Post by Logan on Apr 25, 2016 4:15:39 GMT -6
California state workers, want extra money? Cash out some leave
If it’s April, it must be close to cash-out time for thousands of state employees with paid leave on the books.
Starting May 1, most non-union employees and unionized state workers in one of six bargaining units can trade up to 80 hours of accrued leave for money paid at their current salary rate, according to memos issued this week by the Department of Human Resources.
The first catch: State and federal taxes withheld on cashed out leave totals nearly 40 percent.
Ouch.
The second catch: Departments must pull the money out of existing funds. No loose change in the budget, no extra dough for employees.
Read more here: www.sacbee.com/news/politics-government/the-state-worker/article73131402.html#storylink=cpy
Read more: www.sacbee.com/news/politics-government/the-state-worker/article73131402.html
If it’s April, it must be close to cash-out time for thousands of state employees with paid leave on the books.
Starting May 1, most non-union employees and unionized state workers in one of six bargaining units can trade up to 80 hours of accrued leave for money paid at their current salary rate, according to memos issued this week by the Department of Human Resources.
The first catch: State and federal taxes withheld on cashed out leave totals nearly 40 percent.
Ouch.
The second catch: Departments must pull the money out of existing funds. No loose change in the budget, no extra dough for employees.
Read more here: www.sacbee.com/news/politics-government/the-state-worker/article73131402.html#storylink=cpy
Read more: www.sacbee.com/news/politics-government/the-state-worker/article73131402.html