FTO Accrual Limits Sample Clauses
FTO Accrual Limits. Accrued and unused leave may be carried over from one year to the next within the following limitations:
A. On December 31 of any year, an employee may not have more than four hundred forty (440) hours of accrued FTO. Any accrued FTO in excess of four hundred forty (440) hours as of December 31 of any year will be transferred into an employee’s SSP balance.
B. No later than two (2) pay periods after the effective date of this Agreement employees with hours in excess of four hundred forty (440) will be cashed out.
C. Newly hired employees shall accrue FTO but shall not be able to use FTO until successful completion of the six (6) month probation period. Additionally, hours accrued during the probationary period have no cash value. Upon successful completion of the probation period, FTO accrued shall be available for use and shall have cash value.
D. Scheduled FTO canceled by the Company due to operational requirements will be deferred until the following year if the employee had no reasonable opportunity to reschedule the leave during the current year. Such deferred FTO will not be counted against the four hundred forty (440) hour maximum accrual limit.
FTO Accrual Limits. Accrued and unused leave may be carried over from one year to the next for the purpose of accumulating a FTO Account, or reserve.
A. However, on December 31 of any year, an employee may not have more than four hundred eighty (480) hours of accrued FTO. Any accrued FTO in excess of 480 hours as of December 31 of any year will be transferred into an employee’s SSP balance.
B. Scheduled FTO canceled by the Company will be deferred until the following year if the employee had no reasonable opportunity to reschedule the leave during the current year. Such deferred FTO will not be counted against the 480 hour maximum accrual limit.