Staff and Full-Time Temporary Faculty
Ithaca College offers Staff who hold exempt positions that work less than 12 months per year and full-time, temporary 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.
This form needs to be completed no later than
If you do not complete this election form, Ithaca College will NOT annualize your compensation.
IRS regulations state that once you have made an election, you may not revoke it until the following fiscal year (Staff) or academic year (Faculty). As with any income tax matter, please contact your personal tax counselor if you have any questions.
Continuing Tenured, Tenure-Eligible and MYRN Faculty (24-credit workload; note that this does not apply to faculty with 30-credit workloads)
Beginning with the 2025-26 academic year, faculty salaries (Continuing Tenured, Tenure-Eligible and MYRN Faculty (24-credit workload; note that this does not apply to faculty with 30-credit workloads) will by default be disbursed over 12 months, from July 1 through June 30. Faculty who prefer their salaries to be disbursed over 9 months instead of 12 (pay periods beginning August 16 through May 31) must choose "Academic year only" on the election form. This form must be submitted by May 30 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 questions.