2021 Cash Out
Annually, UPG employees will have the opportunity to cash out a portion of their PTO balances. Each employee who has worked at UPG for at least three (3) consecutive years (as of 12/31) has the option to cash out up to forty (40) hours of PTO at the employee’s normal hourly rate of pay if after the cash-out the employee retains a balance of at least eighty (80) hours of PTO. Cash-out requests must be made in Workday.
You have from November 14 to November 28 to submit your PTO cash out; note that you must choose November 27 in Workday as the date of your request.
Cash-out payments will be included in your December 3 paycheck.
Follow these steps to submit your cash-out request: · Review the job aid for step-by-step instructions.
- Your cash out can be requested any time between November 14 and November 28 in Workday. The election can only be done during this time frame, and you can access Workday online anywhere with an internet connection
- Please note: you must select November 27 as the date of your request
- Your cash-out request cannot exceed the allowed maximum hours of 40 as defined on the HR Policy. You must have a minimum remaining balance of 80 hours.
- You cannot enter more than one cash-out request. If you would like to adjust your request, you must delete the initial request and resubmit.
- The process in Workday is only for requesting PTO cash out. Please continue to submit other time off requests as usual in Workday.
Keep in mind, up to one (1) year’s accrual of PTO may be carried over to the next calendar year. On January 1 of each year, employees will forfeit any amount of PTO over one year’s accrual. For 2021, this amount was increased by 40-hours due to the financial mitigation efforts.
To review your projected Carryover Forfeited (use or lose) hours, and what the maximum rollover is including the additional 40 hours for this year, go to Workday:
1. Click on the Absence app
2. Click on the Absence Balance
3. Enter the first period end date of the new calendar leave year (01/09/2022)
4. Click OK
- The “Beginning Period Balance” is the amount you are allowed to carry over into the new leave year, which includes the additional 40 hours.
- The “Carryover Forfeited in Period” column contains the use or lose hours for the prior leave year.
As always, if you have questions or concerns, please reach out to the HR Solution Center at email@example.com