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Post by meowgal on Oct 3, 2014 18:49:57 GMT
I'm a bit irritated in that when discussing vacation time, etc with my supervisor, he said that we are unclassified (two different types of employees) and on the first day of the fiscal year, we have a deposit of x weeks. He went on to tell me that if we resign on July 2, we get those x weeks paid to us. I told him that didn't make sense, but he said it was the "only benefit" we get as unclassified employees! Well, turns out HE WAS WRONG! I resigned 3.5 months into our fiscal year and haven't taken any of my vacation, so am getting just over 25% of my "deposited" vacation time (I got 4 weeks a year). grrrr. I was really looking forward to that big check.  I guess I'm lucky I didn't use it up, or MORE than the prorated amount! |
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quiltz
Drama Llama
Posts: 7,086
Location: CANADA
Jun 29, 2014 16:13:28 GMT
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Post by quiltz on Oct 3, 2014 18:58:25 GMT
3.5 months into the current fiscal year = 1/4 of the new fiscal year would = 25% of vacation time.
They probably pro-rate the vacation time by each quarter of the fiscal year. So if July 1st is your fiscal year start and you resign in Oct, that would be one fiscal quarter, and that this amount of vacation time/money would seem appropriate. This is the format that most companies use to determine the payout of unused vacation time.
One rule that I live by is that until the money is in my hand, I do not consider it mine.
Currently I have a dispute with the CRA (like IRS, only Canadian). There has been a back and forth for almost a year. It is a considerable amount of money that we is at stake.
Edited to add: Your supervisor made an error. He probably meant to say that if you resigned on June 29th, that you would get the full amount and not July 2nd.
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Post by meowgal on Oct 3, 2014 19:01:26 GMT
Luckily it isn't going to break me. BUT, I asked HR "what if someone uses more than the prorated amount" and she said, "They wouldn't get a payout"....and don't have to pay it back? This seems totally wrong. I should have taken all four weeks!
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Post by bigbundt on Oct 3, 2014 23:01:11 GMT
You should look to your employee handbook and see if they have a policy about vacation pay out. If there is no policy, check your state's labor laws. Earned and available vacation are considered wages in a lot of states. So you also need to know how you earn or accrue your vacation. Is is lump sum available to you at the beginning of the fiscal year? Is it awarded each quarter? So many hours are earned each payperiod?
And sometimes HR can add the vacation time to an employee's W4 as income if they use it all up before they earn it (just like they could if someone uses up all of their FSA money and quits before making all of her contributions). Unless they have an airtight record keeping system, most companies just write that off because it is just a PITA to keep track of.
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Post by mrgiedrnkr on Oct 3, 2014 23:38:09 GMT
I learned that policy when I was on maternity leave. Since I didn't work a day in June, I didn't accrue PTO for that month and lost 2.5 days. I have been at the same company for 22 years and had never heard of that. However, it was the first year we went to an automated time tracking system. Prior to that, we had been on a manager-tracked system. stacy |
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I guess I'm lucky I didn't use it up, or MORE than the prorated amount!
