Banking Overtime. (a) Regular employees who work overtime may transfer to an overtime leave bank up to 100% of the overtime hours earned to be taken as time off in lieu of wages providing that the total number of hours transferred to the overtime leave bank in any calendar year shall not exceed 37.5 hours. Overtime leave will be subject to essential departmental requirements and it will not be unreasonably denied. It must be taken prior to any leave of absence without pay unless otherwise agreed by the parties. It will not take precedence over another employee's vacation leave. It will be taken in the calendar year in which it is banked except that up to 15 hours of overtime banked after October 1st in any calendar year can be taken in the first quarter of the following calendar year if it is not possible to take it in the calendar year in which it is banked. Overtime which remains in the overtime leave bank at the last date when it can be taken will be paid out at the prevailing hourly rate within 30 days thereafter or within such longer period as the parties may agree, with agreement not to be unreasonably denied.
Banking Overtime. All employees who are required to work overtime shall elect at the time of working such overtime whether to be paid for it or instead to receive compen- sating time off in lieu. An employee who elects to receive compensating time off, shall be credited with compensating time off equivalent to the number of hours which would have been paid for the overtime worked, and, subject to an employee's request to be granted compensating time off being approved by the employee's Department Head (or delegate), such employee shall be granted any portion of the compensating time off at the rate or rates in effect at the time the overtime in question was worked. All compensating time off credited during a particular calendar year but which has not been granted to an employee by March 31st of the immediately following year shall be paid in cash at that time at the pay rate or rates in effect at the time the overtime in question was worked.
Banking Overtime. The purpose of banked overtime is to offset the loss of wages due to a reduction in the regular hours of work as per Article 17.01. Banked overtime may also be used to offset loss of wages due to the employee’s absence from work due to sick time, medical appointment attendance, and family responsibility leave or to extend bereavement leave. In addition an employee may utilize a maximum of five (5) days of banked overtime as paid time off work however it cannot be used in conjunction with vacation time off.
Banking Overtime. During negotiations the parties discussed allowing represented salaried employees an informal arrangement to bank overtime hours worked in lieu of receiving pay. The intent of this arrangement was to allow an employee to bank the premium overtime hours at the appropriate rate and receive comparable hours off with the approval of Management. As a result, a local Banking Overtime arrangement was developed and implemented in many areas through the Office, Clerical and Engineering unit. During these present negotiations, it was agreed to confirm or clarify certain understandings with regard to the Banking Overtime arrangement as follows:
Banking Overtime a) The regular hourly wage rates shall apply to the first forty (40) hours of work performed in any week or the first eight (8) hours of work in any day. All hours worked in excess of forty (40) hours weekly shall be paid for at the rate of one and one-half ((1 ½) times the basic straight time hourly rate. All hours worked in excess of eight (8) hours daily shall be paid for at the rate of one and one-half (1 ½) times the basic straight time hourly rate provided, however, work performed after three (3) consecutive hours of one time and half (1 ½) shall be paid at the rate of two times the basic straight time hourly rate. Overtime shall be paid on a daily or weekly basis, whichever is greater, but not for both.
Banking Overtime. Employees who work overtime may request time off in lieu of overtime pay, but such time off must be taken at a time mutually agreed upon with the Employer. The length of time off with pay shall be equal to the straight time equivalent of the overtime earnings. Such time off must be taken within 6 months of being earned or it will be paid out.
Banking Overtime. 17.08 67 Bargaining Unit Work ................................ 2.03 12 Benefits ........................................................... 24 91 Benefits ........................................... Appendix B 122 Bereavement Leave................................... 15.10 58 Casual Employee (Definition) .................... 3.04 14
Banking Overtime. During these negotiations the parties discussed allowing represented nurses an informal arrangement to bank overtime hours worked in lieu of receiving pay on a trial basis. The intent of this arrangement would be to allow an employee to bank the hours at the appropriate rate and receive comparable hours off with the approval of Management. The parties agree that the amount of hours an employee would be allowed to bank must not exceed 80 (80) hours. Banked hours, when taken, will not exceed more than two consecutive work days (Monday to Friday) in a regular workweek except during periods of layoff. Salary Administration, Salary Labour Relations and the Department Management agree the implementation of this plan must not interfere with the efficiency of the operation. The Corporation reserves the right to modify, limit the banking of overtime hours worked and not paid, the period of time in which hours off may be taken, and also to terminate this arrangement.
Banking Overtime. 1. Max 40h accumulated at worked pay rate (2h @ x1.5 = 3h in the bank) per calendar year, unless the employee’s vacation entitlement is less than 5 weeks; then the max will be 80h.
Banking Overtime. The conditions for banking overtime for full time employees and part time employees with greater than two (2) years service is as follows:
