Vacation Cash-In. An employee who has taken at least ten (10) days of vacation in the preceding twelve (12) months may request, in any fiscal year that accrued vacation, not to exceed seven (7) days, be converted to cash payments and the request may be granted at the discretion of the City Manager. Employees cannot cash in more than seven (7) days of vacation in any one twelve (12) month period.
Vacation Cash-In. Bargaining unit members shall have the option of cashing-in accumulated vacation time. An employee desiring to cash-in accumulated vacation time must provide written notice, on a form provided by Human Resources, by September 15th of each year. Employees may cash-in up to two hundred (200) accumulated vacation hours per year, provided remaining accumulated vacation hours do not fall below eighty (80). Payment will be made no later than November 15th. Payment shall be made at the rate of sixty percent (60%) of the total amount. Payment shall be by separate check and shall be considered regular wages for tax purposes only. Payment shall not be subject to retirement contributions and shall not count as final average compensation.
Vacation Cash-In. Bargaining unit members shall have the option of cashing-in accumulated vacation time. An employee desiring to cash-in accumulated vacation time must provide written notice, on a form provided by Human Resources, by September 15th of each year. Employees may cash-in up to two hundred (200) accumulated vacation hours per year, provided remaining accumulated vacation hours do not fall below eighty (80). Payment will be made no later than November 15th. Payment shall be made at the rate of sixty percent (60%) of the total amount. Effective with the 2011 cash- in, this amount shall be reduced to fifty-five (55%) of the total amount. Payment shall be by separate check and shall be considered regular wages for tax purposes only. Payment shall not be subject to retirement contributions and shall not count as final average compensation.
Vacation Cash-In. During each year of this agreement, from July 1 through the following June 30, employees may elect to deduct from and be paid for up to one week (40 hours) of their accrued, unused vacation time, and shall make such election in written form (Appendix C). Such vacation time deduction and payment shall be made in the next available pay period following the employee’s election. This may only be done once per each year of this agreement. This payment is to be made by separate check. LATERAL ENTRY The Chief in consultation with the Human Resources Director and/or the Town Manager may recommend that the Town Manager offer to a lateral hire a one-time lump sum of additional vacation hours (minimum 40) in the first year of hire after which the new employee will accrue vacation time at the rates contained within this Agreement.
Vacation Cash-In a. Employees who have 240 hours or more accumulated vacation and the equivalent of 10 years or more full time continuous service, may elect to reduce his/her accumulated vacation by up to 40 hours in a calendar year and to receive cash payment in lieu of the vacation. Elections for cash-in of accumulated vacation shall be made in accordance with existing administrative procedures.
