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Date: November 23, 2015

Bulletin Number: CU-520

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Subject

2015 Executive Compensation Plan (ECP) Vacation Exchange Program

Purpose

To provide agency instructions for processing the ECP Vacation Exchange payment.

Affected
Employees

Employees in the City University of New York (CUNY) Executive Compensation Plan who meet the eligibility criteria.
Background

Section 12.2 of the Terms and Conditions of Employment for Staff in the Executive Compensation Plan allows ECP staff members to exchange up to five (5) days of accrued annual leave for an equivalent amount of cash calculated on the ECP staff member’s rate of pay on 10/01/15.

In addition, a memorandum dated 6/17/2015 from Executive Vice Chancellor Allan H. Dobrin authorizes the 2015 Vacation Exchange Program.

Effective Date(s)

The 2015 ECP Vacation Exchange payment should be processed in Institution Pay Period 17L/18C, paychecks dated 12/10/15. 

Eligibility Criteria and Payment Criteria

Employees who meet the following criteria are eligible to receive the ECP Vacation Exchange payment.

  • Must be an ECP staff member some time during the election period which begins 06/22/15 and continues through 07/30/15.
  • Must have at least thirty-five (35) days of accrued annual leave at the time of election during the election period and on 08/31/15.
  • Must be Active in the ECP as of the date on which payment is made.

Eligible employees may elect to exchange from one (1) to five (5) days of accrued leave.  The payment is calculated on the employee’s annual salary (not including additional salary factors) as of 10/01/15.

Agency Actions

To pay the Vacation Exchange payment to eligible employees, agencies must submit the following information on the Time Entry Interface (NPAY502) or the Time Entry page using Earnings Code EVE.

Earnings Begin Date:

10/01/15

Earnings End Date:

10/01/15

Earn Code:

EVE

Days:

Number of days to exchange


Errors and warning messages are communicated to the agency via Control-D report NPAY502 (Warnings/Rejected Time Entry Transactions:  Univ Management & Programs) and must be manually updated in PayServ as necessary.

Miscellaneous Payment Information

The ECP Vacation Exchange payment is pensionable but is not included in the calculation of overtime.

Tax Information

These monies are taxable income, will be included in the employee’s taxable gross and are subject to all employment taxes and income taxes.  Income taxes will be calculated using the employee’s current Tax Marital Status and Withholding Allowances on the Update Employee Tax Data page.

Payroll Register and Employee’s Paycheck/Advice

The Earnings Code EVE and the amount paid will be displayed on the Payroll Register.  The Earnings Description ECP Vacation Exchange CUNY and the amount paid will appear on the employee’s paycheck stub or direct deposit advice.

Questions

Questions regarding this bulletin may be directed to the Payroll Earnings mailbox.