120 Day Calculation for Payroll Cost Transfers
| Ledger Month | + 120 Calendar Days | Last Pay Cycle Available to Process Cost Transfer | Pay Cycle End Date | OPTRS Final Deadline |
|---|---|---|---|---|
| Sep 30, 2012 | Jan 28, 2013 | SM | Jan 15, 2013 | Jan 15, 2013 |
| Oct 31, 2012 | Feb 28, 2013 | SM | Feb 15, 2013 | Feb 14, 2013 |
| Nov 30, 2012 | Mar 30, 2013 | SM | Mar 15, 2013 | Mar 15, 2013 |
| Dec 31, 2012 | Apr 30, 2013 | SM | Apr 15, 2013 | Apr 16, 2013 |
| Jan 31, 2013 | May 31, 2013 | SM | May 15, 2013 | May 15, 2013 |
| Feb 28, 2013 | Jun 28, 2013 | SM | Jun 15, 2013 | Jun 14, 2013 |
For a payroll cost transfer to be considered timely (i.e. within 120 days), it must be processed in a pay cycle that has an end date on or before the 120 calendar days following the close of the month in which the payroll expense posts to the ledger.
The complete OPTRS Time Reporting Schedules can be found on the Payroll Office website.
Example:
September 2011 payroll expense
Ledger month end date = September 30, 2011
120 calendar days = January 28, 2012
Last payroll cycle ending before January 28, 2012 = SM cycle ending January 15, 2012