Instructions for how agencies Opt-in to participate in the Annual Leave Conversion Payout is now available to. This job aid provides step-by-step instructions for agencies to follow to Opt-In and exclude departments if applicable.
· Employees make an irrevocable election to convert annual leave to a cash payout for FY 2023. Employees paid through TeamWorks may confirm their eligibility and elect to participate in the ALCP program for FY 2023 via an online form within TeamWorks.
· Agencies not using TeamWorks for payroll must notify their employees of their eligibility to participate in the program and provide an ALCP election form for employees to complete and return to their payroll departments to process their payouts.
· Payout amounts are based on employee base salary hourly rate. ALCP earnings will be classified as a supplemental wage payment and subject to federal income tax withholdings at a flat 22% rate in addition to standard state income and federal payroll taxes.
· Depending on date of election, employees paid through Teamworks will receive payment on either the May 16th or May 31st paycheck.