Accrual / Paid Time Off › A Paid Time Off Sample Clauses

Accrual / Paid Time Off › A Paid Time Off. (PTO) program was implemented on July 1, 2012 to provide greater flexibility to employees in planning and utilizing their time off, while enabling the City to create and maintain more reliable work schedules for all employees. PTO consists of accrued vacation leave plus six extra days originating from the transfer of six days of sick leave accrual to the member’s PTO bank. After July 1, 2012 all previous vacation accrual plus four hours sick leave accrual per month (6 days/year) shall be treated as PTO under this article. For Fiscal Year 2018-19, Full-time employees shall accrue PTO in the following amounts per full calendar month of employment completed, as outlined below: YRS OF SERVICE VACATION ACCRUAL PORTION PTO MONTHLY ACCRUAL PTO ANNUAL ACCRUAL /HRS PTO MAX ACCRUAL 0 – 5 Years 8.66 hours 12.66 hours 151.92 hours 303.84 hours 6 – 10 Years 12.00 hours 16.00 hours 192.00 hours 384.00 hours 11 – 15 Years 16.00 hours 20.00 hours 240.00 hours 480.00 hours 16 – 20 Years 17.33 hours 21.33 hours 255.96 hours 511.92 hours 21 + Years 18.75 hours 22.75 hours 273.00 hours 546.00 hours The above table will be implemented as it has been since inception of the PTO program on July 1, 2012 through June 30, 2019. Effective July 1, 2019 Full-time employees shall accrue PTO in the following amounts per full calendar month of employment completed, as outlined below: MONTHS OF SERVICE VACATION ACCRUAL PORTION PTO MONTHLY ACCRUAL PTO ANNUAL ACCRUAL /HRS PTO MAX ACCRUAL 0 – 60 Months 8.66 hours 12.66 hours 151.92 hours 303.84 hours 61 – 120 Months 12.00 hours 16.00 hours 192.00 hours 384.00 hours 121 – 180 Months 16.00 hours 20.00 hours 240.00 hours 480.00 hours 181 – 240 Months 17.33 hours 21.33 hours 255.96 hours 511.92 hours 241 Months + 18.75 hours 22.75 hours 273.00 hours 546.00 hours Paid time off shall be credited on the last workday of every month. Part-time employees shall accrue paid time off on a pro-rated basis based upon their full-time equivalent (FTE). For purposes of termination or retirement, payroll will report PTO time as vacation time and sick leave bank time as sick leave.
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Related to Accrual / Paid Time Off › A Paid Time Off

  • Paid Time Off (PTO) Executive shall earn and accrue paid-time-off covering vacation and sick time benefits at the rate of twenty (20) days per year for employment periods of up to five years of service. The PTO accrual rate shall automatically increase by five (5) additional days for each additional 5 years of service up to maximum of thirty (30) days per year after 10 years of service. For example, after five years of service, the annual PTO accrual rate shall increase to twenty-five (25) days. Unused PTO shall carry over to the next year, but Executive shall cease accruing further PTO at any time Executive has accrued two times his annual accrual rate. Unused PTO days which are not in excess of two-times the annual accrual rate shall be paid in a cash lump sum payment promptly after Executive’s termination of employment.

  • Unpaid Time Off All accruals must be exhausted prior to taking unpaid time off (unless eligible for EIT access).

  • Paid Time Off The Executive shall be entitled to take paid time off in accordance with the Company’s applicable paid time off policy for executives, as may be in effect from time to time.

  • Time Off The company recognises that sufficient time off to attend to personal matters and for recreation are important to the employee’s wellbeing, job satisfaction and overall productivity. Accordingly, time off may be taken with the consent of the Company, which shall not be unreasonably withheld. In considering the approval to have time off, the Parties will have regard to the current works programme and the urgency of the reason for time off. In the event that time off is to be taken, it will be the employee’s obligation to advise the Company in advance or as soon as practicable on the day of absence, recognising that unplanned absences can cause costly disruption to programmed works and are a major source of annoyance for the company, other employees and clients. The object of offering flexible working hours is that in return employees will take very seriously their obligation to turn up when they are expected. In view of the disruption caused by unplanned and or notified absenteeism, repeated failure to observe the protocol for time off would constitute misconduct.

  • Prime Time Vacation Period Subject to the provisions of this article, it is the intent of the parties that no employee will be restricted in the time of year they choose to take their vacation. The Employer will make every effort to allow employees to take their vacation during the period of April 15th to October 15th inclusive, which will be defined as the prime time vacation period.

  • Vacation Leave Accrual Rate Schedule Full Years of Service Hours Per Year During the first year of current continuous employment Ninety-six (96) During the second year of current continuous employment One hundred four (104) During the third and fourth years of current continuous employment One hundred twelve (112) During the fifth, sixth, and seventh years of total employment One hundred twenty (120) During the eighth, ninth, and tenth years of total employment One hundred twenty-eight (128) During the eleventh year of total employment One hundred thirty-six (136) During the twelfth year of total employment One hundred forty-four (144) During the thirteenth year of total employment One hundred fifty-two (152) During the fourteenth year of total employment One hundred sixty (160) During the fifteenth year of total employment One hundred sixty-eight (168) During the sixteenth year of total employment and thereafter One hundred seventy-six (176)

  • Voluntary Time off Program The mandatory furlough provisions of Civil Service Commission Rule 120 shall not apply to covered employees.

  • Vacation Leave Maximum Employees may accumulate maximum vacation leave balances not to exceed two hundred and forty (240) hours. However, there are two (2) exceptions that allow vacation leave to accumulate above the maximum:

  • Personal Time Off Executive shall be entitled to paid time off in accordance with the Company’s policies applicable to executives.

  • Compensatory Time Off i) Regular and non-regular type 2 faculty members may choose, prior to starting an overload, whether to accept financial compensation or compensatory time off as payment for the overload.

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