In addition to saving money, what can you do ... - CO Courts
Biweekly Payroll Transition TipsThe Colorado Personnel Payroll System’s payroll transition will involve two major changes for Colorado Judicial Branch employees:A move from a ‘current’ pay to ‘lag’ pay.A move from monthly to biweekly pay.In addition to saving money, what can you do to prepare?Consult with your bill servicers (for mortgages, utilities, cable, student loans, car payments, etc.) to see if you can change the timing and amounts of your bills to fit your new pay schedule and preferences. Many servicers operate on multiple cycles and are very accommodating to requests for changes. You may be able to negotiate a new payment structure that works better for you. Check the timing and amount of additional direct deposits, and change automatic payments taken directly from your paychecks, and consider editing to percentages instead of flat dollar amounts if possible.As direct deposits processed are not effective until the following month of payroll, contact your District’s Administrative Specialist to make changes for the following month (see this employee action sheet outlining additional direct deposit processing).Craft a new budget for biweekly pay.Consider using this budget estimator to help create a new budget for your biweekly paychecks.You may use this calendar of biweekly pay periods for the months from July to October. Consider using this monthly-biweekly comparison to estimate your gross biweekly paychecks before deductions and withholdings.Consider using this net pay estimate calculator to estimate your take-home net pay after deductions and withholdings. Note, this calculator only provides an estimate, as net pay is difficult to calculate due to differing pre-tax deductions, tax withholdings, etc.Refer to the deductions schedule as you are crafting your new budget.If needed, make use of available resources.Low-interest loans will be sourced through the Executive Branch.C-SEAP (Colorado State Employee Assistance Program) can provide financial consultation.Contact your Administrative Specialist, HR Analyst, or HRWorks@judicial.state.co.us for additional questions.Consult the employee action sheet that describes the requirements of employees. ................
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