Elect to cash out your PTO
Elections for 2023 PTO cash outs must be made no later than 4:30 p.m. on Wednesday, Nov. 30. Submissions made after this time and date will not be accepted. Cash-out payments will be paid in August 2023.
In November, eligible employees participating in the PTO program may elect to cash out up to 80 unused PTO hours in the following year. Employees are required to have 80 hours of PTO (pro-rated based on full-time equivalent) remaining in their accounts at the time that payroll calculates the amount available for payment.
Elections for 2023 cash outs must be completed no later than 4:30 p.m. on Wednesday, Nov. 30. Submissions made after this time and date will not be accepted. Cash-out payments will be paid in August 2023. As applicable, please note that all leave reports must be completed and approved to receive a PTO cash out.
PTO-eligible administrative and staff employees will receive an email providing a link to the electronic submission of their PTO cash-out election for 2023.
This year, elections for PTO cash outs must be accomplished using this direct link. Employees should refer to detailed instructions on how to make the election using DocRoute. If the election is successful, the employee will receive a confirmation email. Those who require assistance with the process should contact the Human Resources office on Cox Street.
Internal Revenue Service rules necessitate that employees make irrevocable elections with respect to items of income in the tax year PRIOR to the year in which the income is EARNED (this includes electing voluntary payment for PTO in the tax year prior to earning the hours).
Cashed-out PTO is limited to the hours earned from Jan. 1, 2023, through the official cash-out date. If the elected cash out exceeds the number of PTO hours earned, the cashed-out hours will be limited to the hours earned, up to a maximum of 80 hours. Also, in accordance with IRS rules, no exceptions are permissible.
