Important Announcement for the Transition of Summer Pay

Effective for school year 2009-10 Montgomery County Public Schools (MCPS) will transition the summer pay program to Montgomery County Teachers Federal Credit Union (MCT). The program will operate much like the MCPS program, but interest will be paid to participants on their deposited money.

Participants have the option of remaining with the MCPS program until August, 2009 or transitioning early to the MCT program. An early transition involves the withdrawal of funds from the MCPS program and depositing the funds to MCT. Until January 31, 2009 there is no penalty charged to participants for the early withdrawal of money.

Frequently Asked Questions

MCT Summer Pay Letter to MCPS Employees

Additional Information on partnering with MCT

Payments for employees enrolled for the 2008-2009 school year will be made on July 2, July 17, July 31, August 14, and August 28, 2009.

General Information

Enrollment in the ten-month summer pay option for the 2008-2009 school year begins 
July 1, 2008. No enrollments or changes will be accepted after Dec. 31, 2008. Enrollments received and processed after September 15, 2008 will not receive the full 20 deductions.

Participants in the summer pay option have a designated portion of their net salary withheld from 20 paychecks during the school year.

The amount withheld is paid to the employee in five equal installments during July, August, and September. No taxes or miscellaneous deductions are withheld from the five summer payments.

To enroll in the summer pay option program or make changes to your existing agreement for next year, please complete an authorization form and indicate the amount to be deducted from each paycheck.

Forms

Summer Pay Cancellation Form

Direct Deposit Form and Frequently Asked Questions

MCT Membership Application

Updated March 3, 2009 | Contact webmaster