Policy HR50 USE OF ACCUMULATED VACATION AT TIME OF RESIGNATION OR RETIREMENT, OR UPON COMPLETION OF A FIXED-TERM I APPOINTMENT

POLICY'S INITIAL DATE: October 31, 1958
THIS VERSION EFFECTIVE: February 6, 1990

Contents:

  • Purpose
  • Settlement for Unused Vacation Balance Upon Resignation or Retirement Without Eligibility for University Insurance
  • Use of Vacation Balance Prior to Retirement with Eligibility for University Insurance
  • Completion of, or Retirement from, A Fixed-Term I Appointment

  • PURPOSE:

    To outline what happens to an other-than-academic employee's unused vacation balance at the time of resignation or prior to retirement.

    SETTLEMENT FOR UNUSED VACATION BALANCE UPON RESIGNATION OR RETIREMENT WITHOUT ELIGIBILITY FOR UNIVERSITY INSURANCE:

    When an employee leaves University employment, for other than retirement as specified in the retirement section below, his/her unused accumulated vacation days may not be used to extend his/her termination date. The last day worked is the date of termination, and the dollar value of any unused vacation accumulation due, in accordance with applicable policy or contract provisions, is paid to the employee in a lump sum payment. (See also HRG14 - Establishing Date of Termination of Employment Occurring Near Christmas/New Year's Holiday Period).

    USE OF VACATION BALANCE PRIOR TO RETIREMENT WITH ELIGIBILITY FOR UNIVERSITY INSURANCE:

    An employee who: (a) earns vacation on a formal plan, and (b) has an unused vacation balance, and (c) is retiring from the University, and (d) qualifies to continue the University's insurance into retirement, shall select one of two alternatives for using such unused vacation, subject to approval by the employee's administrative officer. The first alternative provides that all accumulated vacation days be used before the effective date of retirement. The second alternative provides that the employee may use some vacation or not, and receive a lump sum payment for any vacation balance left as of the date of the retirement.

    COMPLETION OF, OR RETIREMENT FROM, A FIXED-TERM I APPOINTMENT:

    Special attention must also be given to the situation wherein an employee on a Fixed-Term I appointment will not be continued beyond the ending date of the appointment to insure that, either accumulated vacation has already been used prior to the completion of the appointment, or that budgetary arrangements have been effected to provide payment of the unused vacation balance. See also Policy BT03 concerning budgetary arrangements.


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