Redemption of PTO. A. Upon termination or transfer to a non-benefit position, 100% of the employee’s PTO balance will be paid. The payoff rate will be at the employee's current straight-time base hourly rate.
B. PTO hours may not be used to extend employment beyond the last day actually worked.
C. Employees may choose to cash out up to eighty (80) hours of PTO in increments of eight
Redemption of PTO. A. Upon termination in good standing or transfer to a non-benefited position, the employee’s entire PTO balance will be paid. The rate at which such hours are paid will be at the employee’s normal rate of pay immediately prior to the transfer or termination.
Redemption of PTO. A. Upon termination or transfer to a non-benefit position, 100% of the Employee’s PTO balance will be paid. The payoff rate will be at the Employee’s current straight-time base hourly rate.
B. PTO hours may not be used to extend employment beyond the last day actually worked.
C. Employees may choose to cash out up to eighty (80) hours of PTO in increments of eight (8) hours three (3) times during any calendar year, so long as they do not reduce their PTO accrual below forty (40) hours. PTO hours not used or converted to cash will continue to accumulate within the maximum accrual limits.
D. PTO time which is voluntarily converted to cash will be paid at 100% of the Employee’s straight-time base hourly rate.
E. When an Employee reduces his/her employment status, he/she must reduce his/her PTO balance to at least the prorated accrual maximum. The Employee may choose to reduce his/her PTO balance beyond the prorated maximum while maintaining the regular minimum balance. PTO cashed out in conjunction with a reduction in employment status will be paid at 100% of the Employee’s base hourly rate.
Redemption of PTO. A. Upon termination or transfer to a non-benefited position, the employee’s entire PTO balance will be paid. The rate at which such hours are paid will be at the employee’s base rate immediately prior to the transfer or termination.
B. PTO hours may not be used to extend employment beyond the last day actually worked.
C. Eligible employees with one year or more of service may elect to convert accrued PTO to cash at ninety cents ($.90) on the dollar in increments of at least 16 hours. Payment of converted PTO hours is subject to all required deductions. Eligible full-time employees must maintain a minimum PTO balance of 40 hours to exercise the cash conversion option (20 hours for part-time employees). Employees may not con- vert PTO while on a leave of absence, workers compensation, short term disability (STD), or long term disability (LTD).
D. PTO cash-out requests must be submitted on a PTO Cash-out Request form signed by the employee. Employees wishing to convert PTO to cash must submit a Cash-out Request Form for approval by the employee’s Department Director, and to Payroll prior to the pay period in question.
Redemption of PTO. Upon termination, an employee will be paid her/his PTO balance as of the last complete day worked. The payment will be made at the current base rate of pay, plus shift differential if applicable. If the employee changes from benefited to non-benefited status, the accumulated PTO benefit will be paid to the employee at the end of the first payroll period following the change in status.
Redemption of PTO. Upon termination, or transfer to non-benefit status, one hundred percent (100%) of the Nurse’s PTO balance will be cashed out to the Nurse. The payoff rate will be the Nurse’s current base rate, plus shift differential if the Nurse has been assigned to the evening or night shift for the preceding ninety (90) days.
