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Annual Buy Back
The annual PTO sell back plan allows employees, including those in their probationary period, to sell unused PTO back to the University. It is designed to allow employees to have greater flexibility in their time off/ cash compensation configuration. The sell back plan standards are as follows:
- NON-EXEMPT EMPLOYEES may sell back unused PTO days, providing that at least five days (40 hours) remain in their PTO bank at the time of pay out.
- EXEMPT EMPLOYEES may sell back up to five days (40 hours), providing that at least five PTO days (40 hours) remain in their PTO bank at the time of pay out.
- PART-TIME EMPLOYEES may sell back all PTO.
PTO will be sold back to participating employees at their base pay rate in effect at the time the pay out occurs in January.