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re: Leaving a job- PTO and extended illness bank payouts
Posted on 6/1/16 at 8:45 am to GFunk
Posted on 6/1/16 at 8:45 am to GFunk
quote:
Vacation Pay - Payable upon separation
Sick Leave - Not required nor due upon separation
PTO - Not required or due upon separation
Most employers only offer PTO now to avoid paying out vacation if there is a separation.
IMHO, if you are laid off or fired, they should offer to pay you out. If you decide to leave...dude, that was your choice. Don't let the door hit you on the arse on the way out.
1
Posted on 6/1/16 at 8:52 am to crazycubes
If it is accrued, you are paid out. If you get a lump sum on some random date, you arent paid out. That simple. It can be called PTO, Vacation, Oompa Lumpa days, etc etc. Accrued vs given are the important things
quote:
Last month, an intermediate appeals court in Louisiana held that accrued and unused paid days off constituted earned wages for which compensation was due to a former employee upon separation under the Louisiana Wage Payment Act
quote:
Whether termed vacation, sick, holiday or other form of “paid time off” (often shorthanded as “PTO”), all employers must analyze their PTO policies under state law to prevent unintended consequences thereof. Further, employer may wish to consider aggressive strategies to avoid payout obligations.
This post was edited on 6/1/16 at 8:56 am
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