New: Compensation Web Application (CWA) adds a Severance Pay Calculator

Summer 2011 - No. 81

The severance pay calculator is the latest tool complementing our kit of Compensation Web Applications (CWA).

When introduced on May 9, 2011, high initial demand and some unforeseen technical glitches caused performance issues with the tool. The situation was quickly rectified, and now "all systems are go!" Positive feedback has been plentiful.

This calculator can be used by compensation advisors (CAs) to determine the continuous employment date and also to estimate the gross amount of payment in lieu of severance pay. The calculator generates and prints a summary page explaining the three payment options, which employees will use to indicate their preferred payment option.

When launched, the calculator displays pre-filled data from the pension system for periods of service and periods of leave without pay (LWOP) to assist CAs with the calculation of payout of severance payments for active employees in the PA, SV, and EB groups.

Once CAs validate the service and the LWOP periods, the calculator should save CAs significant time and effort.

In addition, the following new codes have been created to allow CAs to record severance pay cashouts in the Regional Pay System (RPS):

• Code: 1F6 - Full payment in lieu of severance pay
• Code: 1F7 - Partial payment in lieu of severance pay

Stay tuned for further updates on the CWA Severance Pay Calculator we calculate you're going to like it! And for more information, please refer to Compensation Directive 2011-006.