Sell Back. In lieu of taking a banked Statutory Holiday, an employee shall be entitled to a payment equal to the amount defined in the preamble of this letter. Such payment shall be paid on the next appropriate pay day. On the day following the end of pay period #6 of each year, any remaining banked Statutory Holidays accumulated during the previous payroll year will be deemed to have been sold back. This paragraph does not apply to the employees in Kemano. Crew employees will be permitted to have their banked statutory holidays carried forward to enable them to schedule complete shift rotations off as per Kemano Letter of Understanding dated 21 July 2000. Where Statutory Holidays are deemed to have been sold back, the employee shall be entitled, on their next regular pay day, to a payment calculated in accordance with the preamble of this letter.
Sell Back. Once each fiscal year, an employee may request to sell back to the City up to 40 hours of accrued vacation time provided that the employee has taken or is scheduled to take at least 40 hours of vacation during the fiscal year and there is at least 80 hours of vacation remaining after the sellback. This option shall be available only once each fiscal year. Employees choosing to exercise this option must advise the City, in writing, through their department manager. The City shall distribute the funds within 30 days of the request.
Sell Back. Members are eligible to sell back vacation under the same City policy, procedures, and conditions that apply to other City employees.
Sell Back. An employee is eligible to “sell back” accrued leave in excess of 280 hours prior to his/her service date if the eligibility criteria outlined in paragraph (H) has been met.
Sell Back. An employee may "sell back" for cash payment up to forty (40) hours of accrued compensatory time off per fiscal year. The employee may sell back twice per fiscal year, only in December and June, and must submit a request to Administration/Payroll by the 1st working day of the month or per Payroll instructions Article 10 – Seniority and Probationary Period
Sell Back. Any employee may sell back to the City up to fifty (50) hours of accrued vacation time during any fiscal year, limited to the following conditions:
Sell Back. After the last full pay period ending in May and November, employees may elect to receive payment for PTO hours earned but not used. Full time employees may sell back up to forty (40) hours of PTO in eight (8), ten (10), or twelve (12) hour increments provided they maintain seventy-two (72) hours in their bank at the time of the sell back. Part-time and limited part-time employees may sell back up to twenty-four (24) hours in eight (8), ten (10), or twelve (12) hour increments provided they maintain thirty-six (36) hours in their bank. Payment will be made at the employee’s base rate of pay. Sell back requests must be done in employee self service during the prescribed timeline. Sell back is voluntary and the decision to do so is final. Employees with fifteen (15) years or more of service who accrue more than their maximum allowable amount of PTO time by December 15 may elect to sell back up to forty (40) hours of additional PTO at the employee’s base rate of pay.
Sell Back. (a) An employee in Leave Plan E who does not use all of the Personal Leave accrued in a fiscal year may elect to be paid the difference, on a percentage basis, between the amount accrued and the amount used for that fiscal year on an hour-for-hour basis.
Sell Back. Employees who use forty (40) hours may be eligible to sell back up to forty (40) PTO hours annually. To be eligible to sell back PTO hours the employee must have used at least forty (40) hours of vacation time during the same calendar year as the sellback. To receive compensation in lieu of time off, the employee must submit a completed Request to Sell PTO form to the Payroll Department on or before December 31st in the year previous to the sell back year. This election is irrevocable. For example, an employee who uses forty (40) hours of PTO in 2019, may sell back forty (40) hours in 2019, if they have submitted their election form to the Payroll Department by December 31st, 2018.
Sell Back. Employees electing to “sell back” (cash out) Reserve Bank hours must submit an irrevocable election by December 31st of the calendar year immediately preceding the calendar year in which the Reserve Bank hours will be cashed out. Employees may elect payment of Reserve hours, on June 1st and/or December 1st of each year. If the employee elects to cash out their hours but due to a need to use those hours prior to the date of cash out, causing a shortfall, the initial request is reduced to the number of hours available. A balance of at least forty (40) hours must be left in the Reserve Bank when selling back. Payment is made according to the following Schedule: Hours of Recognized Service Payment Percentage 0 – 4,160 -0- 4160 to 10,400 25% 10,400 to 16,640 40% 16,640 to 22,880 60% 22,880 to 29,120 80% More than 29,120 100% Section 14.13 Benefit Eligible employees will receive a one-time bonus of PTO hours added to their PTO Bank (or Reserve Bank if the PTO Bank is at maximum accumulation) based upon the following schedule. 31,200 Hours of Recognized Service 40 Hours 41,600 Hours of Recognized Service 40 hours 52,000 Hours of Recognized Service 40 hours 62,400 Hours of Recognized Service 40 hours Employees hired before October 10, 2014, who convert from the sick leave plan and vacation plan to the PTO plan on or before December 29, 2014 shall, if eligible, at the time of conversion, receive up to forty
