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Leave Payout Information  - Nonrepresented Employees
If eligible, you will receive a leave payout of unused annual and personal leave in your last paycheck.  
Employees may be eligible for a payout of their sick leave upon retirement. You must begin to draw a monthly lifetime retirement annuity within 90 days of separation. Below is the criteria for payment of sick leave. 
 
Sick Leave Payout Eligibility:
Retirement Age
Years of Service
Type of Service
60 or above
5
Credited service* in retirement plan
Prior to 60
25
Credited service* in retirement plan
Any age
5
Credited service* in retirement plan & approved Disability retirement
*Credited service includes years of service credited by retirement plan (SERS, PSERS or ARP).  May include purchased service.
 
Sick Leave Payment Schedule
Days Available at Retirement
Percentage Buy-Out
Maximum Days
0-100
30%
30
101-200
40%
80
201-300
50%
150
Over 300
100% of days over 300
15
 
Tax Deferring Your Sick and Annual Leave Payout:
The Commonwealth of Pennsylvania contracts with Empower Retirement, the retirement business of Great West Financial serving as the administrator for the deferred compensation 457 plan.
 
Requirements:
1.         You must enroll and be contributing at least $5 prior to the pay in which you defer your sick and/or annual leave.
2.         You must complete and submit your salary deferral paperwork to Empower prior to the first day of the month in which the deferral will be made – this is an IRS regulation. 
 
For complete guidelines/details and setup, contact Empower Retirement at 866.737.7457.