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Date: June 24, 2010

Bulletin Number: 999

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Subject

New Retirement Incentive Program Reason Codes

Purpose

To inform agencies of the creation of Reason Codes TRI and NPR.

Affected Employees

All employees who elect to retire under the 2010-11 Retirement Incentive Program.

Background

Chapter 105 of the Laws of 2010 authorized a two track Retirement Incentive Program intended to achieve permanent financial savings.  The Retirement Incentive Program includes a Targeted Retirement Incentive and a “55/25 No Penalty” Retirement Incentive.  The open period of the Retirement Incentive Program is 7/1/10-9/28/10.

In order to track and monitor the program, OSC has created two new Reason Codes to be used by agencies to report retirement transactions in PayServ that fall under the program.

For additional information on the Retirement Incentive program, please refer to Budget Bulletin B-1190 issued on June 3, 2010.

Effective Date(s)

The open period of the Retirement Incentive program is 7/1/10-9/28/10.


OSC Actions

OSC has created two new Reason Codes to be used on Job Data to report retirements as a result of the Retirement Incentive Program:

Code

Description

Purpose

TRI

Targeted Retirement Incentive

Identifies employees who retire under the Targeted Retirement Incentive

NPR

No Penalty Retirement Incentive

Identifies employees who retire under the “55/25 No Penalty” Retirement Incentive

 

Agency Actions

Agencies must select the correct Retirement Incentive Reason Code when submitting transactions for employees who retire under the 2010-11 Retirement Incentive Program.

Existing Reason Codes must be used for employees whose retirements are not a result of the Retirement Incentive Program.

Questions

Questions about these Reason Codes may be directed to the Payroll Audit mailbox.