Affected Employees
Employees in the following bargaining units who have opted to participate in the Over40 Comp Time II program:
| Administrative Services | BU02 |
| Operational Services | BU03 |
| Institutional Services | BU04 |
| Division of Military & Navel Affairs | BU47 |
| Professional, Scientific & Technical Services | BU05 |
| Rent Regulations Services | BU67 |
Background
Pursuant to GOER Memo 2011-15 to agency Directors of Human Resources dated October 7, 2011 and various contracts, eligible employees may elect to cash out up to 120 hours of accrued Over40 Comp Time credits.
Payment Amount/Eligibility:
Over40 Comp Time can be accumulated to a maximum of 240 hours.
An employee may cash out up to 120 hours of accrued Over40 Comp Time once per year.
The payment is calculated at the straight time rate based on the employee’s salary at the time of liquidation.
Employees are not required to be currently enrolled in the Over40 Comp Time II program or currently employed in an eligible position in order to participate in the annual cash out.
Most Recent Payroll Bulletin: Payroll Bulletin 1273 Revised 10/10/13
Contracts:
CSEA Administrative Services Unit (Bargaining Unit 02)
CSEA Operational Services Unit (Bargaining Unit 03)
CSEA Institutional Services Unit (Bargaining Unit 04)
Professional, Scientific and Technical Services Unit (Bargaining Unit 05)