Vacation Leave Cash Out. Employees who complete twelve (12) months of employment and voluntarily end employment or reduce their FTE to below 0.5 FTE, will be paid for unused vacation if they give the required advanced notice (14 calendar days). No sick or vacation time will accrue during the advanced notice period. Vacation leave may also be cashed out to an employee when the employee’s leave balance exceeds 100 hours at one hundred percent (100%) of the employee’s regular rate of pay. The request for cash-out must be submitted in writing five (5) days prior to the end of the pay period. All cash-outs are subject to lawful withholding.
Vacation Leave Cash Out. By no later than December 15th of each year, employees may make an irrevocable decision to cash out up to 50 hours of vacation that will be accrued during the next year. Cash Out requests must be made on a form to be provided by the County and shall include the number of hours the employee wishes to cash out and the date, after July 1, in the following year on which the employee wishes to receive the payment. The payment will occur in the pay period immediately following the date selected. Irrevocable Election: Once made, both the election to cash out vacation leave and the date upon which the cash out is scheduled to occur is irrevocable. Employees will only be able to modify the date scheduled in cases of unforeseen emergencies, such as an unanticipated need to utilize vacation leave for a leave of absence due to medical reasons, and only upon approval of the Personnel Director or his or her designee. If, on the date scheduled for cash out, the employee does not have enough vacation leave available to satisfy the election, the County will cash out the vacation leave up to the amount available. In that case, the County will be deemed to have satisfied its obligation to cash out vacation leave pursuant to the employee’s election and no further cash out will occur. For example, if an employee elects to cash out 5 days of vacation leave on August 1, but only has 3 days of vacation leave available on that date, the County will cash out the employee’s available 3 days of vacation leave and no further cash out will occur pursuant to that election.
Vacation Leave Cash Out. Employees may elect to receive compensation for accrued vacation leave at the employee’s current base rate pursuant to Article
Vacation Leave Cash Out. After three (3) years of service, an employee shall be able to cash out 24 hours of vacation leave at their current rate of pay. After five (5) years of service, an employee shall be able to annually cash out up to 64 hours of vacation leave at their current rate of pay. After ten
Vacation Leave Cash Out. 31 A two hundred sixty (260) day employee may cash out up to five (5) days of vacation leave, one 32 time per fiscal year. Upon making notification to Payroll, the employee will be paid in the next 33 applicable paycheck. 34 35 36 37 A R T I C L E I X 38 39 LEAVES 41 The intent of the leave provisions is to make it possible for employees to be absent for the purposes 42 provided for in this Article. Any abuse of the leave provisions, as determined by the District, or the 43 procurement of leave benefits by fraud, deceit, or falsified statement, shall result in loss of pay for the 44 days missed and/or disciplinary action.
Vacation Leave Cash Out. A. Vacation Leave Cash Outs through December 31, 2018 - Employees will have the following cash-out options: 1) One eighty (80) hour cash-out any time during the fiscal year, regardless of the employee’s maximum accrual and regardless of the employee’s Vacation Leave usage; and, 2) Up to four cash-outs per fiscal year, any time during the fiscal year (irrespective of quarter), based on a “2 for 1” usage ratio, up to a maximum of 80-hours for each cash out. For example, if an employee uses 10 hours of Vacation Leave, the employee could cash out up to 20 hours of Vacation Leave; in order for an employee to cash-out the maximum of 80-hours Vacation Leave, the employee would need to use 40 hours of Vacation Leave. All employees who are at the Maximum Accrual Level or who may reach the Maximum Accrual Level shall utilize the “Cash-Out” and/or “Vacation Leave” options so as to NOT exceed the Vacation Accrual Ceiling. Other than exceptions granted based upon City and/or Departmental needs as approved by both the Chief of Police and the City Manager, there will no other cash-out of Vacation Leave time beyond the Maximum Accrual rates that have been established. This subsection (a) shall end on December 31, 2018.
B. Vacation Leave Cash Out for 2019 and Thereafter - On or before the pay period which includes December 15 of each calendar year (which includes December 15, 2018), an employee may make an irrevocable election to cash out up to one hundred and twenty (120) hours of vacation leave which will be earned in the following calendar year at the employee’s base rate of pay as follows: An employee can cash out vacation during any quarter of the following year as long as on the date(s) chosen for cash out the employee has earned at least the amount of vacation he/she chooses to cash out. In other words, employees who made an irrevocable election to cash out vacation (up to a maximum of 120 hours for the year) shall choose to be paid out during one or more of the following payroll periods: • Payroll period which includes April 1st • Payroll period which includes July 1st • Payroll period which includes October 1st • Final Payroll period of the calendar year. Employees will notify the Human Resources Division of which quarter(s) they wish their cash outs to be paid by the payroll deadlines as set by the Finance Department and Human Resources Division. Any remaining elected vacation hours that have not been previously paid out during the year will be paid out on the fi...
Vacation Leave Cash Out. A. Vacation Leave Cash Outs through December 31, 2018: Employees will have the following cash-out options: 1) One eighty (80) hour cash-out any time during the fiscal year, regardless of the employee’s maximum accrual and regardless of the employee’s Vacation Leave usage; and,
Vacation Leave Cash Out. Members of this unit may cash out annual leave above an accumulation of two hundred (200) hours. At the employee’s option, annual leave can be cashed out in August of each year following any year in which a minimum of two hundred (200) hours is accrued and each August thereafter. A maximum of ten (10) days each year may be cashed out, provided that the cash out does not cause the employee’s annual leave balance to fall below two hundred (200) hours at time of cash out. This shall be accomplished by submitting in writing to Payroll the request no later than June 10 stating the number of days the individual wishes to cash out.
Vacation Leave Cash Out. 26 A. Eligibility
Vacation Leave Cash Out. To cash out Vacation Leave hours, a Leave Cash-Out Pre-Designation Agreement must be submitted by the due date. The following guidelines apply: Employee must have used at least 80 hours of Vacation Leave during the preceding payroll calendar year. Request must not be less than 10 hours and may not exceed 60 hours. Request must not exceed the number of hours designated on the Leave Cash-Out Pre-Designation Agreement. Cash-out “With Penalty” is not an option. Request must not exceed the number of hours accrued for the current calendar year. Leave hours are available for cash out in the pay period following the actual accrual. All leave cash-out requests must be in whole hour increments. Only one cash-out request may be submitted during a payroll calendar year. Any pre-designated hours not used or cashed out by the last pay period of the payroll calendar year will automatically be converted into cash in the last pay period of the payroll calendar year. A Leave Cash-Out Request form is not required in the last pay period of the payroll calendar unless the employee wants to designate the distribution to 457(b) Deferred Compensation Plan.
