Common use of Sell Back to Deferred Compensation Account Clause in Contracts

Sell Back to Deferred Compensation Account. An employee with 10 through 16 years of continuous service may annually sell back 1 week (40 hours) of accrued, available vacation at his or her straight time hourly rate in effect on November 30th of the year preceding the payment date. An employee with 17 or more years of continuous service may annually sell back up to 3 weeks (120 hours) of accrued available vacation at his or her straight time hourly rate. Sell Back under this provision is for the express purpose of depositing into the employee's Deferred Compensation Account. In order to participate in this program, the employee must be enrolled in the DISTRICT'S sponsored Deferred Compensation Program by the end of February of the year in which participation is intended.

Sell Back to Deferred Compensation Account. An employee with 10 through 16 years of continuous service may annually sell back 1 week (40 hours) of accrued, available vacation at his or her straight time hourly rate in effect on November 30th of the year preceding the payment daterate. An employee with 17 or more years of continuous service may annually sell back up to 3 weeks (120 hours) of accrued available vacation at his or her straight time hourly rate. Sell Back under this provision is for the express purpose of depositing into the employee's Deferred Compensation Account. In order to participate in this program, the employee must be enrolled in the DISTRICT'S sponsored Deferred Compensation Program by the end of February March 31, of the year in which participation is intended.

Sell Back to Deferred Compensation Account. An employee with 10 through 16 years of continuous service may annually sell back 1 week (40 hours) of accrued, available vacation at his or her straight time hourly rate in effect on November 30th of the year preceding the payment date. An employee with 17 or more years of continuous service may annually sell back up to 3 weeks (120 hours) of accrued available vacation at his or her straight time hourly rate. Sell Back under this provision is for the express purpose of depositing into the employee's ’s Deferred Compensation Account. In order to participate in this program, the employee must be enrolled in the DISTRICT'S ’S sponsored Deferred Compensation Program by the end of February of the year in which participation is intended.