|Changes to the Payroll System for the March 2010 RG1 pay cycle:|
Early Retirement Payoffs:
A new earnings type has been added to the payroll system known as VRP for Voluntary Retirement Payoff to facilitate lump sum payments of $23,270 for those members of a Department of Retirement System managed retirement plan who completed the agreement for the VRIP Voluntary Retirement Incentive Program approved by the Board of Regents in January 2010. VRP earnings are subject to federal income taxes, OASI and Medicare taxes.
Please contact Alice Smethurst at (509) 335-1277 or firstname.lastname@example.org if there are any questions.