20 or 24 pays? - ProTeacher Community




Home Join Now Search My Favorites
Help


      The VENT

20 or 24 pays?

>

Reply
 
Thread Tools
PrimaryTeach8 PrimaryTeach8 is offline
 
Joined: Jun 2019
Posts: 47
Junior Member

PrimaryTeach8
 
Joined: Jun 2019
Posts: 47
Junior Member
20 or 24 pays?
Old 06-14-2019, 06:16 PM
 
Clip to ScrapBook #1

I'm filling out a paycheck form for my first teaching job. It's asking me if I want 20 pays or 24 pays. It says:
The 20 pay schedule is available only to school-year employees; all others working beyond the school year must be on the 24 pay schedule.

It sounds like I should be on the 20 pay schedule, but I'd like to get paid over the summer. I'm not sure which one to pick.


PrimaryTeach8 is offline   Reply With Quote

RetiredKat RetiredKat is online now
 
Joined: May 2013
Posts: 4,716
Senior Member

RetiredKat
 
Joined: May 2013
Posts: 4,716
Senior Member
Imo..
Old 06-14-2019, 06:30 PM
 
Clip to ScrapBook #2

Our teachers get paid monthly. They may choose 10 or 12 payments. If you are disciplined you may decide to receive 20 payments than transfer a portion to your saving account to be used during the summer. That way you are earning the interest on your money, rather than the state. It may not be much, but it's yours. Most banks can automatically transfer funds which really simplifies the process.
RetiredKat is online now   Reply With Quote
TAOEP TAOEP is offline
 
Joined: Feb 2017
Posts: 1,188
Senior Member

TAOEP
 
Joined: Feb 2017
Posts: 1,188
Senior Member

Old 06-14-2019, 06:43 PM
 
Clip to ScrapBook #3

From what you have written, I think that school-year employees have a choice between getting paid 20 or 24 times per year. It depends on what works better for you. Most teachers prefer being paid year-round; they want to know that they will continue to have income during the summer.

Others have savings or a working spouse or a lot of self-discipline (or a good paying summer job) and choose to get their pay in 20 checks. That clearly would result in larger paychecks and get the money into your pocket sooner.

It's a personal choice. One size doesn't fit all.
TAOEP is offline   Reply With Quote
Cat woman's Avatar
Cat woman Cat woman is offline
 
Joined: Dec 2009
Posts: 6,179
Senior Member

Cat woman
 
Cat woman's Avatar
 
Joined: Dec 2009
Posts: 6,179
Senior Member

Old 06-14-2019, 07:10 PM
 
Clip to ScrapBook #4

We had the option of 18 or 24. (Getting paid on the 15th and 30). If you chose the 24 you received your 6 remaining checks on the last day of school. This may not be true for other districts. I tried the 18 payments once because coworkers convinced me that I should put it in savings to gain interest. To me it was more of a hassle to be sure I had enough to get through the summer. I was single at the time so I really needed to have enough co e summer!

The way yours is worded I would interpret that you could choose either.
Cat woman is offline   Reply With Quote
PrimaryTeach8 PrimaryTeach8 is offline
 
Joined: Jun 2019
Posts: 47
Junior Member

PrimaryTeach8
 
Joined: Jun 2019
Posts: 47
Junior Member

Old 06-14-2019, 07:20 PM
 
Clip to ScrapBook #5

Thanks everyone! I chose the 20 pay. I won't be using much, it will all be going into savings. And I'll be spending very little of it. So now that I think about it, I really don't need to get paid during the summer because I'll have so much saved up.


PrimaryTeach8 is offline   Reply With Quote
Kinderkr4zy's Avatar
Kinderkr4zy Kinderkr4zy is online now
 
Joined: Nov 2015
Posts: 1,231
Senior Member

Kinderkr4zy
 
Kinderkr4zy's Avatar
 
Joined: Nov 2015
Posts: 1,231
Senior Member

Old 06-14-2019, 07:53 PM
 
Clip to ScrapBook #6

Quote:
I won't be using much, it will all be going into savings. And I'll be spending very little of it. So now that I think about it, I really don't need to get paid during the summer
Bite your tongue!

My jealousy is palpable and it will remain palpable when I walk in monday and continue teaching ESY. I love the kids, but what I wouldnt give to be there because I wanted to be rather than because I had to be-and I do get paid over 12 months
Kinderkr4zy is online now   Reply With Quote
twinmom95's Avatar
twinmom95 twinmom95 is online now
 
Joined: Jul 2013
Posts: 5,255
Senior Member

twinmom95
 
twinmom95's Avatar
 
Joined: Jul 2013
Posts: 5,255
Senior Member

Old 06-15-2019, 03:07 AM
 
Clip to ScrapBook #7

We have a choice between 22 or 26 pays. I have always done the 26 pay and we really get the last four on the last day of school.

As to getting it early to earn interest, my brick and mortar savings account pays something like less than a quarter of a percent. . I have other accounts through Capital One online that pay better, so I will put any leftover money from my large check in that in one deposit. They don't take our 403b contributions or our health and dental payments out of those last four checks, so I get a lot extra, which is nice :-)
twinmom95 is online now   Reply With Quote
RetiredKat RetiredKat is online now
 
Joined: May 2013
Posts: 4,716
Senior Member

RetiredKat
 
Joined: May 2013
Posts: 4,716
Senior Member
PrimaryTeach8
Old 06-15-2019, 06:33 AM
 
Clip to ScrapBook #8

What Kinderkr4yz said DITTO!!!!
RetiredKat is online now   Reply With Quote
NJ Teacher's Avatar
NJ Teacher NJ Teacher is offline
 
Joined: Sep 2005
Posts: 7,546
Senior Member

NJ Teacher
 
NJ Teacher's Avatar
 
Joined: Sep 2005
Posts: 7,546
Senior Member
Nice to have a choice...
Old 06-15-2019, 02:34 PM
 
Clip to ScrapBook #9

Teachers in our district were paid twice a month. We did not have the option of getting checks in July and August. The district did take out money for you and deposited it into a credit union account if you authorized them to. When I was negotiating, we did try to get the district to give us the option to get checks in the summer, but they were not willing to look into it. I realize that the interest would have been earned by the district on our money, but savings is not paying a lot these days anyway. Fortunately, I never ran out of money from my credit union account.
NJ Teacher is offline   Reply With Quote

Join the conversation! Post as a guest or become a member today. New members welcome!

Reply

 

>
The VENT
Thread Tools




Sign Up Now

Sign Up FREE | ProTeacher Help | BusyBoard

All times are GMT -8. The time now is 12:42 PM.

Copyright © 2019 ProTeacher®
For individual use only. Do not copy, reproduce or transmit.
source: www.proteacher.net