State Agencies Bulletin No. 1273

Subject
2013 CSEA and PEF Over40 Comp Time II Cash Out
Date Issued
October 10, 2013

Purpose

To provide agency procedures for processing the payments.

Affected Employees

Employees in the following bargaining units who have opted to participate in the Over40 Comp Time II program:

Administrative Services BU02
Operational Services BU03
Institutional Services BU04
Division of Military & Naval Affairs BU47
Professional, Scientific & Technical Services BU05

Background

In accordance with the Over40 Comp Time II program negotiated with CSEA and PEF, employees are permitted in each year of the program to elect to cash out up to 120 hours of accrued Over40 Comp Time credits.

For additional Information regarding the Over40 Comp Time II programs, please refer to the GOER Memo 2013-11 to agency Directors of Human Resources dated October 7, 2013.

Effective Date(s)

Institution Pay Period 16L and 17C, paychecks dated 11/27/13
Administration Pay Period 17L and 18C, paychecks dated 12/04/13

Eligibility Criteria

Over 40 Comp Time can be accumulated to a maximum of 240 hours.

An employee may cash out up to 120 hours of accrued Over40 Comp Time once per year.

The payment is calculated at the straight time rate based on the employee’s salary at the time of liquidation.

Employees are not required to be currently enrolled in the Over40 Comp Time II program or currently employed in an eligible position in order to participate in the annual cash out.

Agency Actions

The agency must enter the following information on the Time Entry page to pay the Over40 Comp Time II Cash Out for CSEA and PEF employees.

Earnings Begin Date: Last day of the pay period being paid or the last day the employee is in Active status if the employee is on a leave at the time of payment.
Earnings End Date: Same as the Earnings Begin Date
Earn Code: D40 or DH4
Hours: Enter the number of hours to be paid.

Questions

Questions about this bulletin may be directed to the Payroll Earnings Mailbox.