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How much would you need to be paid not to use your vacation days?
Posted on 4/21/25 at 10:49 am
Posted on 4/21/25 at 10:49 am
quote:
When the state of California paid prison supervising dentist George Soohoo $1.2 million last year, it wasn't for a job well done. It was for vacation never taken.
Soohoo joined the rare club of state employee millionaires by cashing out thousands of hours of unused time off when he retired, setting a new record for the payouts. He topped a list of nearly 1,000 workers who left state service last year with $100,0000 or more in banked leave benefits, a Los Angeles Times analysis
quote:
Over the past six years, the number of retirees paid at least $250,000 in banked vacation time increased nearly fivefold to 73 employees last year.
The rising liability stems from generous time-off provisions for state employees — including vacation accrual of up to six weeks a year, 11 state holidays, a personal holiday and professional development days
quote:
The data showed state employees had 110 million hours of leave on the books as of December, although 40 million of those were sick leave and educational leave time that can't be cashed out when workers retire or otherwise leave state employment. Those unused hours can, however, be converted to service credit to increase their government pensions.
"There's no parallel to this in the private sector," said Jon Coupal, president of the Howard Jarvis Taxpayers Assn. "Obviously this is a problem."
Last year, the 10 employees with the largest vacation payouts in California took home a combined $5.3 million. For those retirees, the time paid out was the equivalent of taking a year or more of vacation. In the case of California Department of Forestry and Fire Protection Assistant Chief Kirk Barnett, his vacation payout of $578,000 last year was worth three years of his salary
six weeks of vacation time + 12 holidays
Even if you take a week off each year, bank 5 weeks a year for 25 years, is serious money. The one guy with days from 1992, he's not getting his '92 pay for those days, he's getting his 2025 pay rate.
Posted on 4/21/25 at 10:53 am to TigerintheNO
During open enrollment every year, our company allows you to sell back PTO for the next year (or buy more) within a limit at a rate equivalent to your salary.
I always sell back the max and roll it into my investment account.
I always sell back the max and roll it into my investment account.
Posted on 4/21/25 at 10:54 am to TigerintheNO
I had a job where you could buy or sell one week at open enrollment. I sold a week every year, just for the value of the paycheck. Why, you ask?
Because I found out in my first year the week of Christmas was always a cakewalk and we were sent home anyway lol.
Because I found out in my first year the week of Christmas was always a cakewalk and we were sent home anyway lol.
Posted on 4/21/25 at 10:54 am to TigerintheNO
My company requires employees to take their vacation or lose it.
They insisted on work/ life balance.
They insisted on work/ life balance.
Posted on 4/21/25 at 10:54 am to TigerintheNO
quote:
paid prison supervising dentist George Soohoo $1.2 million last year, it wasn't for a job well done. It was for vacation never taken.
I'd take a little less than that.
Posted on 4/21/25 at 10:56 am to TigerintheNO
I get 5 weeks PTO plus firm holidays but we can only roll over a certain amount.
When I left my last firm I took a month off, getting what was equivalent to an extra paycheck from PTO payout plus signing bonus made that decision a lot easier, I was never not paid even though I wasn’t working.
When I left my last firm I took a month off, getting what was equivalent to an extra paycheck from PTO payout plus signing bonus made that decision a lot easier, I was never not paid even though I wasn’t working.
Posted on 4/21/25 at 10:58 am to TigerintheNO
Government workers use vacation days for things like doctor visits. If you use sick time you will lose any overtime you worked that pay period.
Posted on 4/21/25 at 11:01 am to TigerintheNO
This is stupid....the employees are getting the paid vacation time regardless of when they take it.
Posted on 4/21/25 at 11:15 am to TigerintheNO
I've been wishing they would buy mine back for years.
I get 20 PTO days on top of 11 Holidays.
Usually by December I have to take half the month off just so I don't lose them. I'd take just normal pay for mine
I get 20 PTO days on top of 11 Holidays.
Usually by December I have to take half the month off just so I don't lose them. I'd take just normal pay for mine
Posted on 4/21/25 at 11:16 am to TigerintheNO
Mine is capped at 240 hours each year. You then lose it. I accrue 9.8 hours per pay period. They want us using it.
Posted on 4/21/25 at 11:17 am to TigerintheNO
I was allowed to sell vacation time back to a previous employer, and I sold a week every couple of years.
I didn’t make as much back then, and an extra half paycheck was nice to have, especially around the holidays.
I didn’t make as much back then, and an extra half paycheck was nice to have, especially around the holidays.
This post was edited on 4/21/25 at 11:18 am
Posted on 4/21/25 at 11:18 am to St Augustine
I'd rather more vacation days than money from unused. So, $0 for me. I'm going to enjoy my vacations much more now in my early 40s than when I'm 65-80.
Posted on 4/21/25 at 11:18 am to TigerintheNO
A lot. I don't live to work. I enjoy the frick out of my vacation days and rarely have any that isn't able to roll over to the next year.
Posted on 4/21/25 at 11:19 am to TigerintheNO
That’s just mismanagement on Cali’s part. They could avoid these lump sums with some simple policies that most companies follow.
Instead they let this happen and have to deal with the lump-sum payments.
Instead they let this happen and have to deal with the lump-sum payments.
Posted on 4/21/25 at 11:23 am to Slingscode
quote:
My company requires employees to take their vacation or lose it. They insisted on work/ life balance.
I’ve worked for companies that do that as well, except there were times you couldn’t call in PTO, then of the select times it was ok they would regulate how many people could take off. So you technically could not take off and you’d just lose your PTO.
They also referred to employees as “family” and would ask you to sacrifice time with your actual family to do things for your (work) “family” including lots of extended hours for no extra pay.
Posted on 4/21/25 at 11:24 am to TigerintheNO
My company does FTO for that very reason. I take what I’m approved to take every year. If I take none, I receive no benefit.
Posted on 4/21/25 at 11:31 am to MyRockstarComplex
Yeah, typically the companies that enforce use it or lose it policies aren’t for a work life balance. It’s to prevent growing liabilities ledger.
Posted on 4/21/25 at 11:31 am to TigerintheNO
If I work a day my company is charging a client $253/per hour for my time. I'd take that amount for about half the PTO I accrue in a year. The other half isn't for sale.
Posted on 4/21/25 at 11:33 am to TigerintheNO
Currently get between 25-30k per week to sell depending on time of year.
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