Voluntary VAC Cash-Out Deadline Approaching
OHSU has emailed an expanded version of the below information to all employees represented by AFSCME Local 328; please refer to that Dec. 9 email for details, including a link to a calculator to help you estimate your 2023 VAC accruals.
Each year, our contract allows for the voluntary cash-out of unused comp time and up to 80 hours of vacation accruals earned during the following year. The hours you request for cash-out will be held in a separate bank and won’t be able to be used for vacation/time off. Cash-out requests are paid in pay period 12 (June) or 25 (December) of the following year.
You must meet all of the following criteria to be eligible to receive a vacation cash-out:
Have at least 120 VAC hours in your bank by the end of 2022 (per your Dec. 13 pay stub)
Be working in an eligible Local 328 position on the date of payment
Accrue eligible VAC hours in 2023
Cash-out requests for 2023 must be submitted by Saturday, Dec. 31. (If you make a cash-out request and change your mind, you must cancel it by Dec. 31.)
Voluntary VAC cash-out requests are now submitted online, through Oracle Employee Self Service. You’ll need to be connected to the OHSU network (either on-site or remotely using the VPN) or access the system via Citrix. To access Employee Self Service, click the Oracle/AIS icon under Shortcuts on O2; to make your cash-out request, click the Elect Accrual Cash Out option and follow the steps.
12.6.3 Voluntary cashout. Employees will be afforded the opportunity to request cash out of accrued but unused vacation and compensatory leave hours annually.
Requested cashout hours must be accrued and paid in the calendar year following the request, and employees must have one hundred twenty (120) hours of vacation accrued on December 31st of the year in which the request is submitted to be eligible for the cashout in the subsequent year. Unless otherwise communicated, the two cashout dates each year when the elected hours may be paid will be pay period 12 and pay period 25.
a. The cashout election is irrevocable. The employee must elect which one of the two cashout dates designated by the Employer when payment will be made. Hours designated for cashout will not be available for vacation use. When an employee requests a voluntary cashout, the first hours of vacation matching the employee’s request for cashout that the employee accrues in the following calendar year will be held in a separate bank and be unavailable to use for any paid time off. The hours will be converted to cash at the base pay rate in effect on the employee’s primary assignment at the time cashout occurs.
b. The maximum cashout of vacation time allowed for each calendar year period is eighty (80) hours.