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Office of Financial Services > Accounting Operations > Frequently Asked Questions > If I terminate/retire from employment and I am entitled to receive payment for either sick or vacation balance, will I receive a check for the full amount?  

Frequently Asked Questions: If I terminate/retire from employment and I am entitled to receive payment for either sick or vacation balance, will I receive a check for the full amount?

Category

 Sick and Vacation 

Question

 If I terminate/retire from employment and I am entitled to receive payment for either sick or vacation balance, will I receive a check for the full amount? 

Answer

If the amount of payment owed for either vacation or sick balance payment exceed $500.00, then that amount is mandated by District Policy to be deposited, tax free, in a 401-a account with Bencor.  Payment less than $500.00 will be taxed and paid directly to the employee.
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Created at 5/20/2010 3:12 PM  by Moses, Linda@Accounting Services 
Last modified at 5/20/2010 3:19 PM  by Moses, Linda@Accounting Services