Year-end adjustment coming for Medical Center FlexPTO planApr. 23, 2015, 8:55 AM
Vanderbilt University Medical Center staff covered under the FlexPTO (Flexible Paid Time Off) policy will have up to 40 hours of accrued, unused FlexPTO time transferred to their grandfathered sick bank.
The amount transferred will be based on the remaining balance in the employee’s account at the close of the current fiscal year on June 30. Once transferred, the time will be available to use starting in August.
The Medical Center now follows a plan where accrued FlexPTO time must be used by the end of a fiscal year or it will not carry forward.
However, the decision was made by Medical Center leaders to adjust this approach during this transitional year for the FlexPTO plan given the balances many staff carried forward from fiscal year 2014 into this year. The days transferred forward can be used according to current grandfathered sick policy, including any future time necessary to cover days before short-term disability goes into effect.
“The opportunity for staff to carry forward this leave time allows us to recognize their dedication and support throughout another very busy year,” said Marilyn Dubree, MSN, R.N., Executive Chief Nursing Officer.
“This commitment to our success has, for some, meant not asking for or being able to receive the days off they most desired. We hope this helps everyone who put VUMC first know how much we value their efforts.”
“Some staff held back a portion of their FlexPTO to cover the two-week waiting period for short-term disability in the event of a personal or family emergency. Being able to carry this portion of their accrued, unused time forward into the new fiscal year allows these individuals to continue to reserve a portion of their grandfathered sick time for an emergency,” said Traci Nordberg, Chief Human Resources Officer.
The Medical Center will also finalize the 50 percent cash-out of any fiscal year 2014 vacation time that was carried over but not used.
Those who qualify have been notified and will receive their cash-out payments in July and August depending on their pay cycle.