10.2.2  Payments to New W-2 Participants

When and how a new participant receives the first few W-2 payments depends upon when he or she is placed in a W-2 employment position.

If the W-2 Placement Begin Date falls on or between the 1st and the 15th of the month, a prorated initial payment is issued in the monthly W2P. The second and subsequent payments cover full participation periods and are also issued in W2P at the end of the following month.

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

If the W-2 Placement Begin Date falls on or between the 16th and the last day of the month, a prorated initial payment is issued in two parts. The first payment is issued in the monthly W2L for participation completed from W-2 Placement Begin Date until the last day of the month.  The second payment is issued in W2P for participation completed from the 1st through the 15th of the next month. The third and subsequent payment covers a full participation period and is also issued in W2P.

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

 

 

History: There are no previous versions of this policy.