7.3.2.4
PTO Cash Out
After one year of service, employees are eligible to cash out their PTO. PTO balances in excess of 60 hours may be cashed out.
Requestor
- A PTO Cash Out form should be completed by the employee and submitted to their manager for approval
- Fill in the Name, Current PTO Balance, PTO Cash Out Requested, Employee Signature, and Date
- Your PTO balance can be found on Employee Self Service>Time-Off Request>Hours Available>Net Available
- Please request PTO Cash Out in whole hour increments only
- Submit the completed PTO Cash Out form to your manager
Manager
- Verify the employee PTO Cash Out request amount follows the Personnel Policies & Procedures
- Sign and date the PTO Cash Out request and forward it to the Accounting Specialist no later than Friday before the pay period ends for entry into the next pay cycle
Reduced Schedule PTO Cash Out
Employees with a reduction to their schedule for more than one pay period will have the option of maintaining their current paid time off. An employee’s request to maintain their accrued PTO balance must be made in writing using the Reduced Schedule PTO Cash Out Declination form.
Note: If the declination form is not signed, the entire PTO balance will be paid out on the final check prior to the reduced schedule
Process
- HR will notify employees of this option in the reduction of schedule letter
- Employees are required to respond via email to the Human Resources Manager if they opt to cash out their entire balance using the Reduced Schedule PTO Cash Out Declination form. This response will have a deadline as noted within the reduction of schedule letter
- This email is forwarded to the Accounting Specialist for processing in the final pay period prior to your reduced schedule