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Buying and Selling PTO

Eligible staff may elect to buy or sell paid time off (PTO). Upon hire and at open enrollment staff may purchase PTO hours. PTO purchased during open enrollment may be used during the next calendar year. You may sell back PTO at any time during the year.

 
How to Buy PTO

During the annual open enrollment and/or at their initial hire, eligible* staff members may purchase up to 40 hours of additional PTO with pretax dollars.

• PTO is purchased in one-hour increments with a minimum purchase of eight hours.
• Beginning with the first pay in January (or first pay of the month following a new employee's hire date), a pre-tax deduction will be taken based on the following formula:
  The number of elected hours multiplied by the hourly rate in effect when the election was made, divided by the number of payroll periods remaining in the calendar year.
• The purchased PTO hours are added to the PTO balance and are available for use after the first full pay run after the effective date and election has been made.
• Purchased PTO hours must be used in the calendar year in which they are bought.
• Accrued PTO earned as of the prior Dec. 31 must be used before using purchased PTO.
• Any PTO Buy hours that have not been used before the last pay of the year will be automatically paid out in the last pay of the year. Therefore it is generally not available for use after mid December.

PTO purchased during open enrollment must be used between Jan. 4 and Dec. 19, 2009. It is available for use at the discretion of your supervisor.

 
How to Sell PTO

Eligible staff members may sell up to 40 hours of PTO any time during the year.

• Hours are sold in eight-hour increments, enabling staff to sell back one to five days.
• Staff members must have a balance of at least 80 hours after the PTO is sold back.
• Payments are made in a separate check as soon as possible after receipt of the request by payroll.
• To sell back your PTO, log in to My HUB, click the Human Resources tab, then use the My Payroll link to access the PTO Sell Request.

You cannot sell PTO in the same year in which you buy PTO.

*This information may not apply to some physicians and some members of collective bargaining units. Refer to the terms of your contract for eligibility. The PTO Buy option will not show during your My HUB enrollment session if you are not eligible.