Planning on taking a position outside of Chevron. Will I be able to bank my accrued PTO?
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Yes. This is why a few years ago they started accruing vacation by pay period rather than granting it on Jan 1. They didn’t want layoffs/quitters in q1 to be paid their whole allotment. You can use more than you accrued without paying it back though.
Lots of blah-blah-blah now on this topic. Short summary - you're paid for your unused vacation.
If he thinks that you match any of an endless list of imaginary character traits that the popcorn troll thinks he can pair you with, you are immediately called "Popcorn" in a response as he thinks you are his nemesis. Very predictable. One if them is being laid off in 2016, evidently. There are countless others. So, yes, as you can imagine, it's virtually everyone. But please don't dissuade him, it's incredibly entertaining.
The pathetic loser LGBTQ popcorn troll is back? the one with no nuts? I sho miss him!. LMAO!
Good for you, Popcorn. Times have changed.
When I was laid off in mid 2016, I had not yet taken any of my vacation time. The company paid me all my annual entitled vacation days without any question.
The max hours of vacation time you can accrue is a function of your total number of weeks available. It may be something as simple as you can accrue your full allotment + one week or more involved. I found the policy for it when I bumped up to another week of vacation but I can't remember the details.
One way to check to make sure you don't "work for free" is periodically go in SAP time sheet and check your time balances at different dates. Eventually you will hit a point where the vacation time stops going up. That means you're maxed out and you want to take some time off before that day hits.
Also note that if you reach a maximum number of vacation hours, you stop accruing. I forget what that max is, but you can easily look that up on our intranet. This might be a concern if you carry over vacation hours from the prior year.
@5ige, "use it or lose it" was an old 90's threat. Nowadays, you can't "lose" something you've earned. Thank Wall St. for this, it was common practice there that law firms and accounting companies would offer new or headhunted employees huge amounts of "vacation", then work them into the ground so they could never use it. The Federal government stepped in and said if it was earned, employees had to be paid for it if they didn't take it. Chevron used to award your entire vacation on January 1, then had to pay it out if you quit on March 2 (right after the bonus cleared). They changed that a decade or so ago, now in that same scenario you've only earned 1/6 of your yearly vacation time, not the whole thing.
I was always told that vacation time was “use it or lose it at the end of the year”, but in practice there have been several years that I got busy and did not take all my vacation time and after the new year all that time was still there. I am not saying one should not take all your vacation time, but only suggesting that it never really goes away until you use it (or take a payout when you depart).
Chevron now allows you to carry over a week of vacation into the next year. If you've decided to move on, carry over that week of vacation from, say, 2023, take as little as possible in 2024, then quit in 2025, and get like a month or so of extra paycheck.
Yes. It's a legal requirement (that is, you earned it), so it's routine to get a check for your accrued but unused vacation, regardless of how or why you're leaving Chevron. All the down votes here are just fuming HR types.
I never take vacation on the year I leave and always leave late in the year so I can get the payout in cash. Same goes for transfer years. Ka-ching!
I think so
Earned vacation - yes
Not yet earned vacation - no
There was a policy change on this a few years ago.
If you know you’re going to leave, recommend you take ALL your vacation (including not yet earned), THEN tell them you’re leaving. You do not have to pay back vacation you take before you earn it even if you leave the company before earning it.
Bonus tip: Do the same if you have an FSA. You have access to your full balance January 1 and can spend it all even if the withholding on your paycheck haven’t amounted to the full FSA balance to which you have access.
I might not be using all the correct terminology about this, but that’s the layman’s version.
You absolutely get the PTO paid out
Not if you voluntarily resign. But, Yes, if you are involuntarily laid off or agree to leave under the company’s severance program.
No! No soup for you! but yes, you get the PTO in cash.
Yes.
Yes
Yes you should be able able to