What is the PAL/PTO Cash-In Opportunity?
The PAL/PTO Cash-In Opportunity is offered to hourly staff who would like to cash in a certain amount of accrued Paid Annual Leave (PAL) or Paid Time Off (PTO).
When will the PAL/PTO Cash-In Opportunity Be Offered?
We have decided to offer the PAL or PTO Cash-In Opportunity two times in the current fiscal year (FY15). We will offer the Cash-In Opportunity in November 2014 and again in April 2015. The program will be evaluated for continuation after April 2015.
Who is eligible for the PAL/PTO Cash-In Opportunity?
Benefit-Eligible hourly staff are eligible to participate in the Cash-In Opportunity.
What are the Cash-In Opportunity Rules and Procedures?
- Benefit-eligible hourly employees may cash in up to 40 hours of accrued PAL or PTO during the opportunity period.
- As the result of the cash-in, an employee’s accrued PAL or PTO will not be permitted to drop below 80 hours.
- Employees must follow the announced procedures during the cash in period; no off-cycle cash-ins will be permitted.
- Cash-ins are calculated according to the employee’s regular base hourly rate and do not include any differentials of other amounts.
- All cash-ins will be subject to normal deductions and taxes.
Cash-In Opportunity Time Line: (Dates will coincide with published payroll cycle.)
|First Cash-In Offering||Second Cash-In Offering|
|Cash-In Opportunity Announced||September 22, 2014||March 2, 2015|
|Cash-In Opportunity Requests Submitted||October 1 – October 18, 2014||March 2 – March 18, 2015|
|Cash-In Opportunity Closed||October 18, 2014||March 18, 2015|
|Cash-In Appears in Paycheck||November 21, 2014||April 24, 2015|
Talk with your HR Business Partner or with your supervisor.