Paid Time Off Plan Sample Clauses
A Paid Time Off (PTO) Plan clause establishes the policy by which employees can take compensated leave from work for reasons such as vacation, illness, or personal matters. Typically, the clause outlines how PTO is accrued—such as a set number of hours per pay period—and may specify procedures for requesting time off, any limitations on carryover, and whether unused PTO is paid out upon termination. The core function of this clause is to provide clear guidelines for both employees and employers regarding time away from work, ensuring fairness and consistency in the administration of paid leave.
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Paid Time Off Plan. A Paid Time Off Plan is any plan or similar arrangement under which the Employer provides to Employees vacation, sick or other leave for which the Employer pays the Employee, and agrees to compensate the Employee for part or all of the unused leave.
Paid Time Off Plan. 11.1 Paid Time Off Plan. All employees hired after December 5, 2005 will be required to participate in the PTO Plan
a) Accrual Rate: Years of Service Accrual per Hour of Service (To maximum hours/days per year) For Employees hired January 1, 2022 and after: .0769 hours per hour worked (160 hours/20 days per year) Less than 5 years of service .0808 hours per hour (168 hours/21 days per year) Completed 5 years but less than 10 years of .0923 hours per hour (192 hours/24 days per year) Completed 10 years but less than 15 years of .1039 hours per hour (216 hours/27 days per year) Completed 15 years but less than 20 years of .1154 hours per hour (240 hours/30 days per year) Completed 20 years of service .1385 hours per hour (288 hours/36 days per year)
b) Maximum carry-over of PTO from one calendar year to the next is five hundred (500) hours. All eligible employees participating in PTO shall have their PTO hours over 475 as of December 1st each year, deposited into their individual Health Care Savings Plan (HCSP).
c) Employees may cash out PTO up to ninety (90) hours annually if at least eighty (80) hours of PTO or compensatory time has been used in the previous twelve
Paid Time Off Plan. County Policy for the Paid Time Off Plan (PTO) applies.
a) Accrual Rates: Accrual per Hour of Service Years of Service (to maximum hours/days per year) Less than 5 years of service .0808 hours per hour (168 hours/21 days per year) Completed 5 years but less than 10 years of service .0923 hours per hour (192 hours/24 days per year) Completed 10 years but less than 15 years of service .1039 hours per hour (216 hours/27 days per year) Completed 15 years but less than 20 years of service .1154 hours per hour (240 hours/30 days per year) Completed 20 years of service .1385hours per hour (288 hours/36 days per year)
b) Maximum carry-over of PTO from one calendar year to the next is five hundred (500) hours. All PTO in an employee’s account that exceeds 475 hours as of December 1st each year will be deposited into the employee’s Post Retirement Health Care Savings Plan.
c) Employees may cash out PTO on an annual basis up to ninety (90) hours. Employees may elect to designate all or some of the PTO cash-out as cafeteria plan credits during insurance open enrollment for the purchase of benefits in the following year.
Paid Time Off Plan. 9.1 The Paid Time Off (PTO) Plan, including the Extended Illness Bank (EIB), as provided by the Hospital on the date of this agreement, shall apply to the employees covered by this contract pursuant to the following terms and conditions. Paid Time Off (PTO) is a unique benefit that combines the traditional vacation, holiday, and short term sick leave into a paid “bank” of time off. It is available to part-time and full-time employees. PDR Nurses are not eligible to participate in the PTO plan. Employees begin accruing PTO hours on their first day of regularly scheduled employment and PTO hours may be taken once they are accrued, on a pre-approved basis only. EXTENDED ILLNESS BANK (EIB) No further EIB accrual will occur effective September 18, 2016, the first full pay period following ratification of the RN contract. All existing EIB accruals for then- current nurses shall be frozen as of that date. Nurses hired on or after September 18, 2016 will not accrue or participate in EIB. From the first full pay period in March of 2016 through December 31, 2019, after a seven (7) calendar day waiting period, nurses with accrued EIB may use it for their own illness or (after only 24 scheduled work hours) for a family member. During that time, nurses who have accrued EIB and wish to “top up” their short-term disability or workers’ compensation benefit such that they receive 100% of their compensation must first use EIB. Nurses who have exhausted or do not have accrued EIB may use PTO to “top up” their approved short-term disability or workers’ compensation benefit. From the first full pay period following September 18, 2016 through December 31, 2019, after a waiting period of twenty-four (24) scheduled work hours, nurses with accrued EIB may use it for: (1) approved continuous federal or state leave of absence (includes maternal and paternal baby bonding) to care for a family member’s illness; and (2) approved intermittent leave to care for a family member after PTO has been exhausted. Each nurse’s EIB bank and any accrued EIB held therein will automatically terminate on December 31, 2019 with no further action of the parties, and any remaining EIB balance at that time will not be available for any use. EIB cannot be converted to cash and is not payable upon termination under any circumstances. Effective the first full pay period following September 18, 2016, PTO will be accrued consistent with the Hospital Policy effective December 28, 2014: Eligible nurses will ear...
Paid Time Off Plan. All employees will be required to participate in the PTO Plan, policy guidelines (Rules and Regulations Section 15):
a) Accrual Rate: Years of Service Accrual per Hour of Service (to maximum hours/days per year) For Employees hired January 1, 2019 and after: Less than 5 years of service .0769 hours per hour worked (160 hours/20 days per year) For Employees hired December 31, 2018 and prior: Less than 5 years of service .0808 hours per hour (168 hours/21 days per year) Completed 5 years but less than 10 years of service .0923 hours per hour (192 hours/24 days per year) Completed 10 years but less than 15 years of service .1039 hours per hour (216 hours/27 days per year) Completed 15 years but less than 20 years of service .1154hours per hour (240 hours/30 days per year) Completed 20 years of service .1385 hours per hour (288 hours/36 days per year)
b) Maximum carry-over of PTO from one calendar year to the next is five hundred (500) hours. Any PTO in an employee’s account that exceeds 500 hours as of the pay period which includes December 31 each year will be lost to the employee.
c) Employees may cash out PTO up to ninety (90) hours annually if at least eighty (80) hours of PTO or compensatory time has been used in the previous twelve (12) months. Cash-out of PTO is limited to once per calendar year. Employees cashing out PTO may elect to distribute the amount as cash, as a HSA Contribution (subject IRS limits), or as a 457 Plan Contribution (Subject to IRS limits), in accordance with County Policy. The cash-out amount will not be paid if the accrual is insufficient at the time the cash-out is paid in August. DocuSign Envelope ID: CE519372-5763-4A33-B741-FA680E0C3DD5
Paid Time Off Plan. County Policy for the Paid Time Off Plan (PTO) applies.
a) Accrual Rates: Accrual per Hour of Service Years of Service (to maximum hours/days per year) For Employees hired January 1, 2022 and after: Less than 5 years of service .0769 hours per hour worked (160 hours/20 days per year) Less than 5 years of service .0808 hours per hour (168 hours/21 days per year) Completed 5 years but less than 10 years of service .0923 hours per hour (192 hours/24 days per year) Completed 10 years but less than 15 years of service .1039 hours per hour (216 hours/27 days per year) Completed 15 years but less than 20 years of service .1154 hours per hour (240 hours/30 days per year) Completed 20 years of service .1385 hours per hour (288 hours/36 days per year)
b) Maximum carry-over of PTO from one calendar year to the next is five hundred (500) hours. All PTO in an employee’s account that exceeds 475 hours as of December 1st each year will be deposited into the employee’s Post Retirement Health Care Savings Plan.
c) Employees may cash out PTO on an annual basis up to ninety (90) hours. The cash-out amount will not be processed if the accrual is insufficient at the time the cash-out is paid in August. Employees cashing out PTO may elect to distribute the amount as cash, as a HSA Contribution (subject IRS limits), or as a 457 Plan Contribution (subject to IRS limits), in accordance with County policy.
Paid Time Off Plan. 9.1 The Employer agrees to provide a time off with pay program as offered to other Clinic employees.
Paid Time Off Plan. All employees will be required to participate in the PTO Plan, policy guidelines (Rules and Regulations Section 15)
a) Accrual Rate: Years of Service Accrual per Hour of Service (to maximum hours/days per year) For Employees hired January 1, 2019 and after: Less than 5 years of service .0769 hours per hour worked (160 hours/20 days per year) For Employees hired December 31, 2018 and prior: Less than 5 years of service .0808 hours per hour (168 hours/21 days per year) Completed 5 years but less than 10 years of service .0923 hours per hour (192 hours/24 days per year) Completed 10 years but less than 15 years of service .1039 hours per hour (216 hours/27 days per year) Completed 15 years but less than 20 years of service .1154hours per hour (240 hours/30 days per year) Completed 20 years of service .1385 hours per hour (288 hours/36 days per year)
b) Maximum carry-over of PTO from one calendar year to the next is five hundred (500) hours. Any PTO in an employee’s account that exceeds 500 hours as of the pay period which includes December 31 each year will be lost to the employee.
c) Employees may cash out PTO up to ninety (90) hours annually if at least eighty (80) hours of PTO or compensatory time has been used in the previous twelve (12) months. Cash-out of PTO is limited to once per calendar year.