Wilkes County Schools

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Finance » Installment Pay Changes for 10-Month Employees

Installment Pay Changes for 10-Month Employees

Beginning with the 2021-2022 school year, the Installment Pay System will no longer be supported by the State. This system allowed school systems to hold a portion of an employee's salary back so it could be dispersed to them during the summer months. Since this is being discontinued, 10-month employees of Wilkes County Schools will have two options to consider moving forward. Both are good options and put the money in the employee's possession instead of having it held back by the State.
Option 1:  State Employee's Credit Union (SECU) Summer Cash Program
This is set up as a payroll deduction and payment will be made by WCS to a SECU summer cash account that will earn interest. More information on the SECU Summer Cash Program can be found on their website.
Option 2:  Individual's Bank of Choice
10-month employees may choose to have a portion of their salary sent to any bank via direct deposit. The WCS Finance Department can directly deposit salary payouts into more than one bank account. Funds can be sent to both a checking and a savings account each pay period so that money will be available in savings when the summer months arrive. All monies would be in the employee's possession, so this option only works if the monies are allowed to build up in savings and are not accessed until the summer. Employee's choosing this option may need to complete a new direct deposit authorization form and bring it to Kim Brown in the Finance Department at WCS Central Services.
Regardless of the option selected, 10-month employees must make a decision by August 1, 2021. This allows time for all changes to be implemented for the August 2021 payroll. Those choosing not to act or submit the needed forms by August 1, 2021, will automatically be changed to 10 payments with the funds being directly deposited to the account currently on file.
Employees currently on installment pay will still receive their June and July 2021 payments as normal since this change will not go into effect until the 2021-2022 school year.
The elimination of the Installment Pay System means that all voluntary deductions (through Pierce Group benefits and the State Health Plan) will be deducted over 10 months instead of 12.  While the total annual amount being deducted will remain the same, the deductions will be a higher amount since they won't be taken out as often. These new rates will be reflected when you enroll for these benefits.
An official memo from Seth Prevette, CFO regarding changes to the State Installment Pay System was sent out to all WCS employees on March 19, 2021. His original memo is linked below.