Section 534.408 - Restrictions on premium pay and compensatory time(a) Under 5 U.S.C. 5541(2)(xvi) and 5 CFR 550.101(b)(18) , members of the Senior Executive Service (SES) are excluded from premium pay, including overtime pay.(b) Since SES members are not eligible for overtime pay, they also are not eligible for compensatory time in lieu of overtime pay for work performed as an SES member. SES members are eligible, however, for compensatory time off for religious purposes under 5 U.S.C. 5550a and 5 CFR part 550 , subpart J.60 FR 6390, Feb. 2, 1995. Redesignated and amended at 69 FR 70362, 70367, Dec. 6, 2004