Selling Back PTO
mpyrtle
2 Posts
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.
Comments
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.