10.2.2  Payments to New W-2 Participants

When a new participant starts a W-2 job, the timing and amount of their first payments depend on their placement date.

1.             If the placement date falls on or between the 1st and the 15th of the month:

·        The participant will receive a prorated payment for that month, issued in the monthly W2P.

·        Starting the following month, the participant will receive their full monthly payments issued in W2P for each full participation period.

2.             If the placement date falls on or between the 16th and the last day of the month:

·        Their first payment will be prorated and split into two parts:

·        The first partial payment will be issued in the monthly W2L payment, covering participation from the placement begin date to the end of that month.

·        The second partial payment will be issued in the W2P payment, covering participation from the 1st to the 15th of the next month.

·        After these initial payments, the participant will receive their full monthly payments issued in W2P for each full participation period.

 

EXAMPLE 1: Placement between the 1st and the 15th of the Month

 

EXAMPLE 2: Placement between the 16th and the End of the Month

 

 

History: Release 24-13;