Subject |
CUNY Health Benefits Buy Out Waiver Program for the
Payment Cycle of 1/1/06 - 6/30/06
|
Purpose |
To explain procedures for entering payments into
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 6, 2006, Pay
Period 7C.
|
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
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. |
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