Employer Makes Changes to Supplemental Payments Process
January 25, 2008
Beginning in May, 2008 any supplemental payments you might receive, such as reimbursement for travel, overtime, retroactive pay etc., may be directly deposited to a bank account – of your choice. This means it does not have to be the same account into which your regular pay is deposited.
When the system comes into effect, the supplementary payments will be automatically deposited to the same account as your regular pay. (It will be mandatory for all employees who have direct deposit for regular pay.) If you wish to have these payments deposited into another account, you will need to speak to your compensation officer.
The employer hopes that this new service will eliminate lost or stolen cheques, and make payment of employees more convenient and timely, by eliminating the need for employees to deposit supplementary cheques at their bank. Obviously, this process will serve to reduce the number of cheques produced, and will eliminate lost or stolen cheques.