Deposits Into Your Leave Account This policy is administered on a calendar year basis from January 1 to December 31, and PTO is calculated according to your work anniversary year. The amount of PTO received each year is based on your length of service and is governed according to the accrual schedule determined by the Company, up to a maximum annual grant as shown below:
First through fourth year of employment: 15 days annually Fifth through 11th year of employment: 20 days annually 12 or more years of employment: 25 days annually
Employees are eligible to receive their PTO increase at the start of the year in which their respective work anniversary falls. (For example, if your 5th year of service with the Company falls on July 1, you will accrue 20 days of PTO for that year). If an employee is rehired after voluntary resignation, prior service will be added to current service to determine the PTO eligibility in the years following the year of rehire, unless the time away from the Company exceeds the length of prior service. Management level employees with the title of Executive or Senior Vice President and above will be eligible for 20 days of PTO in years one through four and 25 days upon reaching their fifth year of service. Leave Usage and Requests for Leave CREA encourages you to use your PTO time. You must request PTO from your manager as far in advance as possible. The Company will generally grant requests for PTO when possible, taking business needs into consideration. You must take PTO in 4-hour (half day) or 8-hour (full day) increments. Any time off taken in excess of earned PTO time during the calendar year will be without pay and will be in accordance with policies for leaves of absence, including leave eligibility requirements. Employees are not entitled to pay in lieu of taking PTO days (i.e., Employees are not permitted to "cash-out" unused PTO days). During a Leave of Absence The Company may require you to use any unused PTO during disability or family medical leave, or any other leave of absence, where permissible under local, state, and federal law. You will not accrue PTO during unpaid leaves of absence, or other periods of inactive service, unless PTO accrual is required by applicable federal, state, or local law. Carryover Unless superseded by state or municipal law, a maximum of five (5) days unused PTO can be carried over to the following year at the beginning of the following calendar year. Any PTO in excess of five days will be lost if it is unused in the calendar year unless extenuating business circumstances have prevented the employee from taking PTO. In these cases, PTO may be carried over and taken in the first half of the next calendar year with the written approval of the Department Head and Human Resources. Separation of Employment If you do not remain actively employed as of the first day of the month, you will not accrue PTO for that coming month. Upon separation of employment for any reason, you will be paid for earned but unused PTO
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