Common use of Banked Overtime Clause in Contracts

Banked Overtime. (a) All regular employees may bank overtime hours at overtime rates to a maximum of forty (40) hours of straight time per calendar year (e.g. 26.67 hours of overtime equals 40 hours of straight time), instead of receiving cash payment, for the purpose of taking paid banked time off. (b) Regular employees must indicate if they wish to bank overtime for this purpose by the end of January of each year. Regular employees may opt out at any time during the calendar year in which the overtime is being accumulated, but may not after December 31st of that year. (c) Banked time will be earned throughout the current calendar year. Banked time off is to be taken in the following calendar year. (d) With the exception of employees in the Maintenance and Equipment Department, time off will be taken in five consecutive days with no breakup into individual days. (e) The number of employees eligible will be limited to increments of 6employees in Operations and 4 servicepersons who can be accommodated with time off during the pick process. (f) For those who signed up and cannot be accommodated for banked time off because of insufficient banked hours (must have banked 40 hours at straight time), pay-out will occur as soon as possible in the new year. For those who signed up and cannot be accommodated for lieu time because the increment criteria has not been met, pay-out will occur as soon as possible following the pick process.

Banked Overtime. (a) All regular employees may bank overtime hours at overtime rates to a maximum of forty (40) hours of straight time per calendar year (e.g. 26.67 hours of overtime equals 40 hours of straight time), instead of receiving cash payment, for the purpose of taking paid banked time off. (b) Regular employees must indicate if they wish to bank overtime for this purpose by the end of January of each year. Regular employees may opt out at any time during the calendar year in which the overtime is being accumulated, but may not after December 31st of that year. (c) Banked time will be earned throughout the current calendar year. Banked time off is to be taken in the following calendar year, during the prime summer months as per the posted schedule. Skilled Trades may only take banked time off outside of the prime summer months unless otherwise approved by the Deputy General Manager, Maintenance and Equipment or designate. (d) With the exception of employees in the Maintenance and Equipment Department, time off will be taken in five consecutive days with no breakup into individual days. (e) The number of employees eligible will be limited to increments of 6employees 10 employees in Operations and 4 8 servicepersons who can be accommodated with time off during the pick process. (f) For those who signed up and cannot be accommodated for banked time off because of insufficient banked hours (must have banked 40 hours at straight time), pay-out will occur as soon as possible in the new year. For those who signed up and cannot be accommodated for lieu time because the increment criteria has not been met, pay-out will occur as soon as possible following the pick process.

Banked Overtime. (a) All regular employees may bank overtime hours at overtime rates to a maximum of forty (40) hours of straight time per calendar year (e.g. for example 26.67 hours of overtime equals 40 hours of straight time), instead of receiving cash payment, for the purpose of taking paid banked time off. (b) Regular employees must indicate if they wish to bank overtime for this purpose by the end of January of each year. Regular employees may opt out at any time during the calendar year in which the overtime is being accumulated, but may not after December 31st of that year. Effective December 1st, 2022, regular employees must indicate if they wish to bank overtime for this purpose before the commencement of the accumulation period for example before December 1st. Regular employees may opt out at any time during the calendar year in which the overtime is being accumulated, but may not after accumulation period has ended for example after November 30th. (c) Banked time will be earned throughout the current calendar year. Banked time off is to be taken in the following calendar year. Effective December 1st, 2022, banked time will be accumulated from December 1st to November 30th of the current calendar year and scheduled to be used from January 1st to December 31st of the following calendar year. (d) With the exception of employees in the Maintenance and Equipment Department, time off will be taken in five consecutive days with no breakup into individual days. (e) The number of employees eligible will be limited to increments of 6employees 6 employees in Operations and 4 servicepersons who can be accommodated with time off during the pick process. (f) For those who signed up and cannot be accommodated for banked time off because of insufficient banked hours (must have banked 40 hours at straight time), pay-out will occur as soon as possible in the new year. For those who signed up and cannot be accommodated for lieu time because the increment criteria has not been met, pay-out will occur as soon as possible following the pick process.