All full-time faculty and staff who worked in 2009 are receiving real value statements. This is part of a strategic plan initiative to increase employees’ understanding and awareness of their total compensation and benefits package.
Why did I not receive a real value statement?
You would not have received a real value statement if you were hired after January 1, 2010, or if you transferred to a part-time position after that date, or separated from university employment.
How can I verify the information on the real value statement?
As the information on this statement is for calendar year 2009, employees should be able to easily compare the information on this statement to the last pay advice issued to them in 2009.
How does the pay compare to my annual salary?
This statement reflects the actual pay you received during the calendar year 2009. This will vary from your annual salary if you received additional pay for any reason, i.e. overtime, stipend, shift differential, or took any time off from work without pay. Also, keep in mind that salary increases go into effect each September so are only reflected in the pay received for the last 4 months of the calendar year.
What type of paid leave is included in this statement?
Paid leave reflects the dollar value of any leave the employee took during the course of the calendar year. This includes annual leave, sick leave, holiday, bereavement, jury duty, military leave, and administrative leave. Accrued leave that was not used during the calendar year is not included on this statement.
How can I compare this information to last year?
The university has prepared real value statements for the first time. If you would like to compare the values on the statement to prior years, you may do so using your final pay advice issued for a prior calendar year. We recommend that you file this statement in a safe place so that you may compare future years to this one.
When will updated real value statements be available?
Real value statements for 2010 will be prepared and distributed in early 2011. Since the statements reflect values for the calendar year, the year end processing of payroll must be completed before we can prepare the annual statement.
How will this affect my performance based salary increase this summer?
This statement should have no impact on performance based salary increase decisions. This is a confidential document that is provided directly to faculty and staff for their own information and the information is not shared with anyone else. Department heads, managers, and departmental HR Representatives will not have access to this information.
Who should I call if I have questions about my Real Value Statement?
Please call the office of human resources on (202) 885-2591.