VACATION CREDIT ON FACTOR ACCRUAL SYSTEM Sample Clauses

VACATION CREDIT ON FACTOR ACCRUAL SYSTEM. A full-time employee for a period of six (6) months or more will earn vacation from the date of appointment. An employee must be on pay status for a least one-half (1/2) of the working hours of a month or quadri-weekly cycle, (i.e., two• consecutive biweekly pay periods) based on the number of hours on pay status for that month or quadri-weekly cycle to earn vacation at the following rates: Qualifying Service* Per Hour on Pay Status** Approximate Yearly Earning*** Maximum Accumulated Balance Less than 10 .057692 15 days 240 Hours 10 but less than 15 .069231 18 days 288 Hours 15 but less than 20 .080769 21 days 336 Hours 20 or more .092308 24 days 384 Hours *Qualifying Service is defined as a month of service at a one half ( 1/2) time or more appointment. This includes time on military leave from the University. Eligible employees will earn vacation credit during a leave with pay. Vacation is credited at the end of the month in which it is earned except that an eligible employee who is terminating University service earns proportionate vacation through the last day on pay status. Vacation is earned proportionately to time worked for a regular schedule of work in excess of fifty (50%) percent. No vacation can be earned for time worked in excess of full time. **Time on pay status in excess of a full-time employee's work schedule does not earn vacation credit. *** Full time rate.
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Related to VACATION CREDIT ON FACTOR ACCRUAL SYSTEM

  • Vacation Accrual Rates Laid off employees who are re-employed shall have the vacation accrual rate they held immediately prior to layoff restored.

  • Vacation Leave Accrual Rate Schedule Full Years of Service Hours Per Year During the first year of current continuous employment Ninety-six (96) During the second year of current continuous employment One hundred four (104) During the third and fourth years of current continuous employment One hundred twelve (112) During the fifth, sixth, and seventh years of total employment One hundred twenty (120) During the eighth, ninth, and tenth years of total employment One hundred twenty-eight (128) During the eleventh year of total employment One hundred thirty-six (136) During the twelfth year of total employment One hundred forty-four (144) During the thirteenth year of total employment One hundred fifty-two (152) During the fourteenth year of total employment One hundred sixty (160) During the fifteenth year of total employment One hundred sixty-eight (168) During the sixteenth year of total employment and thereafter One hundred seventy-six (176)

  • Accrual Rate of Sick Leave With Pay Credits Full-time employees shall accrue eight (8) hours of sick leave with pay credits for each full month worked. Employees who work less than the full month but at least thirty-two (32) hours during the month shall accrue sick leave with pay on a pro rata basis for the month.

  • Vacation Credits All employees shall participate in the County’s Terminal Pay Plan (Plan). However, only the terminal paychecks (including unused vacation) of those employees who have reached the age of fifty-five (55) shall be placed into the Plan. These terminal paychecks shall be placed into the Plan on a pre-tax basis in accordance with the Plan, all applicable laws and all rules and regulations applicable to the Plan.

  • Borrowing of Unearned Vacation Credits With the approval of the Employer, an Employee who has been employed for a period of five (5) or more years may be granted five (5) days from the vacation leave of the next subsequent year.

  • Vacation Credit Any outstanding vacation entitlement for a person going on LTD will be paid in cash upon expiry of sick leave. The cash payment will be calculated on the base earnings at the expiration of sick leave for the prorated days of vacation entitlement, any outstanding lieu days, any outstanding floating statutory holidays, and banked time for 40-hour per week employees. No vacation entitlement, floating holidays, or banked time for 40-hour per week employees accrues while a member is in receipt of LTD benefits.

  • Current Salary Level An employee who accepts another position with his or her current salary range will retain his or her current salary.

  • Lower Salary Level An employee who accepts another position with a lower salary range will be paid an amount equal to his or her current salary, provided it is within the salary range of the new position. In those cases where the employee’s current salary exceeds the maximum amount of the salary range for the new position, the employee will be compensated at the maximum salary of the new salary range.

  • Maximum Vacation Accrual Employees may accrue vacation up to a maximum of two hundred forty (240) hours. An employee who has reached the maximum accrual level may continue to accrue vacation until his or her next anniversary date, at which time any vacation accrued in addition to the two hundred forty (240) hour maximum accrual will be extinguished. With the written approval of the appropriate Vice President, an employee may accrue more than two hundred forty (240) hours of vacation when he or she is precluded from taking a previously scheduled vacation because of University needs. Any such written approval will specify a timeline for the employee to use any excess vacation accrual, after which any excess vacation accrual will be extinguished.

  • Annual Leave Accrual If an employee leaves State Classified employment and is later rehired, he/she shall accrue annual leave at the same rate as a new hire. However, once a rehired employee has been in pay status for five (5) years, all previous service time shall be credited for annual leave accrual. The only exception shall be for employees rehired who repay severance pay received.

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