Intermountain’s PTO cash out program allows you to convert your accrued PTO hours into cash. You must make your PTO cash out election the year prior, and it’s an irrevocable election. If you want to participate in 2021, you’ll need to make your PTO cash out election in Workday during open enrollment, which is November 18 through December 4. You won’t be able to elect PTO cash out at 100 percent for 2021 after December 4. If you forget to make a PTO cash out election during open enrollment, eligible caregivers may choose to cash out PTO next year at 85 percent of current pay.
The eligibility for PTO cash out is changing. For 2021, everyone is eligible to elect a PTO cash out regardless of their years of service. To qualify to elect a PTO cash out, you must have a PTO balance of 160 hours or more at the start of open enrollment. You’ll have the option to decide a cash out of 20, 40, 60, or 80 hours.
If you elect, you can choose to cash out PTO from your PTO cash out bucket at any time during 2021 and request it in one-hour increments. This gives you more flexibility over your PTO cash out hours.