NEWS

Paid Leave Buy-Back Program Enhanced – Options for Savings Plan or Cash Payout

Posted: 12/9/2016 Tags: benefits policy Tags Views: 1137 Print:

The California Department of Human Resources (CalHR) has authorized an enhancement to the Paid Leave Buy-Back Program for fiscal year 2016-17 in PML 2016-032. Employees designated as Exempt, Managerial, Supervisory, Confidential, or otherwise excluded from collective bargaining are able to participate. If an employee has vacation or annual leave balances in excess of 640 hours as of December 1, 2016, the employee has the option to transfer accruals into a Savings Plus 457(b) account, transfer accruals into a 401(k) account, or request a cash payment. This enhancement to the Excluded Employee Leave Buy-Back Program allows employees another option when using the 80 hours of leave buy-back proposed and obtained by ACSS in April 2016.

Eligible employees can elect to participate by completing the Transfer Future Leave Accruals to Savings Plus form and returning it to Human Resources by December 31, 2016. No action is required if you do NOT elect to participate.

For more information, download the FAQ provided by CalHR.




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