Is my unused banked leave time payment included in the Supplemental Retirement Benefit paid out over 60 months?
No. Your unused banked leave time payment is placed directly into your 401k account with ING. 401k accounts were created for all active state employees just for this purpose. All unused banked leave time is paid in this manner. Your human resource office will multiply your BLT hours times your ending pay rate to determine how much money will be deposited in your 401k account. Once you have terminated state employment, ING will send information to you regarding your payout options. Updated on October 14, 2010 5.
Related Questions
- How soon will my employee receive his/her first benefit payment from Disability Insurance or Paid Family Leave after he/she mails their claim form?
- How soon will my employee receive his or her first benefit payment from Paid Family Leave after mailing in his or her claim form?
- How is unused annual leave factored into my retirement benefit?
