Common use of Vacation Transfer and Liquidation Clause in Contracts

Vacation Transfer and Liquidation. An employee who transfers from one Appointing Authority to another shall have accumulated vacation leave transferred and such leave shall not be liquidated by cash payment in whole or in part; however, if an employee moves to a vacation- ineligible position, the accumulated vacation leave shall be liquidated by cash payment. Except for employees who are separated from State service prior to completion of six (6) months of continuous service or those separated due to layoff or death, employees who are separated from State service shall have all unused vacation leave and severance pay as described in Article 13 converted to a MSRS Health Care Savings Plan account. The amount converted will be based on his/her then current rate of pay for all vacation leave and severance pay to his/her credit at the time of separation. Amounts of combined vacation and severance payments of less than five hundred dollars ($500.00) shall be paid in cash. Employees who are laid off shall be compensated in cash at his/her then current rate of pay for all vacation leave to his/her credit at the time of layoff. However, in no case shall the amount of vacation liquidated exceed two hundred sixty (260) hours except in case of death. Employees who are laid off and are unable to reduce their accumulated vacation below two hundred sixty (260) hours prior to their layoff date shall have hours in excess of two hundred sixty (260) restored to their credit upon reinstatement, recall or reemployment. Upon the mutual agreement of the employee and the supervisor, seasonal employees shall be allowed to liquidate all, none, or a portion of their accumulated vacation balances in cash prior to their seasonal or temporary layoff.

Vacation Transfer and Liquidation. An employee who transfers from one Appointing Authority to another shall have accumulated vacation leave transferred and such leave shall not be liquidated by cash payment in whole or in part; however, if an employee moves to a vacation- ineligible position, the accumulated vacation leave shall be liquidated by cash payment. Except for employees who are separated from State service prior to completion of six (6) months of continuous service or those separated due to layoff or death, employees who are separated from State service shall have all unused vacation leave and severance pay as described in Article 13 converted to a MSRS Health Care Savings Plan account. The amount converted will be based on his/her then current rate of pay for all vacation leave and severance pay to his/her credit at the time of separation. Amounts of combined vacation and severance payments of less than five two hundred dollars ($500.00200.00) shall be paid in cash. Employees who are laid off shall be compensated in cash at his/her then current rate of pay for all vacation leave to his/her credit at the time of layoff. However, in no case shall the amount of vacation liquidated exceed two hundred sixty (260) hours except in case of death. Employees who are laid off and are unable to reduce their accumulated vacation below two hundred sixty (260) hours prior to their layoff date shall have hours in excess of two hundred sixty (260) restored to their credit upon reinstatement, recall or reemployment. Upon the mutual agreement of the employee and the supervisor, seasonal employees shall be allowed to liquidate all, none, or a portion of their accumulated vacation balances in cash prior to their seasonal or temporary layoff.

Vacation Transfer and Liquidation. An employee who transfers from one Appointing Authority to another shall have accumulated vacation leave transferred and such leave shall not be liquidated by cash payment in whole or in part; however, if an employee moves to a vacation- ineligible position, the accumulated vacation leave shall be liquidated by cash payment. Except for employees who are separated from State service prior to completion of six (6) months of continuous service or those separated due to layoff or death, employees who are separated from State service shall have all unused vacation leave and severance pay as described in Article 13 converted to a MSRS Health Care Savings Plan account. The amount converted will be based on his/her their then current rate of pay for all vacation leave and severance pay to his/her their credit at the time of separation. Amounts of combined vacation and severance payments of less than five hundred dollars ($500.00) shall be paid in cash. Employees who are laid off shall be compensated in cash at his/her their then current rate of pay for all vacation leave to his/her their credit at the time of layoff. However, in no case shall the amount of vacation liquidated exceed two hundred sixty (260) hours except in case of death. Employees who are laid off and are unable to reduce their accumulated vacation below two hundred sixty (260) hours prior to their layoff date shall have hours in excess of two hundred sixty (260) restored to their credit upon reinstatement, recall or reemployment. Upon the mutual agreement of the employee and the supervisor, seasonal employees shall be allowed to liquidate all, none, or a portion of their accumulated vacation balances in cash prior to their seasonal or temporary layoff.

Vacation Transfer and Liquidation. An employee who transfers from one Appointing Authority to another shall have accumulated vacation leave transferred and such leave shall not be liquidated by cash payment in whole or in part; however, if an employee moves to a vacation- ineligible positionposition that is not covered by this agreement, the accumulated vacation leave shall be liquidated by cash payment. Except for employees who are separated from State service prior to completion of six (6) months of continuous service or those separated due to layoff or death, employees who are separated from State service shall have all unused vacation leave and severance pay as described in Article 13 converted to a MSRS Health Care Savings Plan account. The amount converted will be based on his/her then current rate of pay for all vacation leave and severance pay to his/her credit at the time of separation. Amounts of combined vacation and severance payments of less than five two hundred dollars ($500.00200.00) shall be paid in cash. Employees who are laid off shall be compensated in cash at his/her then current rate of pay for all vacation leave to his/her credit at the time of layoff. However, in no case shall the amount of vacation liquidated exceed two hundred sixty (260) hours except in case of death. Employees who are laid off and are unable to reduce their accumulated vacation below two hundred sixty (260) hours prior to their layoff date shall have hours in excess of two hundred sixty (260) restored to their credit upon reinstatement, recall or reemployment. Upon the mutual agreement of the employee and the supervisor, seasonal employees shall be allowed to liquidate all, none, or a portion of their accumulated vacation balances in cash prior to their seasonal or temporary layoff.