Purpose
To explain procedures for entering payments into the Time Entry page.
Affected Employees
CUNY employees who elect to participate in the Health Benefits Buy Out Waiver Program and are also designated on the Buy Out Waiver Listing submitted by the CUNY University Benefits Office
Effective Date(s)
Payment will be included in the employee’s regular paycheck or direct deposit advice dated January 14, 2010
Background
The Health Benefits Buy Out Waiver Program is authorized under IRC Section 125 and administered under the Medical Spending Conversion Program.
Agency Payment Processing Instructions
To pay eligible employees, use the Earn Code HBB and enter the following information into the Time Entry page:
| Earnings Begin Date: | Enter the last date of the pay period. |
| Earnings End Date: | Enter the last date of the pay period. |
| Earnings Code: | Enter HBB. |
| Amount: | Enter the amount designated by the Buy Out Waiver Listing. |
Note:The maximum payment amount is $500.00.
Payroll Register and Employee’s Paycheck/Advice
The Earn Code HBB and the amount paid will be displayed on the payroll register. The earnings description “HB Buyout” and the payment amount will appear on the employee’s paycheck stub or direct deposit advice statement.
Questions
Questions about processing transactions may be e-mailed to the Non-Executive Audit mailbox.