Common use of Compensatory Time Bank Clause in Contracts

Compensatory Time Bank. ‌ Employees may place overtime hours into the compensatory time bank within the limits stated below in lieu of pay for such hours. For each hour of overtime an employee may place one and one-half (1½) or two (2) hours of time into the Reclaim Time Bank depending on whether the overtime was earned at the rate of time and one-half or double time. When the staffing needs of the Department are met, such earned overtime (which may be accumulated to a total of eighty (80) hours) may be taken as compensatory time off, subject to approval by the Police Chief, Division Commander or Shift Supervisor. Requests shall be granted in order of their submission. In case two (2) or more requests are submitted on the same date for the same reclaim time off, seniority shall prevail. If an employee’s compensatory time bank exceeds eight (80) hours, any overage will be paid out in straight time pay (e.g., when the compensatory time bank is filled, 1.5 hours of compensatory time are added for every 1.0 hours of overtime worked (8 hours of overtime worked = 12 hours of compensatory time); when compensatory time is used or cashed out, 1.0 hours of compensatory time are deducted for every hour used or cashed out). The parties recognize that to allow time for processing of payroll and calculation of accrued leave banks, the payout of such overage may not occur in the pay period in which the overage occurred. Under no circumstances shall overtime hours paid for in accordance with the Fair Labor Standards Act also be taken as compensatory time off.