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Transfering Leave

maryfmurraymaryfmurray 75 Posts
in Benefits & Leave Vote Up0Vote Down
[font size="1" color="#FF0000"]LAST EDITED ON 08-08-03 AT 03:24PM (CST)[/font][p]For some employees of our organization have an overabundance of leave. A question was posed to me of transferring some of the vacation time into their retirement account? Has anyone done this before? I have not been able to find information on this type of question.

Thank you for your help once again.


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  • Hunter1Hunter1 808 Posts
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    Just read a small blurb about the IRS issuing a private letter ruling (LTR 200247050, 8-26-02) concerning the actual or constructive receipt of income for a sick leave exchange program in which employees made contributions to the employer's qualified defined contribution plan in exchange for sick leave. IRS determined they are not includable in the employees' gross wages. Of course private letter rulings are specific to the circumstances, but this might give you a place to start.
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