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35 <br /> <br />E. Computation of Vacation. <br /> <br />1. If a holiday listed in Article 9 occurs during an employee’s vacation, <br />vacation hours will not be deducted. For employees who choose to earn <br />holiday in lieu pay, they are already being paid for the holiday. If an <br />employee qualifies for sick leave while on vacation, the time will be <br />deducted from sick leave, not vacation. <br /> <br />2. With the exception of military leave, an employee who has a break in <br />service of one year or less will continue to accrue vacation per Section <br />10.2A. If an employee has a break in service of one year or more, they shall <br />be considered a first year employee for purposes of accruing vacation. <br /> <br />F. Vacation Buy-Back. Effective for calendar year 2023 and every year thereafter: <br />By December 15 (the first year being 2022) of each year, employees may make an <br />irrevocable election to cash out up to sixty (60) hours (120 hours if they used 80 <br />hours in the calendar year they are making the election) of vacation which they can <br />accrue per year which will be earned in the following calendar year at the <br />employee’s base rate of pay. In the following year, the employee can receive the <br />cash for the vacation they irrevocably elected to cash out in either two (2) separate <br />increments of up to thirty (30) (60 if they if they used 80 hours in the calendar year <br />they are making the election) hours or one (1) increment of up sixty (60) hours (120 <br />if they if they used 80 hours in the calendar year they are making the election) they <br />can accrue in a year. <br /> <br />The employee would be paid one half of what they irrevocably elect to cash out <br />hours on both the second pay day in July and the first pay day in December or the <br />employee can elect to be paid sixty (60) hours (120 if they if they used 80 hours in <br />the calendar year they are making the election) on the first pay day in December. <br />However, if the employee’s vacation balance is less than the amount the employee <br />elected to cash out (in the prior calendar year) the employee will receive cash for <br />the amount of vacation the employee has accrued at the time of the cash out. <br /> <br />If an employee makes an irrevocable election to cash out vacation in the following <br />calendar year and uses vacation in that subsequent year, the vacation used will come <br />from vacation the employee had earned prior to January 1 of the year the employee <br />has elected to cash out vacation. This is to ensure that assuming an employee had <br />a vacation balance prior to January 1, the vacation used will not result in a reduction <br />in the amount of vacation the employee will be eligible to cash out. <br /> <br />10.3 Limitation on Vacation. <br /> <br />With the exception of a retiring employee, no employee is granted, and no <br />employee shall be allowed to take, any vacation leave with pay in excess of 400 <br />hours in any one year. <br />