The PTO Cash-in/Donation Request form is now live and the deadline to cash-in is Wednesday, Oct. 30. Team members can cash in up to 20 hours of PTO. For those looking to make a broader impact, you can donate some or all of your cashed-in hours to the Team Member Emergency Fund, which supports fellow team members affected by recent flooding. By donating, you can help provide much-needed relief to colleagues who are facing difficult circumstances.
Here are the details about this year’s PTO cash-in opportunity:
- A team member can cash in up to 20 hours from their regular PTO bank. Team members may also choose to donate up to 10 additional hours to the Team Member Emergency Fund to support flood relief and other critical needs, for a total of 30 hours.
- You may choose to cash in fewer hours (less than 20) and donate more hours to the Team Member Emergency Fund. (For example, you can choose to cash in 15 hours and donate 15 hours or donate all 30 hours to the Team Member Emergency Fund and forgo receiving a PTO cash-in).
- You may choose to split up your first 20 cashed-in hours however you like, but any hours over 20 are required to be donated to the Team Member Emergency Fund.
- All hours will be treated as income and taxed accordingly. For any hours donated to the Team Member Emergency Fund, the foundation will provide documentation that can be used to support a charitable donation of the amount contributed.
- You must maintain at least 20 hours in your PTO bank after deducting cash-in and donated hours. If you do not have enough hours in your PTO bank to cover the cash-in and donation and maintain a balance of 20 hours, the hours will be deducted from your frozen personal bank.
- You can view your plan balances in the HR & Payroll Service Center by clicking on the PTO Balance icon on the home page.
- You can have your PTO cash-in rolled into your health savings account (HSA) or Lincoln retirement account.
- The request form is now active, and will remain posted until Wednesday, Oct. 30, 2024, at 5 p.m. (no exceptions to the time frame).
- Foundation donations will be processed and donated on Nov. 12, PTO cash-in requests will be processed and paid out on the check dated Nov. 22. HSA and retirement plan rollovers will be processed on the Nov. 26, demand check run.
After the first pay period in January 2025 closes, we will move any remaining PTO hours above 100 to a frozen bank. You do not lose the value of these hours; they are available to you if you exhaust your PTO bank or upon retirement or termination. These hours shift from one bank to another on or around Thursday, Jan. 16, 2025. You can monitor your balances anytime from the HR Payroll & Service Center.
If you have any questions, please contact HR4U at hr4u@balladhealth.org.
You can access the PTO Cash-in Request Form using this link.
