Vacation Buyback Option. Employees are eligible to convert City-provided-vacation leave hours to IRS-reportable compensation each fiscal year. Leave time converted to compensation is not PERSable. When employees convert vacation leave to compensation, a written request must be submitted to the City Manager/Personnel Committee for approval. Approved requests will be forwarded to the Finance Division for conversion of vacation leave to reportable compensation. Only that portion of an employee's accumulated vacation that is in excess of his/her annual accumulation rate can be converted to reportable compensation; provided, however, that the amount of vacation leave that can be converted to reportable compensation shall not exceed the employee's annual accrual rate, up to a maximum of 140 hours.
Vacation Buyback Option. 37 1. The Company may offer a vacation buyback option. Such offer 38 would be implemented at the mutual agreement of the flight attendant 39 and the Company and would enable the flight attendant to take pay and 40 all premiums applicable in lieu of vacation time.
