Common use of Year End Payouts Clause in Contracts

Year End Payouts. Annually by November 1, an employee desiring to 17 receive payment for unused holiday and compensatory hours as defined 18 in Article 21, Overtime and Article 24, Holidays; must complete and submit 19 to the City payroll office a leave conversion form indicating the number of 20 eligible compensatory and holiday hours for which the employee would 21 like to receive in a check as a cash out of the eligible balances. In January 22 of the following year, 100% of the cash value of any remaining 23 compensatory and holiday hours elected for payment after the December 1 payout will be contributed to the employee’s Health Care Savings

Year End Payouts. Annually by November 1, an employee desiring 17 to 17 receive payment for unused holiday and compensatory hours as 18 defined 18 in Article 21, Overtime and Article 24, Holidays; must 19 complete and submit 19 to the City payroll office a leave conversion 20 form indicating the number of 20 eligible compensatory and holiday 21 hours for which the employee would 21 like to receive in a check as a 22 cash out of the eligible balances. In January 22 of the following year, 23 100% of the cash value of any remaining 23 compensatory and 24 holiday hours elected for payment after the December 1 payout will 25 be contributed to the employee’s Health Care SavingsSavings Account.

Year End Payouts. Annually by November 1, an employee desiring to 17 receive payment for unused holiday and compensatory hours as defined 18 in Article 2120, Overtime and Article 2423, Holidays; Holidays must complete and submit 19 to the City payroll office a leave conversion form indicating the number of 20 eligible compensatory and holiday hours for which the employee would 21 1 like to receive in a check as a cash out of the eligible balances. In 2 January 22 of the following year, 100% of the cash value of any remaining 23 3 compensatory and holiday hours elected for payment after the December 1 4 payout will be contributed to the employee’s Health Care SavingsSavings 5 Account.

Year End Payouts. Annually by November 1, an employee desiring 2 to 17 receive payment for unused holiday and compensatory hours as 3 defined 18 in Article 21, Overtime and Article 24, Holidays; must 4 complete and submit 19 to the City payroll office a leave conversion 5 form indicating the number of 20 eligible compensatory and holiday 6 hours for which the employee would 21 like to receive in a check as a 7 cash out of the eligible balances. In January 22 of the following year, 8 100% of the cash value of any remaining 23 compensatory and 9 holiday hours elected for payment after the December 1 payout will 10 be contributed to the employee’s Health Care SavingsSavings Account.

Year End Payouts. Annually by November 1, an employee desiring to 17 9 receive payment for unused holiday and compensatory hours as defined 18 10 in Article 21, Overtime and Article 24, Holidays; must complete and submit 19 11 to the City payroll office a leave conversion form indicating the number of 20 12 eligible compensatory and holiday hours for which the employee would 21 13 like to receive in a check as a cash out of the eligible balances. In 14 January 22 of the following year, 100% of the cash value of any remaining 23 15 compensatory and holiday hours elected for payment after the December 1 16 payout will be contributed to the employee’s Health Care SavingsSavings 17 Account.

Year End Payouts. Annually by November 1, an employee desiring 17 to 17 receive payment for unused holiday and compensatory hours as 18 defined 18 in Article 2120, Overtime and Article 2423, Holidays; Holidays must 19 complete and submit 19 to the City payroll office a leave conversion 20 form indicating the number of 20 eligible compensatory and holiday 21 hours for which the employee would 21 like to receive in a check as a 22 cash out of the eligible balances. In January 22 of the following year, 23 100% of the cash value of any remaining 23 compensatory and 24 holiday hours elected for payment after the December 1 payout will 25 be contributed to the employee’s Health Care SavingsSavings Account.