HR Update is a way for MOSERS to communicate benefit news and updates with human resource and payroll representatives. Check back often and sign up to receive our emails. 

Timely Comp Time Payouts Increase Accuracy

Jun 15, 2023, 08:34 AM by MOSERS

Payments of unused compensatory leave time, or comp time payouts, to benefit-eligible employees made before or after an employee’s termination are included in retirement-eligible pay and are eligible for salary credit provided contributions are remitted to MOSERS for the payment.  

Since comp time payouts may impact the calculation of an employee’s pension benefit, it is beneficial to pay out unused comp time before or with an employee’s final paycheck. A delayed comp time payout could result in an incorrect benefit estimate or pension check and could require MOSERS to recalculate a retiree’s pension.


Topics


Archive