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RamTech, in partnership with University Human Resources (UHR), offers full-time Virginia Commonwealth University (VCU) faculty and staff a Payroll Deduction* program to assist them in purchasing technology products from RamTech (computers, printers, etc.).
This interest-free program will enable qualified employees of VCU to spread out payments over a mutually agreed to number of pay periods. All payments will be deducted automatically from the participating employee’s paycheck.
*Payroll Deduction is only available in-store at RamTech. Stop by the store and ask a sales associate for details.
Criteria for Eligibility
The following conditions must be met for a purchase to be eligible for the RAMTECH Payroll Deduction Program:
- Purchaser must be a full time VCU employee in good standing with VCU and have no work performance issues at time of purchase. Please note that the following employee classifications are not considered full time employees: Adjunct Faculty, Student Workers, Work Study Students, Contractors, Hourly Employees and Affiliates (non employees).
- After paying 10% of the total value of the transaction at the time of purchase (down payment), the total amount to be deducted from payroll, including all purchases, must be between $150.00 and $2,500.00.No more than one open transaction is allowed at a time. A current RAMTECH payroll deduction must be paid in full before a subsequent RAMTECH payroll deduction may be permitted to begin.
- The RAMTECH payroll deduction amount for each individual pay period must be between $25 and $250.
- The payroll deduction plan may not extend beyond a period of 24 pay periods or 1 year per transaction.
- There are NO RETURNS OR EXCHANGES on products purchased via payroll deduction.
- Product eligibility and individual participation in the Payroll Deduction program is subject to review by RAMTECH and may be declined for any reason.
Payroll Deduction Program Terms
- Payroll Deduction payments will begin on the first pay period after the date of purchase, and will continue until the purchase is paid in full.Payments may not be skipped, reduced, or delayed for any reason.
- Equal payment amounts will be deducted from each paycheck.
- The remaining purchase balance can be paid off in FULL at any time by visiting RAMTECH at 930 W. Grace Street, Richmond, VA 23220. RAMTECH does not accept cash, checks, or money orders.
- Termination of employment at VCU does not change or remove an employee’s obligation to pay the balance due to VCU as a result of a RAMTECH purchase.If an individual is no longer employed by the Virginia Commonwealth University before the completion of the Payroll Deduction, the FULL REMAINING AMOUNT will be due and payable immediately. The final Payroll Deduction amount will include any payoff balance due. If sufficient funds are not adequate from the final Payroll Deduction, any REMAINING AMOUNT DUE (plus fees, etc. as appropriate) will be due and payable immediately to Virginia Commonwealth University.
- Enrollment in the RAMTECH Payroll Deduction Program in no way alters or lessens the purchase price of any products, and the purchase will remain an open transaction until the purchase amount is paid in full.
- If a balance remains unpaid when due, the university may utilize collections procedures to obtain the amount due.This may include referral to the Commonwealth of Virginia’s Office of Attorney General or a private debt collection agency.