Common use of Compensatory Bank Clause in Contracts

Compensatory Bank. The compensatory time bank shall not exceed one hundred twenty (120) hours. Hours worked over the one hundred twenty (120) hours shall be paid in cash. If the hours in the compensatory bank have not been reduced to zero by the last day of the last full pay period in April, the hours shall be paid in cash at the employee’s current rate of pay. An employee who is permanently laid off or who accepts a position with another Appointing Authority or a position not represented by the Council shall have unused compensatory time paid in cash at the employee’s current rate of pay. An employee who has accrued compensatory time shall, upon termination of employment, be paid for the unused compensatory time at either the average regular rate of pay received by the employee during the last three (3) years of employment or the final rate of pay received by the employee, whichever is greater. With written notice to employees and to the Council by November 1, MnDOT offices may extend this period to allow for scheduling the compensatory time off prior to the last day of the first full pay period in the following September, and the hours will be paid in cash if they are not reduced by the first full pay period in September.