NEW! 8 Hours of Administrative Pay
To further assist employees, all affected employees will automatically receive 8 hours of administrative pay at their regular pay rate (prorated if part-time). Administrative pay does not count against an employee's Paid Time Off (PTO) balance. No action is required. This will be automatically administered by Payroll. Here's how:
- ALL affected employees will receive this admin pay whether or not they have selected the PTO payout described below. This administrative pay will be paid out on October 14 at their regular pay rate in the same method as the employee's paycheck. NOTE: The 8 hours of administrative pay will be centrally funded for grant-funded employees only if the grant will not pay it. All other departments should have the funds in their current budget to cover the one-time payouts of both PTO and administrative pay.
- If needed, Payroll will automatically reduce the amount of PTO the employee requested to be paid out to stay below the maximum payout amount of 80 hours.
- If the employee requested less than 80 hours of PTO to be paid out, Payroll will automatically pay the requested PTO hours PLUS the 8 hours of administrative pay, not to exceed a total payout of 80 hours.
Paid Time Off (PTO) Payout
To help affected OU employees bridge the gap in pay when they transition from the monthly to the biweekly pay schedule, departments may offer employees a one-time payout of up to 80 hours of paid time off, prorated for FTE. (UPDATED: The maximum PTO payout is changed to 72 hours of PTO, to account for the 8 hours of administrative pay described above. Payroll will automatically make needed adjustments.)
- DEADLINE! Employees must submit the selection form to their department by August 26.
- All affected employees must complete the form in a department that is providing this option whether or not they plan to convert PTO.
- Departments must submit the form to Payroll & Employee Services by September 9.
- Employees may convert up to 80 hours of Paid Time Off (PTO).
- Employees may convert only PTO accrued by September 30, 2016.
- Funds from the paid leave payout are issued on October 14 by the same method as the employee's paycheck.
- Paid leave can only be converted in 1-hour increments.
- This option is not centrally funded and, if offered, should be made available to all affected employees in a department.
- This option is available for an employee's own PTO. Extended Sick Leave (ESL) and PTO belonging to other employees is not included.