Hey fellow antiworkers,
I have a question about PTO and whether it can be cashed out when leaving a company. I'm in California, so my understanding is that they'll have to cash out my PTO if/when I leave. Where the question comes in, is that my company has been downsizing for the last few years. I'm one of the oldest employees, and only a couple of us receive PTO. I don't take days off, because we've downsized, and only apply PTO to holidays when the office wasn't open (employer doesn't offer holiday pay) So the policy has more or less been forgotten.
The policy, which is from 2014 and has not been updated since to my knowledge is pasted below:
“____________ provides its full time employees with exempt status with paid time off (“PTO”) each year as a way to express our appreciation and a way to renew and refresh our employees. Because our business is often very seasonal, the company reserves the right to grant PTO at times that is most suitable for our business conditions and to limit PTO during our busy season.
Full time employees with exempt status become eligible for five (5) days of PTO per calendar year after 12 months of continuous employment with the company.
Employees must use all PTO in the calendar year in which it is granted. It should be scheduled and approved by the company at least two weeks in advance. Any unused PTO will be forfeited at the end of each calendar year.
Upon termination of employment for any reason, employees forfeit any accumulated but unused PTO. Regular part time employees are not eligible for PTO.“
It calls for 5 days of PTO for every 12 months of employment, with no upper end limit other than the expiration date which I believe CA does not allow. There is, clearly, no one keeping track of PTO. I've noticed that I'm being credited for PTO at a 1:1 scale with my hours worked. My most recent pay stub updated my vacation hours to 5095.84.
Now to my question:
When I leave, are they required to pay out all of the hours of vacation time on my pay stub, or can they limit it based on an agreement made almost a decade ago?