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Deferred Payment Plan

Deferred Payment Plan

Teachers, who choose to establish an OCPS Deferred Payment Plan, the process has changed. It is now available by accessing  MyOCPS ->Employee Self-Service ->Payment ->Deferred Payment. This process must be completed from July 31, 2024 – August 9, 2024 to ensure the payment is effective on the first scheduled check of the school year. This process must also be completed if you want to change the amount deducted, if you termed due to a change in work location, are on a temporary contract, you termed employment and are returning to OCPS, or returning from a leave of absence.  Teachers currently enrolled in the deferred payment plan will retain the deferral status if it is not changed on the MyOCPS/Employee-Self Service Portal.

Employees must complete the Deferred/Non-Deferred Payment online process to ensure enrollment in the deferred payment plan if any of the following apply: 

  • New Teachers
  • Teachers on Temporary Contract
  • Teachers Termed at the End of the Previous School Year

The system calculates the deferred deduction based on a full period pay for each check.

  • This employee selects: Period Pay: Deferred Deduction

    11% of Gross Pay $2002.72 $ 220.30

    12% of Gross Pay $2002.72 $ 240.33

    13% of Gross Pay $2002.72 $ 260.35

    14% of Gross Pay $2002.72 $ 280.38

    Image of a paycheck summary detailing earnings and deductions for a pay period, including current and year-to-date totals. 

    Exceptions: If the net check after all deductions (including taxes, insurance deductions, TSA, credit union, etc.) is less than the calculated deferred deduction, there will not be a deferred deduction on that check. 

    It is the employee’s responsibility to review each paycheck to ensure a deferred payment has been deducted throughout the fiscal year. The deductions will appear as listed below:

     A paycheck summary showing earnings, deductions, and net pay, highlighting discrepancies in deferred deductions. 

    Note: This example is based on 11% of $1566.68. The deferred deduction would have been $172.33 which is more than $140.52. This resulted in no deferred deduction.

    • Deductions: The deferred check is a net payment. No deductions will be taken.
    • Garnishments: Garnishments will not be deducted from the deferred paycheck. Employees are responsible for complying with all court ordered obligations that are not deducted from their paychecks and must remit all payments during the summer months.

    • Teachers may choose the percentage to be deferred – 11%, 12%, 13% or 14% - of the gross contract salary.

    • As deferred holdback deductions are made from an instructional employee’s payroll check, a balance will be reflected on the pay stub. Therefore, an instructional employee will always know the amount of the deferred holdback to be paid out at the end of the year. 

    • Teachers will receive a lump sum deferred paycheck at the end of the school year. This will be a net paycheck, not subject to any deductions, including taxes. 

    • Teachers may sign up for the deferred pay plan anytime during the school year. Teachers may change the deferred status one time each fiscal year. This change may be to enroll, drop or change the percentage plan option. If a withdrawal of these funds is requested due to a financial hardship, this will be considered the one time change. The employee will then be reclassified to a non-deferred status. A new form must be completed at the beginning of the next fiscal year if the employee wants to resume the deferred pay plan.

    • Teachers may use the Payroll website Deferred Calculator for assistance in determining what percentage to holdback for the deferred pay plan.

    • Please verify your chosen percentage on your first paycheck by multiplying your gross wages by the percentage that you chose.

If your percentage is incorrect, submit a new Deferred/Non-Deferred Payment form on MyOCPS! 

  • Addition Financial also offers all OCPS employees a deferred payment plan. This plan will allow employees to save money in an interest bearing account with as little as $20.00 per pay period. This money is accessible during the summer months when you need it most!  Click this link

If you have any questions, please call Payroll Services at 407.317.3260.

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