So first the remove the 401k match if you aren’t working the last day of the year and now they remove payment for unused vacation!
But the caveat on both is if you are over 55 and 10 years service.
Yet another reason for management to cut seasoned workers to get out of paying benefits.
Plus if you are going to leave it makes it more advantageous to use up your vacation before you give notice.
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I left in Sept 2024 and used all my vacation besides 4 days. And I got a bill I had to pay back 116.00 or they was sending to collections, I had even bought the extra week. So if you use all vacation when leaving you will have to pay back BUT sick time you dont!
Can't wait until I find a new Job. I am going to take the new job. Then be sick at US bank for all my sick hours. Then I will start the new job. Still be using my vacation till it's all used up. Then I will just quit without 2 weeks notice. jokes on them.
@2ioe+1vNtPn5R Good point, but you might not know you are being fired. You might have time to vacation time as it is earned just so you keep the benefit in the event of firing. The benefits changes being made make the company less competive and less attractive as an employer.
Hold up. So if I have a negative vacation balance and they fire me, I’ll have to pay them. But if I have a positive vacation balance at termination, I have to surrender it to them? That’s so messed up. Why would anyone in that situation give notice? Just take the time off I and don’t come back or resign afterwards. Are they really that d-mb?
Follow the money. I predict non-layoff firings in near future. They do this with PIPs.
So glad I'm retiring this year before changes go into effect
Use them or lose them, yes, but if you left the company, vacation was paid out. Now, unless you live in the several states that require payout upon departure, you truly do “lose it”
Wow, that su-ks that you lose it if you quit. This bank gets worse
What’s changed is that if you voluntarily leave the company, and have accrued Vacation hours that you have not used, you no longer get paid out for them.
E.g. Currently if I left the company today and had 20 hours of PTO that I haven’t used, since I accrued them as a benefit I get paid out those 20 hours. Starting next year, no pay out.
Use it or lose it, bought or not.
They are changing that if you are fired they don’t have to pay for used days
What has changed about vacation? It has always been been use or lose it unless you are in 3 states, CA, CO, and one other state.
By way, in CO and CA, they are required to pay any vacation earned and not used, state law Trumps bank law
Vacation days have always been use them or lose them, unless you were in a state that required payment for unused vacation days.
What about if you are paying for an extra week?