Got Excess PTO? Sell It Back!
We are pleased to announce that the second opportunity to participate in our PTO Sell Back program is here. As per our PTO Sell Back policy, eligible employees can sell back earned but unused PTO time twice a year, in May and November. The November payout will be based on PTO accrued as of the pay period ending November 23, 2019. Payment will be made on Friday, December 6, 2019.
Requests must be completed through Employee Self Service (ESS). Employees must submit their requested pay back hours from November 18 through December 2, 2019. You will receive an automatic confirmation email once you submit your request. You must have a Cooper email address to receive a confirmation. Download instructions on how to submit your sell back.
The following outlines the criteria for eligibility:
- Full-time employees may sell back from eight (8) to forty (40) hours of PTO time in eight (8), ten (10), or twelve (12) hour increments, depending upon the length of the employee’s normal work shift. However, a minimum of seventy-two (72) hours must be maintained in the employee’s PTO bank at the time of the sell back.
- Part-time employees may sell back from eight (8) to twenty-four (24) hours of PTO in eight (8), ten (10), or twelve (12) hour increments provided a minimum of thirty-six (36) hours is maintained in the employee’s PTO bank at the time of the sell back.
- Payment for the sell back will be at the employee’s base rate of pay.
- The sell back of PTO is voluntary and sell back decisions are final upon receipt by the Payroll Department.
- Employees who do not accrue PTO on a bi-weekly basis are not eligible for sell back.
- It is the employee’s responsibility to submit their request via Employee Self Service by 5 p.m. on Monday, December 2, 2019.
- Payroll will adjust any PTO buy back requests on December 3, 2019, where the eligible PTO balance will now fall below the required minimum hours.
Pay Attention to Your PTO Carry Over
Employees may only carry over a certain amount of PTO time from year to year, based on their accrual rate. If you have earned more PTO than your allowed maximum by the end of the year, you will forfeit (lose) the excess at the beginning of the new year.
The annual PTO carry-over limit will be applied during the pay period beginning December 22, 2019, and ending on January 4, 2020, paid on January 10, 2020. All PTO accrued and taken during this pay period will be deducted from your PTO bank before the PTO carry-over limit is applied and excess PTO time is forfeited.
The PTO carry over limit is based on your annual accrual rate, and employees may only carry over one year’s total accrual. Accrual rates are based on an 80-hour pay period.
If you have any questions regarding your carry over limit, contact your manager or Human Resources.
Computer Access and Human Resources Assistance
If you do not have access to a computer or need assistance, you may visit the Human Resources office at Sheridan Pavilion or the CCBO on Monday through Friday, 8 a.m. to 5 p.m., or contact HRBenefits@cooperhealth.edu.