Vacation And Compensatory Time Cash-out. 1. Employees may cash out accumulated Vacation Leave and/or Compensatory Time hours twice each calendar year. Such conversion of Vacation Leave and/or Compensatory Time hours shall be at the unit employee’s base rate of pay that is in effect at the time of such conversion and will be limited to a maximum of 200 hours each calendar year. Employees cannot cash-out accumulated Vacation Leave balances below 40 hours. 2. Conversion requests shall be submitted on City forms to Payroll. The deadlines for conversion requests are as follows: 2nd Friday in May 1st payday in June 2nd Friday in November 1st payday in December
Appears in 5 contracts
Samples: Collective Bargaining Agreement, Memorandum of Understanding, Memorandum of Understanding
