Common use of Vacation Buyback Clause in Contracts

Vacation Buyback. An employee who has fourteen (14) years of seniority (ten (10) or more years of seniority beginning in 2019) at the beginning of the calendar year, may request to receive forty (40) hours pay in December of the pay year. Said pay is in lieu of forty (40) hours vacation time and is subject to all applicable taxes. Employees who participate in the County’s section 457 Deferred Compensation Plan may elect to contribute part or all of the payment in lieu of vacation to their deferred compensation accounts on a pre-tax basis, up to the established maximums. Employees wishing to defer payment should complete Sections I and IV of the Deferred Compensation Plan Participation Agreement, available on the Kent County Intranet, and return the form to Human Resources.

Vacation Buyback. An employee who has fourteen (14) years of seniority (ten (10) 10 or more years of seniority beginning in 2019) service at the beginning of the calendar year, ) may request to receive forty (40) hours pay in December of the pay yearyear by timely return of the Human Resources Department notice form. Said pay is in lieu of forty (40) hours vacation time and is subject to all applicable taxes. Employees who participate in the County’s section 457 Deferred Compensation Plan may elect to contribute part or all of the payment in lieu of vacation to their deferred compensation accounts on a pre-tax basis, up to the established maximums. Employees wishing to defer payment should complete Sections I and IV of the Deferred Compensation Plan Participation Agreement, available on the Kent County IntranetInternet, and return the form to Human Resources.