Common use of PTO CALCULATION Clause in Contracts

PTO CALCULATION. The amount of PTO is calculated by multiplying the PTO Accrual Rate Per Hour Paid by all hours paid (including holiday, PTO, jury duty, bereavement leave and overtime hours) each biweekly pay period (up to the stated maximum per calendar year). a) The maximum number of hours that vests each pay period can be calculated by dividing the employee's maximum accrual by twenty-six (26). The employee vests in accrued PTO based on a maximum of seventy-two (72) hours per biweekly pay period (for employees working fewer than twelve (12) hour shifts the maximum is eighty (80) hours per bi-weekly pay period). Any PTO accruals that exceed the biweekly limit will be carried over to vest in a following pay period in which the employee has fewer paid hours than the biweekly limit. b) PTO will not accrue during unpaid time or when an employee is on an authorized leave of absence unless otherwise required by law. c) The maximum amount of banked PTO an employee may have on the books at any given time will be one hundred-sixty (160) hours. PTO will stop accruing when the employee's PTO balance reaches the combined maximum balance or the calendar year maximum accrual, whichever occurs first. PTO will resume accruing when the employee begins to use PTO and reduces the combined balance below the allowed maximums, so long as the calendar year maximum accrual has not been met. During any period that an employee's PTO account balance and/or annual accrual have reached allowed maximums, PTO does not accrue and any forfeited hours are not added retroactively to the employee's PTO account.

PTO CALCULATION. The amount of PTO is calculated by multiplying the PTO Accrual Rate Per Hour Paid by all hours paid (including holiday, PTO, jury duty, bereavement leave and overtime hours) each biweekly pay period (up to the stated maximum per calendar year). a) a. The maximum number of hours that vests each pay period can be calculated by dividing the employee's maximum accrual by twenty-six (26). The employee vests in accrued PTO based on a maximum of seventy-two (72) hours per biweekly pay period (for employees working fewer than twelve (12) hour shifts the maximum is eighty (80) hours per bi-weekly pay period). Any PTO accruals that exceed the biweekly limit will be carried over to vest in a following pay period in which the employee has fewer paid hours than the biweekly limit. b) b. PTO will not accrue during unpaid time or when an employee is on an authorized leave of absence unless otherwise required by law. c) c. The maximum amount of banked PTO an employee may have on the books at any given time will be one hundred-sixty (160) hours. PTO will stop accruing when the employee's PTO balance reaches the combined maximum balance or the calendar year maximum accrual, whichever occurs first. PTO will resume accruing when the employee begins to use PTO and reduces the combined balance below the allowed maximums, so long as the calendar year maximum accrual has not been met. During any period that an employee's PTO account balance and/or annual accrual have reached allowed maximums, PTO does not accrue and any forfeited hours are not added retroactively to the employee's PTO account.

PTO CALCULATION. The amount of PTO is calculated by multiplying the PTO Accrual Rate Per Hour Paid by all hours paid (including holiday, PTO, jury duty, bereavement leave and overtime hours) each biweekly pay period (up to the stated maximum per calendar year). a) . The maximum number of hours that vests each pay period can be calculated by dividing the employee's maximum accrual by twenty-six (26). The employee vests in accrued PTO based on a maximum of seventy-two (72) hours per biweekly pay period (for employees working fewer than twelve (12) hour shifts the maximum is eighty (80) hours per bi-weekly pay period). Any PTO accruals that exceed the biweekly limit will be carried over to vest in a following pay period in which the employee has fewer paid hours than the biweekly limit. b) . PTO will not accrue during unpaid time or when an employee is on an authorized leave of absence unless otherwise required by law. c) . The maximum amount of banked PTO an employee may have on the books at any given time will be one hundred-sixty (160) hours. PTO will stop accruing when the employee's PTO balance reaches the combined maximum balance or the calendar year maximum accrual, whichever occurs first. PTO will resume accruing when the employee begins to use PTO and reduces the combined balance below the allowed maximums, so long as the calendar year maximum accrual has not been met. During any period that an employee's PTO account balance and/or annual accrual have reached allowed maximums, PTO does not accrue and any forfeited hours are not added retroactively to the employee's PTO account.