Retiring MCCC unit members may be permitted to defer some or all of their eligible accumulated sick-leave and vacation-leave payouts into the Massachusetts 403(b) Supplemental Retirement Plan, subject to the terms of the plan, applicable IRS contribution limits, and college payroll procedures. This option generally applies to eligible unused sick-leave and vacation-leave compensation paid following retirement. Under federal rules, qualifying post-separation compensation ordinarily must be paid by the end of the calendar year in which employment ends or within 2½ months following separation, whichever is later. The employee’s deferral election and required paperwork may need to be completed before retirement or before the payment becomes available. Early-retirement incentive payments may not qualify as eligible compensation for an employee 403(b) deferral. In addition, the timing of an early-retirement incentive or related leave payouts may affect whether those amounts can be deferred. Employees planning to retire should contact their college Human Resources and Payroll offices well before their retirement date to confirm eligibility, applicable deadlines, available contribution limits, and the required forms. Employees should also consult a qualified tax or financial adviser regarding their individual circumstances