Common use of Vacation Deferral Clause in Contracts

Vacation Deferral. Unused vacation leave may be deferred from year to year, only to the extent of one year's accrual, or paid off in January, except as otherwise approved by the department head, whose decision may be appealed to the Division Director. Employees may elect to contribute their unused vacation leave payout, in part or in whole, into their individual deferred compensation account. Such deferrals are subject to current statutory contribution limits, IRS Code Section 457, and/or plan document requirements.

Vacation Deferral. Unused vacation leave may be deferred from year to year, only to the extent of one year's accrual, or paid off in JanuaryDecember, except as otherwise approved by the department head, whose decision may be appealed to the Division Director. Employees may elect to contribute their unused vacation leave payout, in part or in whole, into their individual deferred compensation account. Such deferrals are subject to current statutory contribution limits, IRS Code Section 457, and/or plan document requirements.