Common use of Compensatory Time Bank Clause in Contracts

Compensatory Time Bank. Employees may choose to receive payment for overtime worked as 16 compensatory time off at the rate of one and one-half (1½) hours of compensatory time for each hour of overtime 17 worked. Compensatory time cannot be used until after the pay period in which it is accrued. Compensatory time 18 must be used at a mutually agreeable time. 19 Employees may accumulate compensatory time up to 120 hours in a fiscal year. An employee’s compensatory 20 time bank shall not exceed 120 hours at any one time. Any hours over this limit will be paid at the overtime rate 21 at which was earned. When an employee dies while in paid status in City service, any unused compensatory time 22 to his credit shall be paid in a lump sum to the surviving spouse or to the estate of the deceased. Compensatory 23 time shall be paid at separation of employment. Additionally, compensatory time can be cashed-in once per 24 calendar quarter at the employee’s option, to be paid at the time of the last pay period in March, June, and 25 September, and the first pay in December. 26