Vacation/Compensatory Time Off Cash –Out During Employment Sample Clauses

Vacation/Compensatory Time Off Cash –Out During Employment. Any unit employee who has completed at least one year of service with the City may cash out up to 40 hours of either vacation, compensatory time off or a combination of both. Each employee may cash out up to forty (40) hours one time per fiscal year. If the employee cashes out vacation, it will be cashed out at the base rate of pay. If the employee cashes out compensatory time off, it will be cashed out at the regular rate of pay. Effective for calendar year 2021 and every year thereafter: By December 15 (the first year being 2020) of each year, employees may make an irrevocable election to cash out up to 40 hours of vacation which they can accrue per year which will be earned in the following calendar year (or 40 hours of compensatory time off which they may earn in the following year) at the employee’s base rate of pay (and at the regular rate of pay for cash out of compensatory time off). In the following year, the employee can receive the cash for the leave they irrevocably elected to cash out in the first pay period of December. If an employee’s vacation or compensatory time off leave balance is less than the amount the employee elected to cash out (in the prior calendar year) the employee will receive cash for the amount of leave the employee has accrued at the time of the cash out. If an employee makes an irrevocable election to cash out vacation or compensatory time off in the following calendar year and uses such leave in that subsequent year, the vacation or compensatory time off leave used will come from the leave the employee had earned prior to January 1 of the year the employee has elected to cash out vacation or compensatory time off. This is to ensure that assuming an employee had a vacation leave or compensatory time off balance prior to January 1, the leave used will not result in a reduction in the amount of leave the employee will be eligible to cash out. In addition to the above, starting in calendar year 2021, an employee who has an “unforeseen emergency” (defined as an unanticipated emergency that is caused by an event beyond the control of the employee and that would result in severe financial hardship to the employee if early withdrawal were not permitted) shall be entitled to make a request to the Director of Human Resources for a payoff of accrued vacation or compensatory time off of up to a total of 40 hours. Further details on unused accumulated vacation leave and RHSP are set forth in Article Four of this MOU.
Sample 1
AutoNDA by SimpleDocs
Vacation/Compensatory Time Off Cash –Out During Employment. Any unit employee who has completed at least one year of service with the City may cash out up to 40 hours of either vacation, compensatory time off or a combination of both. Each employee may cash out up to forty (40) hours one time per fiscal year. If the employee cashes out vacation, it will be cashed out at the base rate of pay. If the employee cashes out compensatory time off, it will be cashed out at the regular rate of pay. Unit employees will have all of their accumulated vacation hours placed into their RHSP account upon their retirement. (Unit employees with less than twenty (20) years of full-­‐ time service with the City who separate for any reason other than retirement shall have their vacation hours cashed out at the base hourly rate and paid in the final paycheck). Further details on unused accumulated vacation leave and RHSP are set forth in Article Four of this Agreement.
Sample 1

Related to Vacation/Compensatory Time Off Cash –Out During Employment

  • Sick Leave Separation Cash Out ‌ At the time of retirement from state service or at death, an eligible employee or the employee’s estate will receive cash for their compensable sick leave balance on a one (1) hour for four (4) hours basis. For the purposes of this Section, retirement will not include “vested out of service” employees who leave funds on deposit with the retirement system.

  • Sick Leave During Vacation Where an employee qualifies for sick leave due to illness or injury during the period of vacation time, sick leave shall displace vacation leave. An illness or injury occurring while the employee is on scheduled vacation time shall not be accepted as a claim for sick leave benefits unless recuperation involves hospitalization or confinement to bed by order of a medical practitioner. Written medical verification of such illness or injury and hospitalization or confinement must be provided to the Employer in order for the employee to be eligible for sick leave benefits.

  • Sick Leave Cash Out Eligible employees may elect to receive monetary compensation for accrued sick leave as follows: In January of each year an employee whose sick leave balance at the end of the previous year exceeds four hundred eighty (480) hours may elect to convert the sick leave hours earned in the previous calendar year, minus those hours used during the year, to monetary compensation. No sick leave hours may be converted which would reduce the calendar year end balance below four hundred eighty (480) hours. Monetary compensation shall be paid at the rate of twenty-five percent and shall be based on the employee’s current salary. All converted hours will be deducted from the sick leave balance. Employees who separate from University service due to retirement or death shall be compensated for the unused sick leave accumulation from the date of most recent hire in a leave eligible position with the State of Washington at the rate of 25%. Compensation shall be based upon the employee’s wage at the time of separation. For the purpose of this section, retirement shall not include vested out of service employees who leave funds on deposit with the retirement system. Former eligible employees who are re-employed within three (3) years of their separation from service shall be granted all unused sick leave credits, if any, to which they are entitled at time of separation.

  • Compensatory Time Off i) Regular and non-regular type 2 faculty members may choose, prior to starting an overload, whether to accept financial compensation or compensatory time off as payment for the overload.

  • Vacation Cash Out In each calendar year, an employee may make a one-time request to cash out and receive payment for up to forty (40) hours of vacation. In order to be eligible to cash out vacation hours, the employee must be a regular status employee and have a remaining vacation balance of sixty (60) hours or more. Vacation leave that has been pre-approved will be considered when the request is made in order to determine if they will maintain the minimum vacation balance requirement.

  • Election of Cash/Compensatory Time Off Justice—

  • Sick Leave Incentive Effective September 1, 1986, employees covered by this Agreement, hired on or after October 1, 1977, who are not entitled to disability leave under State Statute R.C.W. 41.26, shall be eligible for the following sick leave incentive program:

  • Work During Vacation Period No employee shall be required to work during the employee's vacation once the vacation request has been approved.

  • Accrued 100% sick leave The use of sick leave under this subsection is at the employee's discretion.

  • Bereavement During Vacation Where an employee's scheduled vacation is interrupted due to a bereavement, the employee shall be entitled to bereavement leave in accordance with Article 12.04. The portion of the employee's vacation which is deemed to be bereavement leave under the above provisions will not be counted against the employee's vacation credits.

Time is Money Join Law Insider Premium to draft better contracts faster.