Vacation Buy Back. Employees may elect payment of up to one-third (1/3) of their annual vacation accrual, subject to the following conditions:
Appears in 4 contracts
Samples: Public Employees, Public Employees, Public Employees
Vacation Buy Back. A. Employees may elect payment of up to one-third (1/3) of their annual vacation accrual, subject to the following conditions:: (1) the choice can be made only once in each calendar year; (2) payment is based on an hourly rate determined by dividing the employee’s monthly salary by 173.33; and (3) the maximum number of vacation hours that may be paid in any calendar year is one-third (1/3) of the annual accrual.
Appears in 4 contracts
Samples: Professional and Technical Engineers, Professional and Technical Engineers, Professional and Technical Engineers
Vacation Buy Back. A. Employees may elect payment of up to one-third (1/3) of their annual vacation accrual, subject to the following conditions:: (1) the choice can be made only once in each calendar year; (2) payment is based on an hourly rate determined by dividing the employee’s monthly salary by 173.33; and (3) the maximum number
Appears in 1 contract
Samples: ifpte21.org
