If you have questions about the recent Anthem data breach, please visit anthemfacts.com for the most up-to-date information. The University of Colorado will continue to work with Anthem to provide you timely information related to the breach and resources to protect your personal information.
Can I change a contract type in the middle of a contract year (9-pay-9 to a 9-pay-12, or vice versa)?
In most cases, you cannot change a contract type in the middle of a contract year. However, some instances noted within the Faculty Election Form may qualify as emergencies, and thus, exceptions. Also, we will review instances in which an error occurs on a case-by-case basis to resolve the issue.
Forms are due to the departments by June 30 each year. If a new faculty member is hired after June 30, he/she will have 30 days from the date of hire to make an election. The default is to pay at 9-pay-9.
IMPORTANT - Timing restriction for your election: A faculty member's election to be paid salary over nine months or 12 months must be made before the start of the academic year to which it applies. Once the academic year has begun, the election is irrevocable for that year. It will remain in effect for the entire academic year, and may only be changed at the beginning of each new academic year.
The university cannot allow any changes between 9-pay-9 and 9-pay-12 contract types once the contract period has begun, as doing so would violate IRS regulations around deferred compensation.