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I am a salaried employee with 91/2 years. Entitled to 3 weeks vacation. I am retiring at the end of this month, March 28. Am I entitled to the 3 weeks vacation pay, or can I take them before or after March 28. Thank you.
Vacation pay is typically accrued throughout the year as a percentage of your annual or hourly wage. The accrued amount is deposited into a vacation bank, which is used to pay employees during their vacation time.
If you take three weeks of vacation without having accrued the full amount, your vacation bank may show a negative balance, and you could be required to repay a portion upon retirement.
However, if you have accrued three weeks of vacation, you may request to use some of that time before your retirement. Alternatively, your employer should credit you for the accrued amount at the time of retirement and include it in your final payout.
If you take three weeks of vacation without having accrued the full amount, your vacation bank may show a negative balance, and you could be required to repay a portion upon retirement.
However, if you have accrued three weeks of vacation, you may request to use some of that time before your retirement. Alternatively, your employer should credit you for the accrued amount at the time of retirement and include it in your final payout.