Vacation Buyback. An employee who has fourteen (14) years of seniority (ten (10) or more years of seniority beginning in 2019) at the beginning of the calendar year, may request to receive forty (40) hours pay in December of the pay year. Said pay is in lieu of forty (40) hours vacation time and is subject to all applicable taxes. Employees who participate in the County’s section 457 Deferred Compensation Plan may elect to contribute part or all of the payment in lieu of vacation to their deferred compensation accounts on a pre-tax basis, up to the established maximums. Employees wishing to defer payment should complete Sections I and IV of the Deferred Compensation Plan Participation Agreement, available on the Kent County Intranet, and return the form to Human Resources.
Vacation Buyback. 1. The Company will make available on an annual basis in each crew base a minimum of five and one-half percent (5.5%) of the total annual crew base vacation accrual, excluding any vacation carryover, for vacation buyback. Vacation buyback will be awarded by crew base in seniority order to individual Flight Attendants prior to the annual vacation bid and establishment of the vacation matrix. Any reduction in the vacation matrix due to vacation buyback shall be distributed equally throughout the year. Vacation buyback awarded in accordance with the provisions of this Paragraph will be paid in the subsequent year, no later than the first pay period in June.
2. Following the completion of the annual vacation buyback process as specified in Paragraph F.1, the Company may, at its sole discretion, make available additional vacation buyback in any crew base on a monthly basis. The Company shall notify Flight Attendants of the vacation buyback prior to the first of the bid month. If vacation buyback is offered, the award will be processed in seniority order by crew base with eighty percent (80%) of such vacation buyback allocated for Lineholders and twenty percent (20%) allocated
Vacation Buyback. During the month of December each year, employees will be given the opportunity to make an irrevocable annual election to buy back vacation which will be newly earned during the following calendar year but not used during that year (unused calendar year accrual) as follows:
1. Employees may elect that in the event they have a total of four (4) or more weeks of total accruals at the end of the following calendar year, they will buy-back up to a specified number of days, not to exceed sixty (60) hours of unused calendar year accrual, if any.
2. An employee may elect to deposit the post- tax equivalent value of the unused calendar year accrual that is eligible for buy-back, as provided above, into the employee’s MPPP account, subject to applicable law and the terms of the MPPP.
3. In the event an employee fails to make an election during the election period regarding the following calendar year’s unused accrual or makes an incomplete election, such accruals may be carried-over, subject to the maximum annual vacation carry-over provided in A., above.
Vacation Buyback. Employees may receive vacation pay in lieu of paid time off. Buyback shall only be made at the request of the employee and upon the approval of the City Manager. Approvals will be granted if it is determined that “buyback” will result in increased cost-effectiveness and efficiency to the City as determined by the City Manager. Employees are only eligible for one such approval in a twelve (12) month period and only one (1) buyback per fiscal year. Each vacation buyback shall be limited to a maximum of eighty (80) hours and will be at the employee’s regular rate of pay. Vacation hours bought back shall be paid at the employee’s normal hourly rate of pay at the time of the buyback, excluding any enhancements such as out of class pay. The City Manager may authorize buyback in excess of the eighty (80) hour limit in urgent and/or emergency situations. Effective July 1, 2014 the total City-wide allocation for the buyback program will be $160,000 per fiscal year. The City shall establish an annual window period for the receipt of vacation buyback requests (November 1 – 21). At the conclusion of the window period, the City will tabulate the total dollar value of the buyback requests. If the total dollar value is less than or equal to $160,000 employee will receive, upon the City Manager’s approval, payment as noted above. If the total dollar value of the requests exceeds $160,000, request hours will be pro-rated and employees paid accordingly. (Payment shall be made with the first paycheck of December.) Should this occur, employee will be credited with vacation hours in excess of those hours determined eligible for the buyback program.
Vacation Buyback a. Before any vacation days may be cashed in, a bargaining unit member must have a minimum of fifty (50) vacation days accumulated.
b. A bargaining unit member may cash in up to ten (10) vacation days.
c. It is up to the discretion of the Chief Executive Officer and the Chief Financial officer as to whether a buy back will be available in any given year.
Vacation Buyback. 1. The Company will make available on an annual basis in each domicile a minimum of five and a half percent (5.5%) of the total annual domicile vacation accrual, excluding any vacation carryover, for vacation buyback. Vacation buyback will be awarded by domicile in seniority order to individual Flight Attendants prior to the annual vacation bid and establishment of the vacation matrix. Any reduction in the vacation matrix due to vacation buyback shall be distributed equally throughout the year. Vacation buyback awarded in accordance with the provisions of this Paragraph will be paid in the subsequent year, no later than the last pay period in February.
2. Following the completion of the annual vacation buyback process as specified in F.1, above, the Company may, at its sole discretion, make available additional vacation buyback in any domicile on a monthly basis. The Company shall notify Flight Attendants of the vacation buyback prior to the 1st of the bid month. If vacation buyback is offered, the award will be processed in seniority order by domicile with eighty percent (80%) of such vacation buyback
Vacation Buyback. Each employee may request during any pay period and receive payment at the base hourly rate for up to 80 hours per calendar year of accrued vacation leave, provided there is a minimum remaining balance of 80 hours following payment. Effective March 3, 2003, all buybacks will be subject to an 80 hour maximum in a twelve (12) month period.
Vacation Buyback. If an employee has at least ten (10) years seniority at the beginning of the calendar year , the employee may request in writing to receive forty (40) hours pay in the last full pay period of the calendar year in lieu of forty (40) hours of vacation time, by timely return of the Human Resources Department notice form.
Vacation Buyback. With the concurrence of the Company, A Flight Attendant may elect to sell back any unused vacation to the Company. The Flight Attendant's vacation bank shall be reduced accordingly.
I. Vacation Payout at Separation A Flight Attendant who resigns with a minimum of fourteen (14) days’ notice, is furloughed, or is otherwise separated from employment, shall be paid for all unused vacation at the value of 3.43 hours per day for which she/he is eligible at the time of separation. The Flight Attendant must be available for all of her/his scheduled Duty days during the fourteen (14) day notice period.
Vacation Buyback. Each represented employee may request once a calendar year to receive payment for up to eighty (80) hours of accrued vacation hours, provided that there is a minimum remaining balance of eighty (80) hours following payment. Such requests may be made bi-weekly during any pay period.
