On Monday, November 30, we announced a one-time PTO cash out that allows eligible employees to receive payout of PTO hours that have accrued up to a defined maximum.
The deadline to submit applications for this one-time cash out is Friday, December 11. To apply, employees may submit a PTO Cash Out Form through myHR. Eligible hours will be paid as a separate direct deposit with the December 17 paycheck.
To be eligible for PTO cash out employees must have at least 160 hours of available PTO. Employees may cash out up to a maximum of 160 hours of PTO, and upon cash out, the employee’s remaining PTO balance must be at least 80 hours.
Guidelines for processing of PTO cash out payments
In accordance with IRS guidelines regarding constructive receipt, eligible employees will receive 99% of the value of PTO hours. The remaining 1% will be processed as a donation to the PTO donation bank.
Thank you for your continued commitment to excellence and for supporting one another as we serve our community during this challenging time.