Pay Off of Unused PTO Hours. If, at the end of a payroll year, an employee has more than two hundred forty (240) hours of unused PTO, excluding PTO hours forfeited, the employee shall be compensated for the hours in excess of two hundred forty (240) no later than February 28th of the following year. Compensation for these PTO hours shall be paid at the employee’s pay rate in effect on December 31st.
Appears in 12 contracts
Samples: Allegan County, Letter of Agreement, Court Hourly Employees
Pay Off of Unused PTO Hours. If, at the end of a payroll year, an employee has more than two three hundred forty twenty (240320) hours of unused PTO, excluding PTO hours forfeited, the employee shall be compensated for ½ of the hours in excess of two three hundred forty twenty (240320) no later than February 28th of the following year. The other ½ shall be forfeited. Compensation for these PTO hours shall be paid at the employee’s pay rate in effect on December 31st.
Appears in 11 contracts
Samples: Allegan County, Letter of Agreement, Court Hourly Employees
Pay Off of Unused PTO Hours. If, at the end of a payroll year, an employee has more than two three hundred forty twenty (240320) hours of unused PTO, excluding PTO hours forfeited, the employee shall be compensated for ½ of the hours in excess of two three hundred forty (240) no later than February 28th of the following year. Compensation for these PTO hours shall be paid at the employee’s pay rate in effect on December 31st.twenty
Appears in 1 contract
Samples: Agreement
