What happens to those employees who received honorary vacation time at the beginning of 2002? Will they receive extra Vacation Time under this new program?
Yes. They will receive a lump sum of 15.4 hours in May and their accrual rate will increase to the next level. This amount plus the amount they will start earning in the new biweekly accruals will ensure that these employees receive the full 40 hours that they would have received in January 2003 under the old time off program. • I have accumulated bonus holidays. Will these be converted to Vacation Time? Yes. Any accumulated bonus holidays, as well as vacation time and honorary vacation, will be combined as Vacation Time. • Under the old plan employees had until the end of the next year to use a bonus holiday(s). Since bonus holidays will be combined as Vacation Time, employees are concerned that with the existing limitation on vacation usage, they might lose the bonus holiday. In actuality, the fact that bonus holidays will be accrued as part of Vacation Time, is an added benefit for employees. Under the old plan, employees could only carry over unused bonus holidays for one year. Aft
Related Questions
- What happens to those employees who received honorary vacation time at the beginning of 2002? Will they receive extra Vacation Time under this new program?
- What happens to the six-month waiting period for new employees to use their vacation and sick time?
- When a co-op goes on Leave to Graduate, what happens to the vacation time accrued?
