Employee Update: March 8, 2023
FAQs on ET Cash Out
- Who is eligible to participate in the ET Cash Out?
Any employee with an ET balance of greater than 128 hours at the time of the cash out – April 14, 2023 is able to cash out ET.
- What is the maximum hours I am able to cash out?
Employees are eligible to cash out a maximum of 80 hours of earned time.
- Why am I only able to cash out 80 hours of ET? Why am I not able to cash out more?
The goal of earned time is for employees to take time away from work to relax or to care for themselves or the needs of their family. Our goal with the ET cash out is to allow you to cash out some of your hours while still maintaining a balance for things that may come up during the remainder of the year.
- Do I have to maintain a balance of earned time?
Yes, we are requiring that you maintain an ET balance of 128 hours after you cash out hours.
- Why do I have to maintain a balance of 128 hours? I have accrued these hours and I should be able to manage my own ET hours.
Again, the goal of the earned time program is to allow employees paid time away from work. The reason behind the balance requirement is at least 80 hours to get you to short term disability (if eligible), or to cover you with paid time off for an emergency and an additional 48 hours to cover the six holidays.
- What if I don’t have the time in my bank at the time of the cash out, or I have less than 128 hours in my bank?
If you don’t have the available hours in your bank at the time of cash out, you will not be able to cash out any hours. Example, you requested to cash out 80 hours, when the time for the cash out comes, you have 140 hours in your ET bank. You would only be able to cash out 12 hours of earned time.
- What if I change my mind after I submit my request?
You can change your mind up until April 14, 2023.
- How will the ET cash out be paid?
The ET cash out will be paid as a part of the regular check cycle on pay date May 5, 2022.