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Reminders:

1. Send the separation Service Request System (SRS) ticket w/ completed and approved timesheet to HR as early as possible.

  • This is to meet a June 21 check write date for payment on June 29.

2. Include the correct separation date on the SRS ticket.

  • Retirees are counseled on the most beneficial separation date. Employees retiring effective July 1 are encouraged to use a June 29 separation date in order to have a one-day break in service before they begin receiving retirement benefits. Managers should confirm with the retiree what separation date to use on the SRS ticket. This is especially true if the employee is retiring effective July 1, 2017, and they have communicated a separation date other than June 29.   

3. Timesheets need to be completed and approved before sending the ticket to TSU.

  • In order for TSU to calculate the final check for separating employees they must know what hours the employee worked and what leave they took in the days leading up to their separation. Managers should work with their separating employees to do a best estimate of the time they will work through the end of their last pay period.     
  • For biweekly paid employees managers will need to estimate time and approve timesheets for the pay period 6/18/17 through 6/30/17.  
  • For monthly paid employees managers will need to report leave taken between 6/1/17 and 6/30/17. 

4. Remind employees to visit Fidelity to make any changes to their UC Retirement Savings Program before June 14.

  • Employees wishing to defer income from their “vacation payout” to a tax-deferred retirement savings plan may elect to start, change, or increase their voluntary contributions to a UC Retirement Savings Program. Contribution elections are subject to payroll deadlines and maximum allowable contributions (MAC).  
  • Employees may still make changes to their 403(b) plan and have those changes take effect in time for the calculation of their final check if they make the changes by 5 p.m. on June 14, 2017.
  • Employees may no longer make changes to their 457(b) plan. According to IRS rules, enrollment in the 457(b) Plan cannot go into effect immediately. Changes must be made by 5 p.m. on the last business day of the month for next month’s earnings. For example, if you enroll or change your 457(b) contribution in May, the enrollment or change is reflected in June earnings.

Please contact Esther Carmona or Kuan Yee with questions.