The Merit Selection Form is now open through Dec. 15! Full-time and part-time benefits eligible employees working 20 or more hours per week and hired on or before Sept. 30, 2022 can go in and select how they would like to receive their 2023 merit through Employee SSHR in Oracle.
Options include:
Option 1: Receive the merit increase as an addition to the employee’s base rate of pay. This is the default and how merit increases have traditionally been applied. If an employee does not choose an option, they will receive their merit as an addition to their base rate of pay.
Option 2: Receive the merit increase in a lump sum. Employees who choose to receive a lump sum will be paid the annualized equivalent amount of their merit increase all at once in a lump sum on the Jan. 13, 2023 paycheck. If the employee chooses a lump sum and is eligible to participate in the 457 (deferred compensation), they may have the lump sum deferred into their account.
Option 3: Receive the merit in the form of Merit Paid Time Off. Employees who choose to receive Merit PTO will receive Merit PTO in the leave equivalent to their merit increase. Employees unable to use all their Merit PTO during the year, will be paid a lump sum on the last pay period of the year for any remaining balance.
Don’t miss out! More information about Merit, including instructions for completing the Merit Selection Form, and a list of FAQs, can be found on the Rewards for Performance page on InsideJOCO.
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