Voluntary PTO Sell-Back Sample Clauses

Voluntary PTO Sell-Back. 1. Employees who have a PTO bank balance of more than eighty (80) hours may be eligible to request a “sell-back” of PTO once per year. Employees can only request hours that would reduce the balance to no less than eighty (80) hours in their PTO bank at the time of the request.
Sample 1Sample 2Sample 3See All (6)
AutoNDA by SimpleDocs
Voluntary PTO Sell-Back. Eligible employees who have a PTO bank balance of at least eighty (80) hours may be eligible to request a “sell-back” of PTO once per year. Requested hours will be paid on the first pay date in April of each year. The request must be submitted through the Employee Self Service for final approval and delivery to the Payroll department. PTO hours will be deducted from the employee’s PTO bank. These hours will be converted to dollars based on the employee’s current hourly rate excluding any shift differential. The PTO sell-back amount is subject to six percent (6%) penalty/forfeiture in addition to all applicable payroll taxes. PTO sell-back will be distributed via normal payroll distribution channels.
Sample 1

Related to Voluntary PTO Sell-Back

  • Voluntary Demotion An employee requesting a voluntary demotion from a higher-rated position and who is subsequently demoted to the lower-rated position, shall be paid on the increment step appropriate to the employee’s continuous service with the Employer. A voluntary demotion shall not change an employee’s anniversary date.

  • Voluntary Demotions For purposes of this Section, the term Aopening@ shall apply to any permanent vacancy in a classification. An employee may vacate from his current classification once per year given there is an opening and the employee is qualified to perform in the lower classification to which the employee has requested a demotion. The Department will assign voluntarily demoted employees beginning with the next employee pay cycle. Employees will have thirty (30) days to certify for position openings. No employee shall be displaced from the Department through a voluntary demotion. Employees who voluntarily demote to a lower classification will be placed in the new payline for the lower classification based on their years of service in the lower classification. Employees that voluntarily demote to the classification of Firefighter will receive credit for total time spent in the Department when being placed on that payline.

  • Involuntary Demotion An employee assigned to a lower rated position shall continue to be paid at the employee's current rate of pay until the rate of pay in the new position equals or exceeds it.

  • Voluntary Layoff Appointing authorities will allow an employee in the same job classification and department where layoffs will occur to volunteer to be laid off provided that the employee is in a position requiring the same skills and abilities, as a position subject to layoff. Any volunteer for layoff shall have no formal layoff option. If the appointing authority accepts the employee’s voluntary request for layoff, the employee will submit a non-revocable letter stating they are accepting a voluntary layoff from the University. The employee will be placed on all applicable rehire lists.

  • Voluntary Deductions A. The Employer agrees to deduct from the wages of any employee who is a member of the Union a DRIVE and/or a Teamsters Legal Defense Fund deduction as provided for in a written authorization. Such authorization must be executed by the employee and may be revoked by the employee at any time by giving written notice to both the Employer and the Union. The beginning and/or termination of this deduction will coincide with the payroll cycle. The Employer agrees to remit any deductions made pursuant to this provision to the Union together with a report showing:

  • DEBARMENT, SUSPENSION, INELIGIBILITY AND VOLUNTARY EXCLUSION By executing this contract the firm affirms that it is in compliance with the requirements of 2 C.F.R. Part 180 and that neither it, its principals, nor its subcontractors are presently debarred, suspended, proposed for debarment, declared ineligible, or voluntarily excluded from participation in this transaction by any Federal department or agency.

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