5.4 | Paydays

Who doesn’t like payday?! All entrepreneurs are paid semimonthly, on the 1st and 16th of every month. In the event the payday lands on a weekend or holiday, entrepreneurs will be paid the business day prior. All paychecks are virtual, distributed via direct deposit to the entrepreneur ’s bank account as set up through ADP Workforce Now during Rookie Initiation.

Payroll deductions will be made as required by applicable state and federal law, such as for the following amounts: FICA (Social Security), Medicare, federal and state income tax, and State Disability Insurance and Paid Family Leave. Other deductions may require an entrepreneur ’s written authorization.  Examples of additional deductions include deductions for an entrepreneurs portion of any insurance premiums, retirement plan contributions or Dream Fund allocations.

Common Thread Collective strives to comply with all applicable laws regarding payment and deductions from wages. If an entrepreneur  believes there is a discrepancy in his or her payment amount, he or she should notify the Finance Department immediately.  Common Thread Collective will undertake a prompt investigation, and if a discrepancy is found, Common Thread Collective will make prompt repayment of any amounts due to the entrepreneur. Common Thread Collective will also take the necessary steps to ensure proper calculation of pay amounts going forward.