Cashing out definition

Cashing out all or part of their accrued leave; or • Taking the leave as per normal
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Cashing out all or part of their accrued leave; or • Taking the leave as per normal CLAUSE 35 – CUSTOMER SERVICE AND EMPLOYEE COMMITMENT
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Cashing out means withdrawing 401(k) balances in the form of cash, rather than retaining the balances in the previous employer’s 401(k) account or “rolling over” the balances to an IRA. While some of these cash balances could eventually be contributed to an IRA, it is unlikely that an employee would withdraw cash, pay taxes and fees, and then redeposit in a retirement account when a rollover would save the taxes and fees. The sources is “Hewitt Study Shows Nearly Half of U.S. Workers Cash Out of 401(k) Plans When Leaving Jobs,” Press Release, July 25, 2005. Accessed on May 2, 2006 at http://was4.hewitt.com/hewitt/resource/newsroom /pressrel/2005/07-25-05.htm
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Examples of Cashing out in a sentence

  • Cashing out will not be considered for employees who, in the Department Director’s judgment, could have taken earned vacation but wish to cash it out to avoid losing earned leave due to the accrual ceiling.

  • Cashing out personal time will not count toward the limit of two weeks per year for cash out of earned/vacation time.

  • Cashing out of leave is based on the provisions in the Australian Fair Pay and Conditions Standard.

  • Cashing out of leave shall only be done in accordance with the Australian Fair Pay and Conditions Standard.

  • Cashing out of annual leave is limited to two periods per annum as follows: ▪ In the month prior to the end of financial year (June) ▪ In the month prior to the end of calendar year (December) Payment made in lieu of annual leave will be taxed in accordance with Australian Tax Office guidelines, which may differ from the employee’s normal weekly taxation.

  • Cashing out annual leave Cashing out of annual leave is not permitted for health and safety reasons.

  • Cashing out of annual leave Paid annual leave must not be cashed out except in accordance with an agreement under this clause.

  • Cashing out compensation for accrued leave without actually taking the paid time off or upon termination cannot be used for eligibility for the following month.

  • Cashing out of leave will only be granted under exceptional circumstances, at the discretion of the relevant Director.

  • Cashing out annual leave is by agreement between a Marine Pilot and the Port Authority.

Related to Cashing out

  • Revolving Outstandings means, at any time, the sum of (a) the aggregate principal amount of all outstanding Revolving Loans, plus (b) the Stated Amount of all Letters of Credit.

  • Total Revolving Outstandings means the aggregate Outstanding Amount of all Revolving Loans, all Swing Line Loans and all L/C Obligations.

  • Capital outlay means expenditures which

  • Lower income household means a household having an income equal to or less than the

  • Cash or Cash Equivalents means (a) cash; (b) marketable direct obligations issued or unconditionally guaranteed by the United States Government or issued by an agency thereof and backed by the full faith and credit of the United States, in each case maturing within one (1) year after the date of acquisition thereof; (c) marketable direct obligations issued by any state of the United States of America or any political subdivision of any such state or any public instrumentality thereof maturing within ninety (90) days after the date of acquisition thereof and, at the time of acquisition, having one of the two highest ratings obtainable from any two of S&P, Moody’s or Fitch (or, if at any time no two of the foregoing shall be rating such obligations, then from such other nationally recognized rating services as are reasonably acceptable to Administrative Agent); (d) domestic corporate bonds, other than domestic corporate bonds issued by Borrower or any of its Affiliates, maturing no more than two (2) years after the date of acquisition thereof and, at the time of acquisition, having a rating of at least A or the equivalent from any two (2) of S&P, Moody’s or Fitch (or, if at any time no two of the foregoing shall be rating such obligations, then from such other nationally recognized rating services as are reasonably acceptable to Administrative Agent); (e) variable-rate domestic corporate notes or medium term corporate notes, other than notes issued by Borrower or any of its Affiliates, maturing or resetting no more than one (1) year after the date of acquisition thereof and having a rating of at least A or the equivalent from two of S&P, Moody’s or Fitch (or, if at any time no two of the foregoing shall be rating such obligations, then from such other nationally recognized rating services as are reasonably acceptable to Administrative Agent); (f) commercial paper (foreign and domestic) or master notes, other than commercial paper or master notes issued by Borrower or any of its Affiliates, and, at the time of acquisition, having a long-term rating of at least A or the equivalent from S&P, Moody’s or Fitch and having a short-term rating of at least A-2 and P-2 from S&P and Moody’s, respectively (or, if at any time neither S&P nor Moody’s shall be rating such obligations, then the highest rating from such other nationally recognized rating services as are reasonably acceptable to Administrative Agent); (g) domestic and foreign certificates of deposit or domestic time deposits or foreign deposits or bankers’ acceptances (foreign or domestic) in Dollars, Hong Kong Dollars, Singapore Dollars, Pounds Sterling, Euros or Yen that are issued by a bank (I) which has, at the time of acquisition, a long-term rating of at least A or the equivalent from S&P, Moody’s or Fitch (or, if at any time no two of the foregoing shall be rating such obligations, then from such other nationally recognized rating services as are reasonably acceptable to Administrative Agent) and (II) if a domestic bank, which is a member of the Federal Deposit Insurance Corporation; (h) overnight securities repurchase agreements, or reverse repurchase agreements secured by any of the foregoing types of securities or debt instruments, provided that the collateral supporting such repurchase agreements shall have a value not less than 101% of the principal amount of the repurchase agreement plus accrued interest; and (i) money market funds invested in investments substantially all of which consist of the items described in clauses (a) through (h) above.