Vacation Cash out. Vacation may be cashed-out up to fifty (50) hours of vacation annually if at least eighty (80) hours of vacation/compensatory time has been used in the previous twelve
Vacation Cash. Out Employees with more than forty (40) hours of earned but unused vacation time may request, in writing, not more than one time per fiscal year, to cash out any earned but unused vacation in excess of forty (40) hours, not to exceed a maximum request of eighty (80) hours to be cashed out. The Employer may, in its sole discretion, grant or deny such a request based upon the availability of funds. If approved, the payout will occur as soon as possible, but no later than the normal paycheck for the pay period immediately following the pay period in which date of the approval occurs.
Vacation Cash out Once each fiscal year, an employee who is accruing 6.157 hours or more of vacation per pay period and who has utilized 80 hours of vacation in the previous twenty-six (26) pay periods may cash-out up to forty (40) hours of vacation provided that the employee is left with an accrued balance of at least forty (40) hours.
Vacation Cash. Out Each employee has the option to cash out up to 48 hours of accrued vacation leave on two occasions each calendar year (on or about July 1 and the last paycheck in December). In order to exercise this option, with respect to the July cash-out, an employee must, prior to the end of the preceding calendar year, designate the number of hours up to the applicable maximum number of hours that he/she would like to cash out effective on or about July 1st. If the employee fails to make a designation, he/she will not be allowed to cash out any hours at that time. In order to exercise this option, with respect to the end of December cash-out, an employee must, prior to the end of the preceding calendar year, designate the number of hours up to the applicable maximum number of hours that he/she would like to cash out effective the last paycheck in December. If the employee fails to make a designation, he/she will not be allowed to cash out any hours at that time. Once an employee has elected to participate in the Vacation Cash-Out Program, the total number of hours designated for cash-out will be automatically processed and paid. If an employee has a lower balance of vacation leave than elected vacation hours, only available vacation hours at the time of cash-out will be processed.
Vacation Cash. Out Effective July 1, 2015, members are eligible to cash-out eighty (80) hours of vacation per calendar year. Vacation cash-out shall be administered in accordance with procedures set forth by the Finance and Administrative Services Department. For those employees electing to cash-out, the employee must have a minimum balance of eighty (80) hours accrued, after cashing out balances, as of yearly date in December specified by Payroll and have taken a minimum of eighty (80) hours of vacation in the prior twelve (12) months (prorated for regular part-time employees). Effective July 1, 2000, members will have the option of receiving cash or depositing vacation cash-out directly into deferred compensation, in compliance with IRS regulations.
Vacation Cash. Out Effective the first full pay period following City Council adoption of the resolution to amend the MOU, employees are eligible to file an irrevocable election, in December of each year, to cash-out up to eighty (80) hours of vacation accrued in the payroll calendar year following the cash-out election. For those employees electing to cash-out over forty (40) hours of vacation, the employee must have a minimum balance of eighty (80) hours of accrued vacation, as of the last full pay period in the payroll calendar year of the cash-out election, and must have taken a minimum of forty
Vacation Cash. Out 20 Based on their annual accrual, members may elect to “cash-out” 21 up to forty (40) hours of unused, accrued vacation to be paid in the form 22 of salary at the unit member’s regular rate of pay. Requests for salary in 23 lieu of unused, accrued vacation shall be submitted by the member to 24 the Payroll Department no earlier than June 1 and no later than June 30. 26 Upon resignation, termination or retirement, all remaining vacation 27 hours shall be paid at the Member’s current rate of pay, including any 28 and all incentives.
Vacation Cash. Out: Effective July 1, 2014, employees will be paid out at the end of each school year for any accrued vacation in excess of one hundred and ninety two (192) hours. However, the cash payout for vacation will be limited to forty (40) hours in a single year. Vacation balances will be determined on March 1st each year. This payment will be automatically made no later than June 30th each year.
Vacation Cash. IN – Employees may cash in up to 50% of their vacation each calendar year in full day increments only (rounded up) provided that they elect to cash in these days prior to the second pay date in December.
