Subject

CUNY Health Benefits Buy Out Waiver Program for the Payment Cycle of 1/1/05 - 6/30/05

Purpose

To explain procedures for entering payments in the Time Entry page.

Affected Employees

CUNY employees who elect to participate in the Health Benefits Buy Out Waiver Program and are also designated on the Buy Out Waiver Listing submitted by the CUNY University Benefits Office.

Background

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 direct deposit advice dated July 7, 2005, Pay Period 7C.

Agency Payment Processing Instructions

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

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 paycheck stub or direct deposit advice.

Questions

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