Vacation cash-out
A pole. Recently taken over by another company 10 months ago. Fun surprises keep revealing themselves. Just now discover can only roll over 40 hours vacation to next year. This would have been nice to know sooner rather than later. They will allow cash-out but not at 100%. They have not told us the %. I have never worked for a company that did not cash-out at 100%. How common is this?
Hi Emily, Federal law does not require a company to offer vacation time. It's a benefit the company chooses to give to its employees.
That said, if a company offers vacation time, states have their own laws that govern how unused and accrued vacation time is paid out. You'll need to consult state law to figure out what that means depending on where you work. (And you may live in a state that doesn't require a payout at all.)
The 'new' company would have been well-served to communicate the policy clearly to its employees - that's always true - and I'm sorry you're feeling frustrated. (I've actually never worked for a company that would allow a 100% cash-out... I can imagine you feel a bit duped.)
Lastly, please be careful when avoiding vacation. I know, the money's awesome... what isn't awesome is getting burned out & stressed.
Take care of yourself, ok? Best, Marijoy
Hi Emily, I think every company has their own set of rules. I know there are a lot that don't even allow vacation rollover, so you need to make sure you use it all within the calendar year. I'm not sure about the 100% cashout, maybe other people have more experience with this.
-Mark
"pole"?