UW–Madison employees who are transitioning from “exempt” to “non-exempt” status on January 1, 2020, as a result of changes in the Fair Labor Standards Act (FLSA), will also be transitioning from a monthly pay date to bi-weekly pay dates. Although overall pay is not changing, the transition may cause some cash flow challenges in early February, when rent and other bills may be due. The biweekly paycheck results in a smaller amount compared to the former monthly paycheck.
To address possible challenges with this transition, UW–Madison will offer financial assistance to affected employees in the form of short-term, interest-free loans.
- Loans for non-student employees are available in amounts up to $500. The loans will be paid back via payroll deduction. Those who are interested should contact their department or division human resources representative.
- Graduate Assistants (graduate student program/project assistants) may receive loans of up to $1,000 from the Dean of Students Office. Please visit the Dean of Students Office website for more information and an application form.
Anyone who is interested in a short-term, interest-free loan to assist with the transition to non-exempt status under the FLSA should apply by the January 24, 2020 deadline.