12-P-004 Addition of New Account Codes for Voluntary Retirement Incentive Program Expenditure Tracking
Posted on October 21, 2021 at 12:49 PM by Kansas Department of Administration
|DATE:||August 30, 2011|
|SUBJECT:||Addition of New Account Codes for Voluntary Retirement Incentive Program Expenditure Tracking|
|EFFECTIVE DATE:||August 2, 2011|
(Original Signature on File)
New Account Codes for Voluntary Retirement Incentive Program Expenditure Tracking-Supplement to Info Circ 12-P-003
As a result of the implementation of the Voluntary Retirement Incentive Program, new account codes have been added to SMART/SHARP effective August 7, 2011 to use for payroll expenditure tracking. The following account codes are eligible to be used starting with the pay period beginning August 7, 2011.
|Account Code||Description||Short Description||Effective Date|
|Volntry Retire Incntv Cash Opt|| |
|Volntry Rtire Inctv Vac Payout|| |
|Volntry Retire Incntv Sick Pay|| |
Account Code 514401 will be used for the cash lump sum retirement incentive ($6,500) only and processed with earnings code VRI. Account Code 514402 will be used for the Vacation leave payouts only and processed with earnings codes VLV and VLX. Account Code 514403 will be used for the Sick leave payouts only and processed with earnings codes SLV and SLX. These account codes will only track gross payout expenditures. No related employer fringe costs will be recorded using these account codes.
Pursuant to the completion of the Voluntary Retirement Incentive Program, the new account codes should no longer be used for payroll processing after the on-cycle is confirmed for the pay period beginning September 18, 2011 through October 1, 2011 paid October 14, 2011.
The Office of General Services, Payroll Systems Team, is responsible for adding the new account codes in the SHARP system. Regents' institutions are responsible for implementing the new account codes in their payroll systems.