Banked Vacation. Once every five years an employee may bank one full year's vacation to be taken in conjunction with the next year's vacation. For the purposes of this clause, all vacation in the second year must be taken concurrently.
Banked Vacation. Effective January 1, 1993, upon eligibility for 25 working days (five weeks) of annual vacation, employees may defer and accumulate any vacation entitlement beyond 15 days per year. A maximum of 30 weeks' vacation may be banked. Banked vacation may be taken at a later date, subject to the supervisor's approval, or may be taken as a cash payment upon retirement.
Banked Vacation. Employees may bank regular vacation credits in excess of the legal requirement for purposes of retirement, up to a maximum of twelve (12) weeks. These twelve (12) weeks of banked regular vacation must be taken immediately prior to retirement and will be paid at the employee’s current rate of vacation pay at the time when taking the banked vacation time off. An employee must advise the Company by February 1st of each year the amount of vacation time they would like to bank.
Banked Vacation a) Employees shall be permitted to bank up to five (5) working days’ vacation to be taken in the following vacation year.
Banked Vacation. 23.9.1 Effective January 1, 2014, there shall be no banking of vacations.
Banked Vacation. Annual vacation entitlement must normally be scheduled and taken throughout the calendar year. If the entitlement is not fully used in the calendar year, the balance may be paid out at the end of the year or may be deferred for up to one year. Employees shall have the following choices regarding payout of already banked vacation: either full payout, or partial payout with retention of the residual banked vacation or no payout with retention of all banked vacation.
Banked Vacation. Subject to a supervisor’s approval as to timing, effective January 1, 2004, Employees eligible for vacation in accordance with Articles 38.3 or 38.4 will be allowed to defer one week of vacation entitlement into the subsequent year.
Banked Vacation. Effective January upon eligibility for working days (three weeks) of annual vacation, employees may defer and accumulate any vacation entitlement beyond days per year. A maximum of weeks‘ vacation may be banked. Banked vacation may be taken at a later date, subject to the Supervisor’s approval, or may be taken as a cash payment upon retirement. Vacation Bonus Employees shall receive one day’sbase pay (or adjusted earnings) for each year of service beyond twenty-five (25) years, to a maximum of ten (10) days’ pay. Vacation Entitlement on
Banked Vacation. Employees entitled to three (3) weeks vacation must use at least two (2) such weeks as actual vacation in any one year. In addition, they may elect to bank a maximum of one (1) vacation week per year. Employees entitled to four (4) weeks or more vacation may elect to bank up to a maximum of two (2) vacation weeks per year but must use the remaining time during the year. The maximum amount of vacation that may be banked shall be ten (10) weeks. Employees who choose not to pick vacation time at the annual vacation pick are responsible for scheduling all of their vacation time. Any current vacation time not previously picked or denied because of manpower needs and not used or banked by December 31st will be lost. However, employees who suffer an on-the- job injury and are unable to take their vacation time will be permitted to bank time up to the 400 hours limit as defined above. Banked vacation weeks, when taken, will be paid for at the employee's rate in effect at the time the employee was originally eligible to take such weeks. In the event of an imminent layoff in any job classification or classifications, employees in such classifications must use their accumulated vacations as directed by management, and the practice of accumulating vacation weeks will be temporarily suspended for such classification or classifications. Any employee who resigns or is discharged prior to taking accumulated vacation weeks only will receive a cash payment for such weeks based on the employee's rate of pay in effect at the time the employee was originally eligible to take such weeks. Employees who retire may, at their option, take accumulated vacation prior to their retirement date or receive a cash payment for such weeks based on the employee's rate of pay in effect at the time the vacation was earned. In case of the death of an employee prior to taking accumulated vacation weeks, a cash payment for such weeks will be based on the employee's rate of pay in effect at the time the employee was originally eligible to take such weeks. Payment will be made to the employee's surviving spouse or legal beneficiary.
Banked Vacation. When eligible for five (5) weeks vacation employees will have the option of banking up to two (2) weeks per year of vacation time to a maximum of thirty (30) weeks to be taken at a later date, subject to supervisor’s approval, or taken as a cash payout upon retirement. Regular Part-Time Employees Regular part-time employees are eligible for paid vacation time off. The entitlement is based on calendar years of service and payment for time off is calculated on a pro-rata basis. (Ref. Part A, Item 1.2.2).
