Monday, January 8, 2007

LASERS-Did you know?

Most state agencies are required by law to pay a member up to 300 hours of annual leave at retirement. Payment for 300 hours is based on the member's hourly rate at termination.

For most members; you have 2 choices related to the balance of your annual and sick leave:

- convert to retirement service credit
- be paid a lump sum actuarially reduced payment for the leave (you must be terminated from state service for thirty days before receiving the lump sum).