Effective December. 31, 2006 an employee may not have accrued more than one year’s accumulation in his current vacation bank. Any accrual in excess of one year’s accumulation in his current vacation bank will be transferred to a grandfathered vacation bank, to be used as per Article 12. On December 31 of each year thereafter, an employee may not have accrued more than one year’s accumulation in his current vacation bank. Any accrual in excess of one year’s accumulation in his current vacation bank will be paid out to the employee via payroll processing.
Appears in 4 contracts
Sources: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement