New
Teacher FAQ - Payroll1. Q. How is my equalization pay calculated?
A. The following example will outline the formulas used:
Total Week Days in a School Year
= 260
Total Teaching Days in a School Year
= 194
Your gross bi-weekly pay is calculated using the following formula:
a.) Annual Salary x No. of Paid Days = Bi-weekly Gross Paid 260 days
Your bi-weekly salary entitlement based on Teach days is calculated using the following formula:
b.) Annual Salary x No. of Teach Days
= Bi-weekly
Salary entitlement based on No. of Teach
Days
194 Teach Days
The amount owed to you per pay as part of the equalization pay that will be paid to you at the end of the school year is calculated using the following formula:
Resulting amount from formula b. (Bi-weekly Gross Salary entitlement based on Teach Days) less resulting amount from formula a. (Bi weekly Gross Salary Paid) equals total equalization accrual this pay.
2. Q. Are the 2 Urgent Personal Business allotted to me every school year 2 additional days?
A. No, UPB days are not in addition to your sick days, you are allotted 2 UPB days every school year, these are 2 days out of your accumulated sick days that can be used for urgent personal business.
3. Q. Am I entitled to use the absence code 11 for Family Illness?
A. Absence code 11 is only for the use of CUPE 1280, 1328, 3155 members. The Family Illness code 42 for OECTA members is part of the UPB allotment and is reduced from your accumulated sick days.
4. Q. Do I need to submit a TD1 Personal Tax Credit Return form?
A. A TD1 Form is only required if you are claiming anything other that the Basic Personal Exemption. If you submit a TD1 Form claiming tuition a new TD1 form is required for the next taxation year in order to remove this from your file.
5. Q. Is it mandatory to contribute to the Ontario Teachers' Pension Plan?
A. Yes, according to the Ontario Teachers' Pension Plan Act, anyone who is a qualified Teacher and in good standing with the Ontario College of Teachers' or teaching under a Letter of Permission, is required to contribute to the Plan.
6. Q. How does maintaining my status with the Ontario College of Teachers' affect my pension?
A. Should you fail to maintain your status with the Ontario College of Teachers' (OCT), one of the following situations may apply to you.
a.) If you are hired by the Board and are not in good standing with the Ontario College of Teachers', you will not be eligible to contribute to the Ontario Teachers' Pension Plan. No contributions will be deducted by the Payroll Department.
b.) If it is discovered during the course of your employment, that you did not maintain your status with the Ontario College of Teachers', any pension contributions and service credit made may be refunded and the corresponding service credits withdrawn. This may result in a pension service gap.
The long term effect of having a period declared ineligible may result in a loss of pension credit used to determine your eligibility to retire before the age of 65.
7. Q. Who's responsibility is it to ensure that I remain in good standing with the Ontario College of Teachers'?
A. The Payroll Department is currently responsible for administering the annual deduction on behalf of the Ontario College of Teachers'. This fee is automatically deducted from your pay in January of each year. If you are a Supply Teacher, you will be invoiced directly by the Ontario College of Teachers'. Should you be on leave during the month of January, it is the responsibility of the Teacher during the leave (i.e., maternity leave, personal leave, etc.) to contact the Ontario College of Teachers' to make arrangements for paying the fee. Failure to pay the fee, will result in losing your good status with OCT.
For more information regarding any repercussions or possible penalties, please contact the Ontario College of Teachers' directly.
8. Q: How much would it cost to purchase the service credits for a period of absence and how do I apply for the purchase?
A: Application forms may be obtained from the Pension Plan Board or the Payroll Dept. The employee has to complete the "Personal reference" section in the form and forward it to the payroll department. The payroll department will complete the "Employer information" section and fax the application to the Pension Plan Board.
The Pension Plan Board will calculate the cost of contributions, which depends on the date of application. If the teacher applies within one year of their return to work after a leave, the teacher will be charged the cost of missed contributions plus the interest. If the application is made after one year, the employee would be charged at the actuarial cost for the contributions. The actuarial cost would be much more expensive than the regular interest cost.
THE COST IS CALCULATED BY THE PENSION PLAN BOARD AND THE EMPLOYEE WOULD BE INFORMED BY THEM DIRECTLY. ALSO, THE EMPLOYEE HAS TO SEND THE CONTRIBUTION DIRECTLY TO THE PENSION PLAN BOARD.
8. Q. Why does my pay fluctuate between the first and the second pay of every month?
A. The first pay of every month will be lower than the second because union dues and benefits are only deducted on the first pay of every month.
9. Q. Why is the amount in box 14 on my T4 slip different from my annual salary?
A. In
addition to your salary all taxable benefits are added to the income reported
in box 14. There may also be a difference in the salary reported
in box 14 when compared to your annual salary because your salary is paid
to you based on the school year but your earnings are reported on the T4
slip based on the calendar year. There may be a difference in the
number on teaching days from the school year to the calendar that will
account for this difference.
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