Paying Down Compensatory Time Clause Samples

Paying Down Compensatory Time a) Prior to July 1, 2003, the Employer agrees to pay down compensatory time balances existing as of the ratification date of this Agreement that are in excess of forty (40) hours. If balances are paid down to less than forty (40) hours, employees may request to continue to maintain a compensatory time balance of no more than forty (40) hours. b) After July 1, 2003, the Employer agrees to pay down compensatory time at least once per year. Each employee will have the option of maintaining up to forty (40) hours of compensatory time instead of receiving pay. Such time may be paid off during the last quarter of each fiscal year. When employees earn overtime they shall have the option to elect either pay or compensatory time for these hours. Such elections shall be communicated on a form agreed to by the parties. c) All compensatory time will be paid off prior to the effective date of any promotion for the affected employee. d) The provisions of this Section will apply only in each year in which the Department/Division is subject to no withholdings in excess of the Governor’s 3% reserve.