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PTO Cash-in

During annual enrollment, all management and non-management colleagues regularly scheduled (budgeted) to work at least 32 hours per pay period can declare the number of PTO hours to cash in during the calendar year - up to a maximum of 40 hours. Physicians are not eligible to cash-in PTO. By making this declaration during annual enrollment, you will receive the PTO hours you cash in at 100% of your straight time rate of pay. Keep in mind that:

  • You may only request payment for hours that will accrue in 2021.
  • You cannot cancel your 2021 PTO cash-in declaration after 2021 annual enrollment ends.

If you do not make a declaration during the 2021 annual enrollment period or declare that you wish to cash in less than 40 hours and later choose to cash in more hours, the additional PTO hours you decide to cash in will be paid at 90% of your straight time rate of pay in accordance with IRS guidelines. Please contact your Human Resources department to cash-in any undeclared PTO hours.

If you are going to transfer to another HSHS facility or move to a management position that is not qualified to cash in PTO at 100%, you will need to request payment for PTO hours before you transfer or move to the new position.

How the Cash-in Policy Works

During annual enrollment for 2021, if you declare that you will cash in: Based on IRS guidelines, you will be paid: For example:
Up to 40 of the PTO hours you will accrue in 2021 100% of your straight time rate of pay for the number of hours you declare If you declare 40 PTO hours, you will be paid 100% of your straight time rate of pay for 40 PTO hours in 2021.
Less than 40 PTO hours 100% of your straight time rate for the number of hours you declare If you declare 30 PTO hours, you will be paid 100% of your straight time rate of pay for 30 PTO hours.
If you choose to cash in more hours later 90% of your straight time rate of pay for the number of hours you cash in later If you cash in 10 hours that you did not declare, you will be paid 90% of your straight time rate of pay for 10 hours.


If You Make No Declaration or Become Eligible for PTO after the 2021 Annual Enrollment Ends

You will be allowed to cash in up to 40 PTO hours. You will be paid at 90% of your straight time rate of pay in 2021 for any hours up to 40 hours that you cash in during 2021. Please contact your Human Resources department to cash-in any undeclared PTO hours.