Did you know that Colorado passed a 2020 law that employees cannot forfeit their PTO and the PTO can be used though out ought the year, however WF has decided not to let employees know of the change via a Teamwork’s communication so though employees will use the PTO. What a sham and lack for transparency from a company that promotes candor and transparency
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@5tpk+1fyV3U1Q, CA employees can carry over any unused PTO into the new year with no time limit for using it. All unused PTO is paid out upon leaving the company. Yes, as mentioned, we stop accruing at 1.5 x our yearly allotment. I have a colleague in this predicament - I’m not gonna call him a workaholic, but he’s super dedicated, takes hardly any time off, is in a group that works people HARD and has 10+ years of service so he gets like 6 weeks a year. But if he leaves, he’ll get around 9 weeks paid out. If he lived in most other states, the best he could do would be 6 weeks payout, and that would require leaving at year-end after taking no PTO all year except for 5 days in Q1 (carried over from prior year). If he were to move to another state with less favorable rules, that’s not leaving the company, so I believe if he moved after 3/15, he’d forfeit everything except what he’s accrued YTD (or the equivalent since he’d stopped actively accruing). Source: I’m a longtime CA resident who manages people who work in several other states, though never anyone who moved states while remaining at Wells.
lol @ assuming rhis place would pay anything out
I'm newly affected by this and have a question, as part of the policy is unclear (or perhaps I need more caffeine). If one moves from an accrual cap state (such as California) to a non-accrual cap state (such as Iowa), does the bank pay out ALL unused PTO, or just any PTO greater than the annual allotment?
A Coloradan here. Carryover for four states was mentioned in yesterday's Team Link e-mail, but a cap was not. I followed a link embedded in the e-mail to a KB article (published just yesterday) describing the cap. Looks like employees in CA, CA, MT, and NE are having their PTO capped at 1.5 X their annual PTO allowance.
I knew this was how PTO worked in CA, but I was not aware of the other states. Basically, since those states won't allow employers to take back PTO that's been granted, employers work around that by capping employees' PTO in those states. Otherwise employees could accumulate PTO with no limits. Sounds great for employees, but it's a huge liability for employers. I think this approach is a suitable workaround, but I'll have to consider how it will affect me.
It sucks that I had to find out about this on the Layoffs board. Again, when normal channels of communication fail, employees will create their own unofficial ones.
That’s interesting. I thought Colorado was one of the states where you get to keep accruing it, so had to check the 2/22 Team Link email. There are a few states where you are allowed to keep accruing your PTO. I thought I read Colorado, Nevada, and California somewhere. It looks like they just mention California, Nebraska, and Montana in the email. If you click on the link though, it does include Colorado in the list. There is more information on the PTO accrual cap. If you don’t have the team link article, you might try a Teamworks search for PTO Accrual Cap Provisions FAQs.
Ok?