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Buy a Week of Vacation
Benefits & Compensation
Buy a Week of Vacation
Exchange ideas about health plans, retirement, work/life benefits, and employee assistance.
Has anyone implemented and had success with employees buying a week of vacation at the beginnig of the year. They are giving 2 weeks with the option to buy another week which can be deducted from the
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Buy a Week of Vacation

posted at 10/3/2000 5:47 AM EDT
Posts: 3
First: 8/25/1999
Last: 10/3/2000
Has anyone implemented and had success with employees buying a week of vacation at the beginnig of the year.
They are giving 2 weeks with the option to buy another week which can be deducted from their salary? Can we do that.
Please can you tell me the steps and also rollover implications, if any.
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Buy a Week of Vacation

posted at 10/17/2000 6:19 AM EDT
Posts: 23
First: 6/17/1999
Last: 4/3/2001
If you allow vacation buying, you must comply with IRS 125 which deems that the election to buy needs to be made in advance of the plan year; non-elective days must be used before elective (purchased) days; and any time purchased needs to be used, cashed-out or forfeited before the end of the plan year. Only the non-elective days can be rolled over, however if they must be used before the elective days then it's a double-edged sword!
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Forums » Topic Forums » Benefits & Compensation » Buy a Week of Vacation

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