As detailed in a memo to comp time eligible employees and their managers on June 12, compensatory (comp) time payouts currently occur at the end of each fiscal year for employees with a comp time balance greater than zero. Starting in FY27 – July 1, 2026 to June 30, 2027 – the end of fiscal year comp time payout process will come to an end. The goal in eliminating this end of fiscal year payout process is to give employees and/or departments choice in managing, using, and paying out earned comp time at any time throughout the year while creating administrative efficiencies.
I am a nonexempt employee accruing comp time – do I need to do anything?
- If you have been approved to accrue comp time off, utilize comp time off before vacation or vacation credit time off.
- You may request a comp time payout at any time throughout the year.
I am a department/manager of nonexempt employees accruing comp time – do I need to do anything?
- Consider whether it makes sense for your nonexempt employees to accrue comp time for time off in the future or be paid overtime in cash in their next paycheck.
- If your nonexempt employees currently accrue comp time and you would like them to be paid overtime in cash, please visit with the employee prior to removing them from the Accrue Comp Time custom organization. If you would like assistance in removing your employees from the Accrue Comp Time custom organization, please email timeandabsence@iastate.edu for assistance in doing so. Employees can be removed or added from the Accrue Comp Time custom organization effective the first of the next month at any time throughout the year.
If you have questions regarding the information included in this communication, please email timeandabsence@iastate.edu.