Let’s say I have 25 days of vacation and I quit tomorrow. For 401k Vesting or pension vesting purposes - will my last day be recorded as tomorrow or sometime early November with all those vacation days? Thanks!
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Your last day on the payroll should be based on the resignation letter date you tell them you’re done. I resigned and walked with several weeks of vacation remaining. My termination date was the date I walked and I was given a lump sum check later for the outstanding vacation. You’ll need to take any floating holidays and comp time ahead of resignation as they are not guaranteed.
Ask H-freaking-R, this is a simple policy question, you can probably search in the intranet for this, no need to occupy collective bandwidth for trivialities
Thank y’all. It is not related to PIP but I think the same rules apply, they pay vacation but your last day is your last day, and overlapping jobs is probably against some rule in the employee handbook. I personally have a few weeks only to bridge to 401k vesting but also don’t want to do something against the rules here or at a potential new company like have 2 jobs for a month while “on vacation” at Exxon for a whole month while 401k vests. It’s my understanding that the service accrual works only if you’re on “official vacation” vs. pay in lieu vacation where you tell them ahead of time what’s up. If anybody has additional thoughts I’d appreciate them. I doubt HR will agree to anything and it could even cause potential firing for exploring it with them so not worth it.
If you elect PIL or change from PIP to PIL then your last day on payroll is the end date on your PIP. At that time you will receive your last paycheck and pay for an unused vacation. The unused vacation does not extend your last day of employment.
Do note, vacation days are not guaranteed. You can request to your supervisor those days and he can reject them..
I wish we could delete our comments, I didn't read the original question correctly. Sorry!
I believe it is your choice...you can be on vacation for those 25 work days and stay on payroll until sometime in November, or you can make your last day be tomorrow and get paid in-lieu-of for those 25 days.
Does anybody know how it would work if you overlap jobs for a few weeks? Can that be an issue if you’re doing the weeks of vacation at XOM and then before those are over you start a new job? ( like you’d still have your XOM laptop while starting a new job) Are there any issues or legalities there I might not be aware of? Thanks!
It is based on last day on payroll. So if you quit tomorrow, then tomorrow is the date used. If you take 5 weeks vacation, then quit, it will be the date in 5 weeks.