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ONE TIME ONLY - Accrued Vacation/Holiday Hours Buy Back Opportunity

posted Jun 29, 2015, 11:19 AM by Wasiewicz, Mark   [ updated Jun 29, 2015, 11:31 AM ]
What is the ONE TIME  ONLY - Accrued Vacation/Holiday Hours Buy Back Opportunity?

STEL is offering to "buy back" accrued vacation and holiday hours from staff members whose accrued balances are in excess of 150 and 24 hours respectively as of the stated benefit hours amount on the June 25th pay stub.

Example #1: A staff member's vacation balance is 170 hours, he/she would be eligible to "sell back" up to 20 hours to STEL.

 170 accrued vacation hours
-150 
---------------
20 hours total "sell back"

Example #2: A staff member's vacation balance is 170 hour and holiday balance is 32 hours, he/she would be eligible to "sell back" up to 32 hour to STEL.

 170 accrued vacation hours
-150
--------------
20 excess hours

 32 accrued holiday hours
-24 
-------------
 8 excess hours

  20 excess vacation hours
+ 8  excess holiday hours
-------------
  28 hours total "sell back"


Why is this opportunity being offered only one time?

STEL is offering this opportunity in an effort to lower it's outstanding liabilities on our financial reports. This is a ONE TIME ONLY OPPORTUNITY and there are NO PLANS to provide this opportunity again in the future. 

How do I participate in this opportunity?

Complete the request form located below. FAX or mail this form to STEL's Accounting Department by the deadline date.

When does my opportunity request form need to be submitted? 

Request forms need to by submitted to the Accounting Department no later than Friday, July 10th.

If I qualify for the ONE TIME ONLY - Accrued Vacation/Holiday Hours Buy Back Opportunity when will I receive the check? 

The funds will be paid in the July 23rd paycheck. If you have direct deposit your funds will be automatically direct deposited.

If I have a question about this opportunity who should I contact?

Contact Amber Hubbard at hubbarda@stel.org or 716-366-7792 x220 or Mark Wasiewicz at wasiewiczm@stel.org or 716-366-7792 x212.

Ċ
Wasiewicz, Mark,
Jun 29, 2015, 11:19 AM