Thursday, August 2, 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)