Cashing out definition

Cashing out all or part of their accrued leave; or • Taking the leave as per normal
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Cashing out all or part of their accrued leave; or • Taking the leave as per normal CLAUSE 35 – CUSTOMER SERVICE AND EMPLOYEE COMMITMENT
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Cashing out means withdrawing 401(k) balances in the form of cash, rather than retaining the balances in the previous employer’s 401(k) account or “rolling over” the balances to an IRA. While some of these cash balances could eventually be contributed to an IRA, it is unlikely that an employee would withdraw cash, pay taxes and fees, and then redeposit in a retirement account when a rollover would save the taxes and fees. The sources is “Hewitt Study Shows Nearly Half of U.S. Workers Cash Out of 401(k) Plans When Leaving Jobs,” Press Release, July 25, 2005. Accessed on May 2, 2006 at http://was4.hewitt.com/hewitt/resource/newsroom /pressrel/2005/07-25-05.htm
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Examples of Cashing out in a sentence

  • Cashing out will not be considered for employees who, in the Department Director’s judgment, could have taken earned vacation but wish to cash it out to avoid losing earned leave due to the accrual ceiling.

  • Cashing out personal time will not count toward the limit of two weeks per year for cash out of earned/vacation time.

  • Cashing out of leave is based on the provisions in the Australian Fair Pay and Conditions Standard.

  • Cashing out of leave shall only be done in accordance with the Australian Fair Pay and Conditions Standard.

  • Cashing out of annual leave is limited to two periods per annum as follows: ▪ In the month prior to the end of financial year (June) ▪ In the month prior to the end of calendar year (December) Payment made in lieu of annual leave will be taxed in accordance with Australian Tax Office guidelines, which may differ from the employee’s normal weekly taxation.

  • Cashing out annual leave Cashing out of annual leave is not permitted for health and safety reasons.

  • Cashing out of annual leave Paid annual leave must not be cashed out except in accordance with an agreement under this clause.

  • Cashing out compensation for accrued leave without actually taking the paid time off or upon termination cannot be used for eligibility for the following month.

  • Cashing out of leave will only be granted under exceptional circumstances, at the discretion of the relevant Director.

  • Cashing out annual leave is by agreement between a Marine Pilot and the Port Authority.