I am sure many of you have questions regarding the $400 one-time bonus announced last week
The Tennessee state government has set aside funds for a one-time bonus to be paid on Oct. 1, 2008, to employees who meet the eligibility guidelines below:
- Regular employees in an active pay status on Oct. 1, 2008, with three or more years of eligible service will receive a one-time bonus, which will be prorated for eligible part-time employees. Ask your supervisor if you have questions about pro-rated amounts.
- The bonus payment will be issued through your usual payment method —either by check or direct deposit — and is subject to federal income and social security withholding tax.
- The bonus is included as compensation for retirement purposes, with the exception of anyone participating in federal retirement plans.
- The bonus payment may be deferred through the Deferred Compensation Program using the same provisions as those for longevity pay. Forms are available at http://www.tennessee.edu/retirement and should be returned to the Office of Benefits and Retirement no later than Sept. 19, 2008. Please contact the Office of Benefits and Retirement Services at (865) 974-4341 or by e-mail at benefits@tennessee.edu with questions.
If you have additional questions or concerns regarding the bonus, please contact your campus or institute human resources department. Human resources contact information, as well as all HR-related news and information, can be located on the system HR Web site.
Thank you for your service to the University of Tennessee.
