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:
If you do not make a declaration during the 2020 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.
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 2020 for any hours up to 40 hours that you cash in during 2020. Please contact your Human Resources department to cash-in any undeclared PTO hours.