Date: December 15, 2004 Bulletin Number: CU-216

CUNY Buy Out Waiver Program for the Payment Cycle of 7/1/04 - 12/31/04

To explain procedures for entering payments into the Time Entry page.
Affected Employees
CUNY employees who elect to participate in the Buy Out Waiver Program and are also designated on the Buy Out Waiver Listing submitted by the CUNY University Benefits Office.

The Health Benefits Buy Out Waiver Program is authorized under IRC Section 125 and administered under the Medical Spending Conversion Program.

Effective Date(s)
Payment will be included in the employee’s regular paycheck or advice dated January 6, 2005, Pay Period 19L/20C.

Agency Payment Processing Instructions

To pay eligible employees, use the Earn Code HBB and enter the following information into the Time Entry page:

Earnings Begin Date: Enter the last date of the pay period
Earnings End Date: Enter the last date of the pay period
Earnings Code: Enter HBB
Amount: Enter the amount designated by the Buy Out Waiver Listing.

Note: The maximum payment amount is $500.00.

Payroll Register and Employee’s Paycheck/Advice
The Earn Code HBB and the amount paid will be displayed on the payroll register. The earnings description “HB Buyout” and the payment amount will appear on the employee’s pay stub or advice.

Questions regarding this bulletin may be directed to the University Manager of Payroll Systems and Operations at CUNY Central Office.