Accrual Methods Clause Samples
Accrual Methods. 1. YP team members accrue PTO on a monthly basis (“Monthly Accrual”). To determine the monthly accrual rate, divide the annual accrual eligibility by 12 (illustrated below): Years of Service Annual Accrual Eligibility Per Month Accrual New Hire - 6 months 5 Days 0.4167 days per month Year 1 – Year 6 10 Days 0.833 days per month Year 7 – Year 14 15 Days 1.25 days per month Year 15 – Year 24 20 Days 1.667 days per month Year 25 and Above 25 Days 2.083 days per month
2. The PTO balance reported in the ADP system reflects time which you are eligible to accrue for the calendar year. PTO time not yet accrued during the year may be advanced to you and available for use, with team leader approval. Team members will be eligible for the next level of PTO accrual starting at the beginning of the year in which they are expected to reach their next service milestone. The new accrual eligibility will be reflected as of January 1. For example, an employee reaching their 7-year service anniversary on August 15 will begin accruing at the higher monthly rate (1.25 days) starting in January of that same year.
Accrual Methods. 13.3.1 Employees will begin accruing at the rate indicated on each anniversary date. For example, an employee will begin accruing at the 192 hours per year on the fifth (5th) anniversary of employment. Personal time off will accrue based on paid hours only, up to the maximum of the employee’s regular schedule (employees will not earn additional PTO while on overtime). Accruals will be prorated for regular part-time employees.
13.3.2 Employees may accumulate PTO up to a maximum of two (2) times their annual rate of accrual. PTO may not be accumulated beyond the maximum unless authorized by the Director. If an employee’s vacation is deferred at the request of the Agency, the employee will be allowed to continue accumulation of hours.