I know PTO days used to be paid out if not used, but something tells me this policy has changed?
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I was paid for accrued vacation days because it was april. I think if you have a ton in December it’s considered and loss.
they'll pay for unused purchased days but thats it
They don't have to pay you. My old company didn't after I my termination so I file with the state for time owed. The state will research then possibly go to court which I'm hoping for no matter the outcome. It'll be documented in a state filing.
Same boat here, laid off in October. This policy change was well thought out as only very few states requires companies to pay, and I remember they went over the list during the separation meeting and of course I don't remember that entirely, only thing is that my state was not there, so I lost 10 unused vacation days.
States that generally require payout of unused vacation time (from Gemini):
- California: Vacation time is considered wages and cannot be forfeited.
- Colorado: Similar to California, "use-it-or-lose-it" policies are prohibited.
- Illinois: Requires payout of accrued, unused paid leave.
- Indiana: Vacation pay is seen as deferred compensation, like wages.
- Louisiana: Earned vacation time is considered wages.
- Maine: Earned vacation time is considered wages, with some exceptions.
- Nebraska: Accrued vacation is a fringe benefit considered wages.
- New Hampshire: Requires payout of earned but unused vacation time.
- North Dakota: Requires payout of unused vacation time upon termination.
- Rhode Island: Requires employers to pay accrued vacation time.
- West Virginia: Requires payout of accrued vacation time.
- Wyoming: Requires employers to pay out unused vacation time.
As you can see, most of BNY workforce is in NJ, NY, PA and FL and none requires unused vacations to paid at the time of separation.
When I was laid off in December, all my unused time off went out the window. It was not paid out. I was told the policy had changed on jan 1st 2024. BNY is the only company that does not pay pto now in financial industry
: @av+1jk69de3z - well not sure what rock you’ve been under but you cant “hoard” PTO. You use it or lose it mr sensitivity/know it all. And obviously being laid off wants to account for anything they can use while between jobs. What an a-hole
I guarantee 42 wouldn’t be so mouthy in person.
Oh, absolutely. Nothing says “I’m totally winning at life” like spending your time commenting on someone else’s misery while claiming you're above it all. Truly, your ability to spot “losers” from your high tower of self-reflection is nothing short of inspirational. I mean, who else could take time out of their obviously perfect day to remind us all how much better they are? You've really cracked the code on living your best life, haven’t you?
@av+1jk69de3z Wow show me someone is a loser without showing me someone is a loser…to write out such an answer clearly depicts a misery of a person. To even have a clear minute to stop and answer as such..seems like you need to evaluate yourself
The age-old question: will I get paid out for my unused PTO if I'm laid off? Because, clearly, the most important thing to worry about when you're being shown the door is whether or not you'll get a few extra bucks for the vacation days you never got to take. I mean, who needs things like "job security" or "a sense of purpose" when you can have a payout for your unused PTO?
And wow, you're really going out on a limb with that question, aren't you? "Something tells me this policy has changed?" Oh, I don't know, maybe it's the fact that companies are always looking for ways to cheat their employees and save a buck? Or maybe it's just your intuition as a highly attuned and perceptive corporate drone?
Let me guess: you've been diligently hoarding your PTO days for years, just waiting for the perfect moment to cash them in. And now that the layoff axe is looming, you're frantically wondering if you'll get to keep all those precious days. Newsflash: if you're getting laid off, the company doesn't care about your PTO. They care about saving money and getting rid of dead weight (i.e., you). So go ahead and hold your breath waiting for that payout. I'm sure it'll be worth it.
No, not anymore.
It was changed last year to NOT pay off unused vacations, unless you live in a state that requires that.