Overtime Banking. Employees desiring to bank overtime may elect to do so under the following criteria: * The half time associated to overtime may be banked up to a total of 24 hours per calendar year. This limit may be replenished throughout the year. * Banked time must be taken in full day increments or the employee may elect to receive the pay. * Employees must have cleared or be scheduled to clear their hours account by December 15. If the account is not cleared then the employee will be paid the balance in cash. * Payment will be based on the current rate of pay at the time the banked time is used. * Time off must be requested in advance, unless bona fide illness. (Company will monitor) * Time off will be subject to Company service requirements and no additional cost to the Company. * Implementation of the Overtime Banking arrangement will be subject to the development of an appropriate computer system.
Overtime Banking. (a) 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 compensating 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 the employee 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 department head (or delegate), such employee shall be granted any portion of the compensating time off at the pay 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.
(b) Notwithstanding paragraph (a) above, employees may bank compensating time off to a maximum of fifteen (15) working days based on the employee’s regular daily hours. All overtime earned after that will be paid and not banked.
(c) Notwithstanding the March 31st payout in paragraph (a) above, employees may request a full or partial payout of their overtime bank upon two weeks’ notice to the Employer. Such payout will be at the pay rate or rates in effect at the time the overtime in question was worked.
Overtime Banking. 29.1 All employees will be entitled each year to bank up to a maximum of five (5) days, being forty (40) hours overtime approved by the Corporation for Outside workers effective July 31, 1998, and five (5) days, being thirty-five (35) hours overtime approved by the Corporation for Inside workers effective August 7, 1998, based on the overtime rate as per the Collective Agreement, to be taken at the Corporation's discretion after conferring with the employee.
29.1.1 Not more than five (5) days of time off shall be taken by an employee in any one calendar year, in lieu of overtime pay.
Overtime Banking. Regular Employees may request to bank Overtime in lieu of payment. Overtime can be banked on the basis of one (1) hour off for each hour of pay (e.g., one (1) hour paid at double time would be banked as two (2) hours).
Overtime Banking. In recognition that from time to time an employee may require time off for personal reasons or unforeseen circumstances, the following conditions may apply:
Overtime Banking. Employees desiring to bank overtime may elect to do so under the following criteria:
Overtime Banking. In addition to the above, the following conditions and procedures shall govern the “banking” of overtime.
1. That the employee advises their supervisor that they wish to “bank” their overtime at the time of overtime assignment and that such election is irrevocable. The time eligible for banking shall be the actual work hours in excess of those representing a “full” normal work week (40 hours except in the case of compressed work week), or in excess of those representing the normal daily shift. Authorized leaves including those for illness or injury shall be regarded as hours actually worked for this purpose. The employee must bank all (both straight and premium payment portions) overtime earned in excess of the full normal work week or the normal daily shift with the additional condition that overtime on a given shift must equal one (1) or more hours to be eligible for banking.
Overtime Banking. 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 compensating 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 the employee 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 department head (or delegate), such employee shall be granted any portion of the compensating time off at the pay 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.
Overtime Banking. Any election to bank under this provision will be done in accordance with Article 16.07.
Overtime Banking. Employees who work overtime may transfer to an overtime bank up to one hundred percent (100%) of the overtime hours they earned to be taken as time off in lieu of wages, provided that no employee may bank more than a total of forty (40) hours in any six month period. Any such overtime so banked must be taken off at a time mutually agreed upon with the employee’s Supervisor. Any time remaining in an employee’s bank at the end of each six-month period will be paid off at the employee’s prevailing rate of pay.
