Preparing to Retire - Final Paycheck and Leave Payouts

Your final pay may include the following if your retirement has been processed in Workday in a timely manner:

• Earnings through your last day worked
• All regular payroll deductions will be withheld from the paycheck
• Any leave payouts
• Comp time available balance paid at 100%

See View Time Off job aid to learn how to see your current vacation and sick leave balances. Payouts are paid out at your current rate of pay. You may also wish to use the Model My Pay task within Workday to see what your paycheck may look like with a leave payout.

Sick Leave Payout

All employees actively retiring from STRS/OPERS or ARP must have 10 years of state service and meet the eligibility requirements to retire under the enrolled plan to receive a sick leave payout. Actively retiring means applying to receive a pension or begin distributions from the plan. Sick leave payouts upon retirement are not subject to mandatory retirement plan (OPERS, STRS, or ARP) contributions. For additional details, view the Paid Time Off Policy 6.27.

Vacation Leave Payout

Any unused balances as specified in the Paid Time Off Policy 6.27 will generally be paid on your final paycheck. Vacation leave payouts are not eligible for a retirement contribution to STRS/OPERS or ARP.

Processing Payouts

Submit your resignation in Workday as soon as possible, as payouts are processed when this action is completed. For information on how to submit a resignation/retirement in Workday, please see the Submit a Resignation in Workday job aid. Note: If your resignation/retirement is submitted after payroll processing, your payout(s) will occur on the next applicable check.