To inform agencies of the procedures for the payment of the Over 40 Compensatory Time II Cash Out for eligible employees.
Employees in the following bargaining units who have opted to participate in the Over 40 Compensatory Time II program:
|Division of Military & Naval Affairs||BU47|
|Public Employees Federation||BU05|
|Rent Regulation Services Unit||BU67|
In accordance with the terms of the Over 40 Comp Time II program negotiated with CSEA, PEF and RRSU, employees are permitted in October of each year of the program to elect to cash out up to 120 hours of accrued Over 40 Comp Time.
For additional Information regarding the Over 40 Comp Time II programs, please refer to:
- GOER side letters issued in conjunction with the 2007-2011 CSEA, PEF and RRSU agreements.
- GOER Memo 2009-7 to agency Directors of Human Resources dated March 13, 2009.
Administration Pay Period 16L, paychecks dated 11/25/09
Institution Pay Period 17L, paychecks dated 12/3/09
- The maximum number of hours an employee may accrue under the Over 40 Compensatory Time II program is 240.
- Employees may cash out up to 120 hours of accrued Over 40 Compensatory Time once per year, payable at the rate of pay earned at the time of liquidation.
- Employees are not required to be currently enrolled in a program year in order to participate in the annual cash out for that program year, provided the employee has accrued Over 40 Compensatory Time II credits on their time record.
The agency must enter the following information on the Time Entry page to pay the Over 40 Compensatory Time II Cash Outfor CSEA, PEF and RRSU employees.
|Earnings Begin Date:||Last day of 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 Earnings Begin Date.|
|Earn Code:||D40 or DH4|
|Hours||Enter the number of hours to be paid.|
Payroll Register and Employee Paycheck/Advice
The Earnings Code D40 or DH4 will appear on the payroll register. The Earnings Code description will appear on the employee’s paycheck stub or direct deposit advice.
Questions about this bulletin may be e-mailed to the Payroll Audit mailbox.