HR Update is a way for MOSERS to communicate benefit news and updates with human resource and payroll representatives. Check back often and sign up to receive our emails. 

  • Timely Comp Time Payouts Increase Accuracy

    Jun 15, 2023, 8:34 AM By MOSERS

    Payments of unused compensatory leave time, or comp time payouts, to benefit-eligible employees made before or after an employee’s termination are included in retirement-eligible pay and are eligible for salary credit provided contributions are remitted to MOSERS for the payment.  

    Since comp time payouts may impact the calculation of an employee’s pension benefit, it is beneficial to pay out unused comp time before or with an employee’s final paycheck. A delayed comp time payout could result in an incorrect benefit estimate or pension check and could require MOSERS to recalculate a retiree’s pension.

  • The Importance of Comp Time Pay on Pension Benefits

    Oct 14, 2020, 10:14 AM By MOSERS

    If you have an employee nearing retirement, it is beneficial to pay out any compensatory time balances before or with the employee’s final salary payment. Since this pay may impact the final average pay (FAP) calculation for retirement purposes, a delayed compensatory time payout could result in the employee receiving an incorrect benefit estimate or their first benefit check.

    After receiving information on a compensatory time payout, MOSERS must obtain information from you to allocate the pay to the months earned for the calculation of the FAP. Having this information as early as possible will help to make the retirement process as smooth as possible.