Summer Installment Pay FAQ

Why is Transylvania County Schools making this change?
General Statute 115C-302.1(b) requires LEA’s to provide teachers with an option to receive their 10-month pay in 12 monthly installments.  Effective July 1, 2021, the NC Department of Public Instruction will no longer support the current “traditional” installment pay system.  LEA’s that currently use the state installment system will be required to implement a new system to meet the requirements of the general statute.

Transylvania County Schools has chosen the State Employees Credit Union Summer Cash program to replace the traditional installment option.

If I don’t want to enroll in the program do I have to do anything?
If you are a 10 month certified salaried employee, you must complete the Summer Installment Pay form to either participate or decline participation in the program.  You will only have to do this one time.


What about my installment pay for this year?
This will not affect your installment pay for this year.  If you are currently on installment pay you will receive a June and July check as usual.  This change is effective for next summer and beyond.

How is a SECU Summer Cash account different than traditional installment pay?
Traditional installment pay holds a portion of your pay each month before you receive it, and you receive a check in June and July.  With a Summer Cash account a specified amount that you determine is payroll deducted from each of your 10 paychecks and deposited into a SECU account each month. Rather than receiving a check in June and July, funds from your Summer Cash account will be automatically transferred to your checking account.

 
What are some of the advantages of the Summer Cash program over the traditional installment pay method?
A Summer Cash Account allows you to

  • earn interest on your pay

  • adjust the amount deducted for summer pay based on your circumstances.  For instance, if you know you will have a summer job you can reduce your deduction.

  • cancel your deduction under certain circumstances

How do I sign up for a Summer Cash account?
Please follow these steps:

  1. If you do not currently have direct deposit, please contact Lisa Osteen to enroll.

  2. Click here for the Summer Installment Pay election Form.  You may complete and sign electronically and the form will be automatically routed to Lisa Osteen in Business Services.

  3. Contact the State Employees Credit Union at 884-2338 and ask to speak to a representative about the Summer Cash program, or enroll through Member Access if you already have a SECU account.

We will also have a representative from SECU at your school sometime before this school year ends.  We will notify you when that is scheduled.

I am already enrolled in SECU Summer Cash.  Do I have to do anything?
If you  are already enrolled you do not have to complete the form or re-enroll.  You may however want to review your deduction and adjust if your pay is higher next year.

I do not want to enroll in the SECU Summer Cash program.  How do I get my pay spread over 12 checks?
The Summer Cash program will be the only program we will be able to offer beginning the 2021-22 school year.  However, you may individually elect to payroll deduct a portion of each of your checks to go to another bank account you may have.  Please contact Lisa Osteen if you wish to make any changes to your direct deposit bank account routing.

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