Are you curious about whether Arizona State University (ASU) pays out vacation time? If so, you’ve come to the right place! In this article, we’ll explore the ins and outs of ASU’s vacation policy and answer this important question.
Understanding ASU’s Vacation Policy
ASU is a public research university that offers a variety of benefits to its employees. One of these benefits is paid time off, which includes vacation time. According to ASU’s Human Resources website, full-time employees accrue vacation time based on their length of service and number of hours worked per pay period.
Accrual Rates
Here are the accrual rates for full-time employees:
- Less than 3 years of service: 13.33 hours per month
- 3 to 5 years of service: 15.33 hours per month
- 5 to 10 years of service: 16.00 hours per month
- More than 10 years of service: 18.67 hours per month
It’s worth noting that part-time employees also accrue vacation time, but at a reduced rate based on their percentage of full-time employment.
Payout Policy
Now let’s get to the heart of the matter – does ASU pay out vacation time? The answer is yes! When an employee leaves ASU due to retirement, resignation, or termination, they are entitled to receive a payout for any unused vacation time they have accrued.
However, there are some important caveats to keep in mind. First, if an employee is terminated for cause (i.e.
fired), they will not receive a payout for unused vacation time. Second, if an employee retires from ASU and begins working for another employer in the Arizona State Retirement System (ASRS), they will need to transfer their unused vacation time to their new employer rather than receiving a payout.
Conclusion
In summary, ASU does pay out vacation time to employees who leave the university due to retirement, resignation, or termination (with the exception of termination for cause). It’s important to keep track of your accrued vacation time and plan accordingly if you know you’ll be leaving ASU in the future.
We hope this article has answered your questions about ASU’s vacation policy. If you have any additional questions or concerns, we recommend reaching out to ASU’s Human Resources department for further assistance.