| Important Dates to
Remember
-
To be eligible to receive a longevity award, you must
retire after the March 31 eligibility date. Retirements are
processed at the start of the workday and if you make March 31 your
retirement date, you will lose the last longevity award.
-
Be mindful of the effective dates of upcoming salary
increases. Although we often refer to raises being paid on April 1,
the actual effective date of the raise varies from year to year. In
each year, the effective date is also different for the Institution and
Administrative Payroll.
Upcoming Effective Dates of Raises (See
Salary Schedules)
-
2009: March 26 (Institutional) and April 2, 2009
(Administrative)
-
2010: March 25 (Institutional) and April 1, 2010
(Administrative)
While a short delay in your retirement date will have only
a small impact, if any, on your final average salary, waiting until after
the raise is implemented will increase the value of a "day" for
calculating the value of accrued but unused time. You can increase
the value of your vacation payout, the value of sick leave used to offset
your health insurance cost, and the value of the lump-sum salary deferral
(5 day lag) by planning your retirement date carefully.
|
|
Retirement Planning
GOER Work Life Services
OSC State
and Local Retirement System
Attendance and Leave Manual
Payment for Accruals Upon Separation
PEF
Retirees Organization |
|
