This document covers:
- Holidays
- Paid Time Off (PTO)
- Eligibility for PTO
- Accrual of PTO
- Carry-over of PTO
- Use of PTO
- Negative PTO balance
- PTO reimbursement upon leaving
- Comp time
Holidays
A list of holidays will be published each year. If the office is closed for a holiday then all full-time staff will still be paid for a normal work day at regular pay. Part-time employees that are eligible for and have earned PTO can elect to be paid for the holiday as a normal work day.
Maintenance staff is valuable to keeping residents content and wanting to stay long term. To keep our tenants happy, maintenance staff is expected to be available “on call” for priority maintenance requests during this time. Please note, overtime will not paid in this situation, as you are already being paid for the day.
Paid Time Off (PTO)
Eligibility for PTO
- Employees that have been with the company for at least 6 months and are regularly scheduled to work 20 hours or more each week are also eligible to accrue and use paid time off.
- Part-time employees accrue PTO at half of the rate of an equivalent full-time employee.
- Temporary employees – whether full-time or part-time – are not eligible for paid time off.
All eligible employees (see below) accrue vacation time at the rate agreed upon during their hiring and/or performance review.
Accrual of PTO
- Paid time off for full-time employees is earned starting immediately after start of employment.
- Paid time off for part-time employees is earned after completing the first 6 months of employment.
Carry-over of PTO
- All employees are allowed to carry over up to 5 days (40 hours) of PTO from one calendar year to the next.
- Any PTO balance in excess of 40 hours remaining as of December 31 of the calendar year will be forfeited.
Use of PTO
Any time off requests should first be approved by your manager. It is important to work with your manager to ensure adequate coverage during your time off.
For any customer-facing positions, working remotely or working from home is not permitted. You need to be there for the customer. Therefore if a personal situation arises that you have to take care of and you are unable to make it into work, then you must take the day as PTO.
For full-time employees, “full time” is defined as at least 80 hours per two-week pay period. If a full-time employee works less than 80 hours in a pay cycle then the extra hours required to make them up to 80 will be taken from their PTO balance. Optionally, hourly employees may elect not to use up vacation time for this (and instead get paid only for the hours worked). If this is the case then please let your manager know before the end of the pay period.
Note that any Paid Time Off will be paid at the employee’s regular rate. Overtime rates will only be paid if the hours actually worked (i.e. excluding any holidays or other PTO) exceed 80 hours in a pay cycle.
Negative PTO balance
If a full-time employee has a negative PTO, the employee will be considered part time and no longer eligible for full time benefits until re-instated by management request. Additionally any employee having a negative PTO balance will be ineligible for any and all bonuses until they accrue enough PTO to make their balance positive again at which time they will again be eligible for bonuses. Any bonus payouts “missed” during the time the employee PTO balance is negative will not be paid retroactively.
PTO reimbursement upon leaving the company
- Employees must work for the company for one full calendar year before becoming eligible to be reimbursed for PTO, and then only if their position is eliminated.
- An employee terminated involuntarily due to inadequate performance does not qualify for PTO reimbursement.
- Any employee that leaves the company voluntarily is not eligible to be compensated for earned PTO.
Comp Time
Since the only way we can track “comp” time is within a single pay cycle, then employees should plan to use this up within the same pay cycle. In other words, “comp time” cannot be carried forward to a later pay period.
For all questions regarding PTO please contact an Paychex HR representative.