Pay All Year
Are you a Baltimore City employee with a ten-month pay period? It's easy to stretch your paychecks throughout the year with a Pay All Year (PAY) Savings Account.
This account helps Baltimore City teachers and paraprofessionals budget for the summer months. You select the amount you want to save throughout the year, then during the summer months you receive the amount accrued in four equal amounts.
Example of how PAY Savings works:
|Amount saved each pay period during the school year
||Amount available in the summer bi-weekly pay*
* You will automatically receive a transfer to your MECU Share Savings Account four times during the summer. Payments begin two weeks after the last regular pay.
See Truth in Savings for full disclosure.