Full-time Faculty 12-Month Deferred Payment Option
The Twelve-Month Deferred Payment Option plan is open to all full-time 164 & 196-day contract faculty. This allows employees to select a fixed savings amount to be deducted from their monthly paychecks received during the fall and spring semesters (9 or 11 checks depending on contract length). These deductions are then returned to the employee as an after-tax deduction when they are off contract over the summer, (May, June & July) for the 9-month faculty (164-day & 16B contract), and (July) for the 11-month faculty (196-day contract).
Another option available through the colleges Preferred Credit Union Addition Financial is their Deferred Option Plan. With this plan you can set up your direct deposit to automatically deposit funds into a savings account that earns a special interest rate. These funds will be available for you to access during your off-contract months over the summer. For more information please visit any Addition Financial Branch, including the Branch located at the lower level of UP building at the Seminole State College, Sanford-Lake Mary Campus.
For more information, see links below or contact Yudeska Valentin at valentiny@seminolestate.edu or 407.708.2513.