Selling Back PTO

mpyrtle

I'm getting ready to start putting together a policy that would allow eligible employees to sell PTO back to the organization. If anyone else has a prototype, I'd sure like to see it.

NaeNae55

:welcome:

PTO Buy Back

If an employee has over 160 hours in his/her PTO bank, he/she may buy back a portion of their PTO hours. The hours bought back will be paid at 50% of their current hourly rate of pay. Buy backs must be in full hourly increments for no fewer than 8 hours; at least 80 hours must be kept in the bank. The payment will be processed in the next regular paycheck for requests received in the payroll office by the Friday before payday.

ACU Frank

We don't have PTO, but we allow sicktime buy-back at 50% one time a year (Payroll 01). We [I]allow[/I] you to sell back anything in excess of 160 hours... you are [I]required[/I] to sell back anything over 320 hours.

mpyrtle

Thanks! I appreciate the input.