Tuesday, July 24, 2007

LASERS-Did you know?

Most state agencies are required by law to pay an employee 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).