PTO Leave Sell-Back Election Period & Traditional Leave Conversion to PTO

From Nov. 1 – 22, 2013, UNC Health Care will offer a Paid Time Off (PTO) sell-back election period with a payout on Dec. 18, 2013.

To be eligible for the sell-back options, employees must have at least 148 hours of PTO available. Employees are eligible to automatically receive a sell-back based on their election of 25, 50, 75 or 100 percent of all hours over 140 with a minimum of eight hours required for distribution.

An employee electing to sell back hours during the sell-back period will receive 90 percent of the base rate cash value of requested PTO sell-back hours at the time of distribution. A 10-percent forfeiture of cash value is necessary to make this plan compatible with IRS regulations regarding taxability.

Click here for full details.

Click here to access the PTO Sell Back form.

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