Annual Leave Conversion Sample Clauses
The Annual Leave Conversion clause allows employees to convert a portion of their accrued annual leave into another form of benefit, such as cash or additional superannuation contributions. Typically, this process is subject to certain conditions, such as a minimum balance of leave remaining after conversion or a cap on the amount that can be converted each year. The core function of this clause is to provide employees with flexibility in how they utilize their leave entitlements, addressing situations where employees may prefer financial compensation or other benefits over taking time off.
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Annual Leave Conversion. Once in each payroll year, an employee may convert unused annual leave as a contribution to the Employer’s deferred compensation plan. Conversions must not cause an employee’s balance to go below 80 hours at the time of actual conversion. Requests for conversions must be submitted in writing on forms as designated by the Employer. Contributions to deferred compensation made under this provision are subject to all rules and regulations of the deferred compensation plans.
Annual Leave Conversion. Subject to the approval of the Chief Constable in each instance, once each calendar year a member may request to convert to cash five (5) days (40 hours) of annual and/or public holiday leave.
Annual Leave Conversion. 1. During the meet and confer between City and Local 145 for Fiscal Year 2009, the Parties met and conferred in good faith and reached a tentative agreement on April 11, 2008. During this meet and confer, the Parties did not discuss any changes to the below section of the Operating Procedures. It provided as follows: Employees in the Bargaining Unit will no longer be eligible to exercise any cash out feature of annual leave accrued from July 1, 2002 prospectively. Since employees cannot cash out post- July 1, 2002 annual leave, employees who have balances of post- July 1, 2002 annual leave at the end of their DROP period, will be permitted to extend the DROP period beyond the five-year maximum by that amount of post-July 1, 2002 annual leave not converted to service credit prior to entering DROP. Specific procedures for implementing this benefit will be subject to IRS rules, as interpreted by the City Attorney’s Office.
2. On April 21, 2008, the City Council approved the tentative agreement for Fiscal Year 2009 subject to the final MOU returning to the City Council for ratification on a future date. On April 1, 2008, the City Council passed an ordinance amending the Municipal Code to require a lump sum payment for the purchase of San Diego City Employees Retirement System service credit and prohibiting the practice of purchasing service credit with annual leave. SDCERS has not allowed any member to purchase service credit with annual leave since April 1, 2009.
Annual Leave Conversion. 1. Employees may request to convert a minimum of 8 hours and a maximum of 200 hours of their accumulated annual leave hours to salary compensation twice per calendar year. The total number of hours converted per calendar year shall not exceed 200. Employees may not convert accumulated annual leave below a balance of 40 hours.
2. Conversion requests shall be submitted on City forms to Payroll. The deadlines for conversion requests are as follows: 2nd Friday in May 1st payday in June 2nd Friday in November 1st payday in December
Annual Leave Conversion. During the meet and confer between the City and Local 145 for FY09, the parties met and conferred in good faith and reached a tentative agreement on April 11, 2008. During this meet and confer, the parties did not discuss any changes to the below section of the Operating Procedures. It provided as follows: Effective July 1, 2002, employees in the bargaining unit who have not yet entered DROP will be allowed to convert annual leave cash equivalent to retirement service credit on a pre-tax basis. The amount of service credited will be the employer and employee cost of that service credit as determined by the Retirement Board. Employees in the bargaining unit will no longer be eligible to exercise any cash out feature of annual leave accrued from July 1, 2002 prospectively. Since employees cannot cash out post-July 1, 2002 annual leave, employees who have balances of post- July 1, 2002 annual leave at the end of their DROP period, will be permitted to extend the DROP period beyond the five year maximum by that amount of post-July 1, 2002 annual leave not converted to service credit prior to entering DROP. Specific procedures for implementing this benefit will be subject to Internal Revenue Service (I.R.S.) rules, as interpreted by the City Attorney’s Office. On April 21, 2008, the City Council approved the tentative agreement for FY09 subject to the final MOU returning to the City Council for ratification on a future date. On April 1, 2008, the City Council passed an ordinance amending the Municipal Code to require a lump sum payment for the purchase of San Diego City Employees Retirement System service credit and prohibiting the practice of purchasing service credit with annual leave. The City has not allowed any member to purchase service credit with annual leave since April 1, 2009.
Annual Leave Conversion. Once per fiscal year, an employee may elect to cash out annual leave in the amount of forty (40) hours. The employee must have a minimum of one hundred sixty (160) hours to utilize this benefit. This benefit does not relieve the employee from taking the required normal vacation.
Annual Leave Conversion. 28.3.1 A period of annual leave is exclusive of periods that an employee is entitled to leave in accordance with:
(i) Clauses 29 – Personal Leave;
(ii) Clause 30 – Compassionate Leave;
(iii) Clause 33 – Long Service Leave;
(iv) Clause 34 – Public Holidays;
(v) Clause 32 – Community Service Leave;
28.3.2 Where an employee seeks to convert their annual leave in accordance with clause 28.5.1, the employee must immediately return any annual leave travel pass covering the period of leave which is sought to be converted.
Annual Leave Conversion. During the meet and confer between the City and Local 145 for FY09, the parties met and conferred in good faith and reached a tentative agreement on April 11, 2008. During this meet and confer, the parties did not discuss any changes to the below section of the Operating Procedures. It provided as follows: On April 24, 2008, the City Council approved the tentative agreement for FY09 subject to the final MOU returning to the City Council for ratification on a future date. On April 28, 2008, the City Council passed an ordinance amending the Municipal Code to require a lump sum payment for the purchase of San Diego City Employees Retirement System service credit and prohibiting the practice of purchasing service credit with annual leave. The City has not allowed any member to purchase service credit with annual leave since April 11, 2009.
Annual Leave Conversion. Anytime during each calendar year of this Agreement, an employee may declare their intent to defer annual leave time to a deferred compensation account to the maximum allowed by law. Conversions must not cause an employee’s balance to go below two hundred (200) hours at the time of actual conversion. Requests for conversions must be submitted in writing. Contributions to deferred compensation accounts made under this provision are subject to all rules and regulations of the deferred compensation plans. Employees currently with caps in excess of one thousand forty (1,040) hours will reduce their caps by the number of hours used or deferred only if they exercise their option under this Section until such time as those amounts are reduced to one thousand forty (1,040) hours. Employees with caps in excess of one thousand forty (1,040) hours who do not choose to defer leave into a deferred compensation account as per this Section will be allowed to maintain their caps at their current levels.
Annual Leave Conversion. Any employee moving from a ten (10) month or eleven (11) month position to a full twelve (12) month position will be eligible for the number of annual leave days stated in C-1 above based on the following conversion formula: Total Months Service in District/12 = Years Credited