Ithaca College offers Staff who hold exempt positions that work less than 12 months per year and full-time, contingent Faculty an option to be paid over 12 months or 24 pay periods. This is called annualized compensation. Annualized compensation ensures income during the summer months, not only through the academic year.
Beginning with the 2025-26 academic year, faculty salaries (Continuing Tenured, Tenure-Eligible and will by default be disbursed over 12 months, from July 1 through June 30. Faculty who prefer their salaries to be disbursed over the Academic year instead of 12 (pay periods beginning August 16 through May 31) must submit a compensation election form. This form must be submitted by June 15 in order to affect the change for the upcoming academic year.
IRS regulations state that once you have made an election, you may not revoke it until the following academic year. As with any income tax matter, please contact your personal tax counselor if you have any questi