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Date: October 26, 2017

Bulletin Number: DH-88

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Subject 2017 RRSU Over40 Comp Time II Cash Out

Purpose To provide the Division of Housing and Community Renewal instructions for processing the 2017 RRSU Over40 Comp Time II Cash Out.

Affected Employees Employees in the Rent Regulations Services Unit – BU67 who have opted to participate in the Over40 Comp Time II Cash Out program.

Background Pursuant to a side letter contained in the 2011-2016 Agreements between the State of New York and the District Council 37 (DC-37), employees are permitted to cash out up to 120 hours of accrued Over40 Comp Time II credits in each year of the program.

The Governor’s Office of Employee Relations (GOER) Memorandum dated October 3, 2017 provides additional information.

Effective Date(s) The 2017 RRSU Over40 Comp Time II Cash Out should be paid using the following Effective Date and Check Date:

Pay Period

Effective Date

Check Date

Administration Pay Period 16L

11/02/17

11/29/17


Eligibility Criteria Employees who have accrued Over40 Comp Time II credits are eligible to cash out up to 120 hours once per year.  Employees do not need to be currently enrolled in the Over40 Comp Time II program or be currently employee in an eligible position to participate in the annual cash out.

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

Agency Actions To pay the 2017 RRSU Over40 Comp Time II Cash Out to eligible employees, agencies must submit the following information on the Time Entry page or the Time Entry Interface (NPAY502) using Earnings Code DH4 (for Hourly employees) or Earnings Code D40.

Earnings Begin Date:

11/02/17 or last day the employee is Active

Earnings End Date:

Same as Earnings Begin Date

Earn Code:

D40 or DH4

Hours:

Number of hours to be paid


Miscellaneous Payment Information

The RRSU Over40 Comp Time II Cash Out 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 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 in PayServ.

Payroll Register and Employee’s Paycheck/Advice The appropriate Earnings Code and the amount paid will be displayed on the Payroll Register.  The appropriate Earnings Description and the amount paid will appear on the employee’s paycheck stub or direct deposit advice.

D40

Over 40 Cash Out

DH4

Over 40 Hourly Cash Out


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

Questions regarding tax information may be directed to the Tax and Compliance mailbox.