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PTO accrual system
Benefits & Compensation
PTO accrual system
Exchange ideas about health plans, retirement, work/life benefits, and employee assistance.
I would like input from anyone regarding transition to PTO system. I have figured up hourly accrual rates for employees, but my dilemna is; do I place all of their time for the year in their time bank
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Forums » Topic Forums » Benefits & Compensation » PTO accrual system
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PTO accrual system
posted at 6/17/2000 3:30 AM EDT
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Posts: 1
First: 6/17/2000 Last: 6/17/2000 |
I would like input from anyone regarding transition to PTO system. I have figured up hourly accrual rates for employees, but my dilemna is; do I place all of their time for the year in their time bank before it is actually earned; we are then "advancing" them two weeks time. Of they were to terminate, how do we recoup this loss? |
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PTO accrual system
posted at 6/20/2000 9:52 AM EDT
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Posts: 51
First: 2/18/2000 Last: 7/7/2004 |
The best way would be to accrue the time on a weekly basis. They use what they accrue. Many HR software options allow you to do this. I would be a little concerned about giving them the time upfront. It was almost like a saving account at my old company employees could not wait to use it and when they really needed the time off - they were out and faced the consequences. |
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PTO accrual system
posted at 6/22/2000 1:13 AM EDT
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Posts: 399
First: 6/21/1999 Last: 9/14/2005 |
We accrue time on a monthly basis. We allow them to take time before it's used, in case they want to go skiing for a week in January when they would have only 1.42 days available. However, if they terminate, and have taken more time than they have accrued, they have to pay it back. (Yes, I know all states don't allow this. Ours does.) On the flip side, we do pay out accrued unused time. |
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PTO accrual system
posted at 6/26/2000 4:31 AM EDT
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Posts: 399
First: 6/21/1999 Last: 9/14/2005 |
We either deduct from final check or have the employee give us a check, whichever they prefer. It really doesn't happen terribly often - I've been here almost a year and I think it's only been twice that they had to return vacation pay. I'm in Massachusetts: I would check with the DOL for Ohio. My state-by-state source, though, does not show anything for Ohio that would forbid your doing likewise. |
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