Skip to Main Content
print small medium large 

HOME / 2013 PENSION STATEMENTS /


YEAR END CROSSOVER PAY PERIOD EXAMPLE

The pension year is based on a calendar year.  Therefore, the pensionable earnings in the pay periods at the start and end of the year must be allocated to their respective calendar year so that each year reflects only those earnings which pertain to service rendered from January 1st to December 31st.


The pay period at the beginning of 2013 has some earnings which pertain to 2012.  The pay period at the end of 2013 has some earnings which pertain to 2014.


Based on the example below, six pensionable days of earnings were moved out of 2013 because they pertain to 2012 and 3 pensionable days of earnings were moved out of 2013 because they pertain to 2014.



 Pay Period
  Pension Treatment
   2012 2013 2014
December 23, 2012 - January 5, 2013  6 days moved
to 2012
4 days remain
in 2013
 
       
December 22, 2013 - January 4, 2014    7 days remain
in 2013
3 days moved
to 2014
       

 
This adjustment ensures that each year includes only service rendered during that year.

back to top