Common use of Election to Buyback/Cash Out Paid Time Off Clause in Contracts

Election to Buyback/Cash Out Paid Time Off. In order to buyback/cash out or otherwise require the County to buyback/cash out vacation, annual leave or paid time off, the employee must first meet the eligibility criteria set forth in the applicable provision of the bargaining agreement. If such criteria are met, only then the employee may request and be granted compensation in lieu of vacation/annual leave/PTO for up to the amounts set forth in the bargaining agreement under the terms set forth below. If such criteria are not met as of December 31 of the calendar year in which the election is required to be made, then the employee has no right to election to buyback/cash out accrued time in the next calendar year. a) An eligible employee may elect to pre-designate an irrevocable buyback/cash out amount of up to the maximum number of hours of vacation/annual leave/PTO for the upcoming calendar year as set forth for his/her respective class. Requests for cash out must be made prior to December 1 of the calendar year before the cash out will be made (for example, requests for the 2018 calendar year will be made before December 1, 2017). b) Buyback/cash out designations shall be made in hours, not dollar amounts, and must be in increments of 8 hours. c) Any such request will be subject to the following: i. Any employee utilizing this provision will be required to submit an irrevocable election by December 1st of the calendar year prior to the calendar year in which the vacation/annual leave/PTO hours to be cashed out are earned. ii. An employee who elected to receive the buyback/cash out as set forth above, may request a full or partial payment of the buyback/cash out at any time in the designated calendar year. iii. For employees who have pre-designated buyback/cash out amounts and who have not requested actual payment(s) of the entire designated buyback/cash out amount by December 1st of that calendar year, the County will automatically pay out the pre-designated amount (or remaining amount designated but not paid) by the last paycheck of the calendar year. iv. Employees who have not elected to pre-designate a cash out by the applicable deadline (December 1st of the prior calendar year) will be deemed to have waived their right and will not be eligible to buyback/cash out any vacation/annual leave/PTO in the following calendar year. For example, if no designation is made by December 1, 2017, no cash out is available in 2018), until such time and under such terms as emergency usage provisions are agreed upon.