Vacation Cash Out
The Company offers the option of a vacation cash out for eligible employees.
Under this program, eligible employees may cash out in eight (8) hour increments, a minimum of sixteen (16) hours and up to a maximum of eighty (80) hours of accrued vacation. The vacation cash out opportunity occurs once a year in the month of November.
Eligibility: To qualify for the vacation cash out option, employee must meet all the below requirements:
- Used a minimum of forty (40) hours of vacation in the preceding 12 months prior to the cash-out as defined annually by human resources during the election period.
- Accrued hours in calendar year of cash-out of not less than 16 hours.
- Have a remaining vacation balance of not less than forty (40) hours after the cash-out.
Employees are accountable and responsible for managing their own vacation hours to allow for adequate vacation reserve. Employees should be aware that payments received as a result of a vacation cash out are considered supplemental wages and are subject to taxation accordingly.
Please refer to the Employee Handbook for more information.
During the Vacation Cash out period, an email communication will be sent to eligible employees with instructions on requesting this through Workday.