To inform agencies of the creation of Reason Codes TRI and NPR.
All employees who elect to retire under the 2010-11 Retirement Incentive Program
Chapter 105 of the Laws of 2010 authorized a two track Retirement Incentive Program intended to achieve permanent financial savings. The Retirement Incentive Program includes a Targeted Retirement Incentive and a “55/25 No Penalty” Retirement Incentive. The open period of the Retirement Incentive Program is 7/1/10-9/28/10.
In order to track and monitor the program, OSC has created two new Reason Codes to be used by agencies to report retirement transactions in PayServ that fall under the program.
For additional information on the Retirement Incentive program, please refer to Budget Bulletin B-1190 issued on June 3, 2010.
The open period of the Retirement Incentive program is 7/1/10-9/28/10
OSC has created two new Reason Codes to be used on Job Data to report retirements as a result of the Retirement Incentive Program:
|TRI||Targeted Retirement Incentive||Identifies employees who retire under the Targeted Retirement Incentive|
|NPR||No Penalty Retirement Incentive||Identifies employees who retire under the “55/25 No Penalty” Retirement Incentive|
Agencies must select the correct Retirement Incentive Reason Code when submitting transactions for employees who retire under the 2010-11 Retirement Incentive Program.
Existing Reason Codes must be used for employees whose retirements are not a result of the Retirement Incentive Program.
Questions about these Reason Codes may be directed to the Payroll Audit mailbox.