Carry-Over: An employee is allowed to carry-over up to one week s scheduled hours of accrued but unused PTO to the following calendar year.

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1 Paid Time Off Policies Policy Title: (PTO, Holiday, Bereavement & Jury Duty) Supersedes Policy: HR-5 & HR-17 Date Issued: July, 2000 Policy Number: HR-5 Date Revised: August, 2017 Purpose This policy sets forth the guidelines and procedures regarding paid time off ( PTO ). PTO combines paid vacation, sick leave and personal time into one plan. This policy also covers other forms of paid time off such as holidays, bereavement, and jury duty. If applicable federal, state or local law conflicts with any provision of this policy, Weichert will provide the greater of the paid time off benefits pursuant to applicable federal, state or local law or this policy. Employees to Whom Policy Applies This policy applies to all regularly scheduled full-time employees (working 30 hours or more per week) and, in applicable local jurisdictions, part-time employees (working less than 30 hours a week). This policy does not apply to DOORS Techs and Real Estate Instructors who are employed by US-based Weichert entities. Policy Statement PAID TIME OFF (PTO) Waiting Period: PTO begins accruing on an employee s hire date/rehire date or effective date of change in status to a PTO-eligible job or status. Except as noted below, a 60-day waiting period to use PTO will apply. An employee will not be paid for time off taken prior to the completion of the 60-day waiting period. Exception for all BOQ employees: For purposes of sick leave, a waiting period does not apply to employees of Basic Overnight Headquarters ( BOQ ), a Weichert entity that is a covered federal contractor pursuant to Executive Order BOQ employees are eligible to take up to seven (7) days of PTO per calendar year (pro-rated based upon the date of hire) for purposes of sick leave following their date of hire. Carry-Over: An employee is allowed to carry-over up to one week s scheduled hours of accrued but unused PTO to the following calendar year. Exception for all BOQ employees: effective January 1, 2017, BOQ employees will be allowed to carry over up to seven (7) days of accrued but unused PTO in the subsequent calendar year. Once a BOQ employee has reached his or her maximum PTO accrual for a year (including any carry over for the applicable calendar year), the BOQ employee will not be eligible to accrue any additional PTO until the employee s PTO falls below his/her maximum accrual.

2 Exception for employees regularly scheduled to work in California on a full time basis: All PTO which was accrued but not used during calendar year 2016, will be carried over into calendar year Effective January 1, 2017, the carry over policy will change with the addition of a cap on the amount of PTO which may be accrued during the applicable calendar year. Once an employee has reached his or her maximum PTO accrual of 150% of the amount which can be accrued annually, the employee will not be eligible to accrue any additional PTO until the employee s PTO falls below his/her maximum accrual. Termination/Status Changes: A terminated employee will be entitled to payment of accrued, but unused PTO, subject to applicable federal, state and local law requirements. Payment calculations will be based on an employee s base salary at the time of termination. An employee who receives only overrides and no base salary will be paid out accrued and unused PTO based on the average overrides over the prior 12 months. If the employee has not worked for 12 months, either due to disability or because he/she was recently hired, the amount will be prorated based on the number of months worked. An employee who transfers from a PTO-eligible position or status to an ineligible position or status will receive payment for time accrued but unused as soon as administratively possible. Accruals: Accruals are based on years of service and continued eligibility for PTO. On the day after the employee s 5 th, 10 th and 15 th anniversary, an employee begins accruing PTO at the corresponding level for those years of service (per the right hand column of the charts below). Standard Weekly Hours: 37.5 Recognized Years of Service Hours* Accrued per Pay Period Total Number of PTO Days Prior to 5 Year Anniversary Date Year Anniversary Date Year Anniversary Date Year Anniversary Date Standard Weekly Hours: 40 Recognized Years of Service Hours* Accrued per Pay Period Total Number of PTO Days Prior to 5 Year Anniversary Date Year Anniversary Date Year Anniversary Date Year Anniversary Date *If an employee s standard weekly hours are other than those noted, he/she will need to multiply the annual number of PTO days provided in the right hand column that correspond to their years of service by the number of hours they are scheduled to work each day to receive total annual accrual. Divide that number by 26 (number of annual pay periods) to obtain the biweekly accrual amount. Should an employee s schedule change during the course of the calendar year, he/she will accrue PTO based on the new scheduled hours. A date of hire for PTO accrual purposes may be affected by breaks-in-service, acquisitions and transfers between positions that are eligible or ineligible for benefits. PTO will be pro-rated for a new hire, rehires or any employee who transfer to a PTO eligible status. An employee on paid leave (ex. disability) continues to accrue PTO. An employee on unpaid leave (ex. FMLA) will not continue to accrue PTO while on leave.

3 PTO hours are not counted as hours worked for overtime pay purposes. An employee will not be paid for any time off in which the time taken by the employee exceeds the annual PTO accrual for that employee. Requesting PTO and PTO Usage: Planned Absences The Company depends on having enough staff to serve our customers and keep business operations running smoothly and productively. Therefore, advance scheduling of PTO whenever possible is very important. In addition, each department head may have different requirements based on their specific business needs and the nature of the work being performed. Each employee should consult with his or her manager to understand any specific requirements. An employee is expected to provide his or her manager with as much notification as possible of any planned PTO in order for the department to make arrangements for adequate coverage during an absence. For historically busy business periods (such as budget planning/creation, year-end reporting, etc.), a minimum of four weeks notice is requested and all planned time off should be coordinated with any planned time off scheduled within a department. For all other times, an employee is expected to provide his or her manager with the appropriate amount of notice, as defined by the department head, for any planned PTO. Partial day absences: PTO can be taken in partial day increments of one hour or more. It is at the manager s discretion to limit the number of employees taking PTO during any period of time. It is at the manager s discretion to limit the number of days of PTO taken consecutively based on business needs. An employee is required to take a minimum of five (5) days of planned PTO during the applicable calendar year. Unplanned Absences Unplanned absences, other than absences that qualify for the Family and Medical Leave Act (FMLA), Workers Compensation, the Americans with Disabilities Act (ADA), qualifying state or voluntary disability or military leave, [ Qualifying Leaves ] are outlined below. Employees are required to provide at least 24 hours notice in advance of an absence, except in cases of illness or emergencies, in which case notice is required to be given as soon as possible by speaking directly with his/her manager at the onset of each scheduled workday. Any absence from the office without prior notification to the manager will be considered an unplanned absence. An excessive pattern of unplanned absences will be addressed through performance evaluation and/or progressive discipline. Any unexcused absence from work for three consecutive business days during which an employee does not speak directly to his/her manager will result in possible termination for job abandonment. In the event of potential job abandonment, managers must contact the Human Resources Department to discuss next steps.

4 An employee returning to work after four days of absence due to illness must provide his/her manager with a health care provider s note, indicating that he/she may return to work. The note should not provide diagnosis information. If an employee is absent for more than seven consecutive days due to illness, please refer to the Short Term Disability Guides, located on the Company intranet site for further guidance. Subject to any exemptions pursuant to applicable federal and state law, when an employee is absent from work for six months in any rolling 12-month period for a Qualifying Leave, he/she may be subject to termination of employment. A manager must contact the Human Resources Department to discuss next steps. Miscellaneous Pay in lieu of PTO is prohibited. When an employee resigns, PTO should not be scheduled during the notice period to ensure a smooth transition. HOLIDAYS The Company designates scheduled paid holidays. Please review the holiday schedule for your division as provided on the Company intranet site. The Company will also grant a reasonable amount of paid time off for a religious or ethnic holiday. If an employee does not have any PTO available to take for this purpose, the time off will be unpaid. An employee must be regularly scheduled to work on the day of a holiday in order to be eligible for holiday pay. Holiday pay will not be considered as time worked for the purpose of overtime calculations. Holiday pay is computed based on an employee s base rate of pay. Holiday pay will not be paid to an employee on any type of leave (including disability). A holiday which falls within an approved scheduled PTO will be recorded as holiday pay and will not count towards PTO taken by the employee. An employee s last day of employment cannot be a scheduled holiday. If an employee resigns, retires or is terminated, his or her last day of employment will be the day before the scheduled holiday. EARLY CLOSE An employee will be paid for a full regularly scheduled work day if the office closes early and the employee is at work until the early close of business. An employee who works only a partial day when the office is scheduled to close early is required to take PTO for the remainder of the day (including the time after the office is scheduled to close). For example, an employee who is regularly scheduled to work 8:30 am 5:00 pm and leaves at 2:00 pm (instead of at the 3:00 pm scheduled closing time) must use 3 hours of PTO.

5 Please refer to the inclement weather policy for timekeeping related assistance in the event of an early close due to inclement weather. BEREAVEMENT A full-time regularly scheduled employee is eligible to receive up to three (3) days of leave with pay in the event of the death of an immediate family member and one (1) day of leave with pay for extended family. Immediate family includes: parents, step-parents, spouse, siblings, step-siblings, children, stepchildren, mother/father/brother/sister/daughter/son in-laws, grandparents/grandchildren, and domestic partner. Extended family includes: great grandparents, aunt, uncle, niece, nephew and first cousin. In the event of a death of a relative not listed, PTO may be approved for bereavement at the discretion of the employee s supervisor. The Company expects an employee to notify his or her manager with the amount of time off that will be needed as soon as possible. JURY DUTY Should an employee be called to serve jury duty, the employee should provide his or her manager with as much advance notice as possible, as well as proof of the call to jury duty. An employee will be paid straight-time for each day of jury duty served during the regular work week. An employee may retain any payment received from the court for jury duty. An employee is expected to report to work if he or she is temporarily excused from jury duty on a day normally scheduled to work or if he or she is excused prior to 1:00 p.m. on a day normally scheduled to work. Any employee found to have violated this policy may be subject to disciplinary action up to and including termination of employment. Authority Policy administered by the Human Resources Department. Questions regarding this policy should be directed to, HR@weichertrealtors.net.