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File: GBC Option 1
STAFF COMPENSATION PROCEDURES
Employees may choose to have their salaries paid in full according to the division’s pay schedule or may annualize their pay. Employees who choose to receive payment of wages beyond the period in which the wages were earned must provide a written election of such deferral prior to the first duty day of the year of deferral on a form provided by the division. Any change to the election must be made prior to the first duty day of the fiscal year of the deferment.
Adopted: 06/26/08
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Legal Ref.: 26 USC § 409A
© 6/08 VSBA |