tax. The one-time payment is not subject to TRS or other retirement deductions. The Office of Human Resources will provide more information about the Cost-of-Living Adjustment as it becomes available. If an employee separates prior to the payment date, is the employee still eligible for the one-time AFY22 supplemental payment? No. Employees must be in active HR status during the pay period associated with the payment date to be eligible. Are new hires, internal transfers, and promoted employees eligible for the $5,000 COLA increase? Employees who have been hired, transferred, or promoted into an eligible position and begin work on or after April 1, 2022, will be eligible to receive the $5,000 COLA increase to base salary. In some circumstances, if a salary has been negotiated at a higher level, the institution may evaluate and decide to ensure internal equity. How will the pay supplement be taxed? Payments will be subject to all applicable FICA Taxes, Federal Income Tax, and State Income Tax. Federal and State Income tax will be withheld at the employee’s normal tax rate. Is the pay supplement “retirement eligible”? N , the one-time upplement is NOT eligibl for r tirement benefits. The remaining amount that will be included on the normal payment schedule to finish out the fiscal year is eligible for retirement benefits. 11
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