PTO Buy Back?

[jay peso]

This is my first year with FDX. ? for the vets on here...I have built up PTO, Floating Holiday, personal hours & sick hours. Which of these hours can I cash out if unused by May 31 and which ones do I lose if I don't use them by the 31st?

 

[dezguy]

This is my first year with FDX. ? for the vets on here...I have built up PTO, Floating Holiday, personal hours & sick hours. Which of these hours can I cash out if unused by May 31 and which ones do I lose if I don't use them by the 31st?

I believe the only thing you can cash in is unused vacation and even that varies, station to station.

 

[MassWineGuy]

They’ll pay you your sick time if any remains.

 

[Operational needs]

Personal, floaters and vacation you’ll lose. You CAN sell back vacation though but not the other two. If you don’t sell it back they will schedule it for you. They might also schedule your floaters and personals. You will get paid for your sick time most likely in June.

 

[vantexan]

This is my first year with FDX. ? for the vets on here...I have built up PTO, Floating Holiday, personal hours & sick hours. Which of these hours can I cash out if unused by May 31 and which ones do I lose if I don't use them by the 31st?

If they are offering to buy back a portion of your vacation you have to sell it to them during the business year. Come May 31st you'll lose it if you haven't taken it. As someone pointed out if you haven't scheduled it they will for you. You're required, or at least used to be, to take two weeks of vacation. Anything above that you may sell back if they are offering to do that. You can't sell back personal days or floating holidays.

 

[Fred's Myth]

Personal, floaters and vacation you’ll lose. You CAN sell back vacation though but not the other two. If you don’t sell it back they will schedule it for you. They might also schedule your floaters and personals. You will get paid for your sick time most likely in June.

According to the Sr. Mgr. here, money is budgeted quarterly for vacation buybacks, and if there’s no money left in the budget there’s no more buybacks that quarter. Last quarter of the fiscal year is use it or lose it if that budget is depleted.
Something to keep in mind.

 

[McFeely]

First year with FedEx you won’t be able to sell any vacation. Only those with 10+ years.

Sick time payout happens Jun/July but a lot of the people who started in current fiscal do not receive it. I didn’t get sick time payout in my first fiscal.

 

[SmithBarney]

Apparently you can do buybacks in Workday.. if you've been here long enough.

 

[Maui]

First year with FedEx you won’t be able to sell any vacation. Only those with 10+ years.

Sick time payout happens Jun/July but a lot of the people who started in current fiscal do not receive it. I didn’t get sick time payout in my first fiscal.

This is correct. You can’t sell vacation until 10 years by policy. When selling vacation it must be in the budget. Budgets are finalized by mid-month for the following month. So if you are eligible, then you’d want to let the manager know by the 15th for May so the senior can get it into the budget and approved.

I can’t remember the exact date, but your qualification for the MAP (sick) “bonus” is set early in the fiscal year. If you weren’t employed then you’re not eligible and forfeit even sick time.

If you started after June 1 then you wouldn’t have any vacation this FY.

Right now there are no consequences for taking time and using your PTO. I’d recommend finding out what you have and taking the days. They can NOT be denied at this time.

 

[McFeely]

Right now there are no consequences for taking time and using your PTO. I’d recommend finding out what you have and taking the days. They can NOT be denied at this time.

Not sure if this was posted here or not...

 

[Cactus]

Not sure if this was posted here or not...

View attachment 290272

Use for toilet paper.

 

[vantexan]

First year with FedEx you won’t be able to sell any vacation. Only those with 10+ years.

Sick time payout happens Jun/July but a lot of the people who started in current fiscal do not receive it. I didn’t get sick time payout in my first fiscal.

I used to sell one week after getting my three weeks at 5 years. Have they changed that? Policy was you must take two weeks.

 

[McFeely]

You might be right van, I think the requirement is to keep 2 weeks. It’s the split weeks you have to wait until 10 years maybe.

The OP still can’t sell anything though in their first year.