Vacation ‘Use it or Lose It’ deadline moves from June 30 to Dec. 31
The PeopleSoft HR/Payroll System uses a calendar year instead of a fiscal year when calculating the one year’s accrual of vacation that employees can carry over into the next year. This means that even if your balance is more than a year’s accrual, you will not lose any at the end of June.
Since the PeopleSoft pay statements only show year-to-date information for vacation and sick leave balances and do not provide what used to be termed “excess vacation” balances (the number of hours that had to be used by June 30 of each year to avoid being lost), HR is working to create a tool to post on the HR website so employees can calculate how many hours of vacation they must use by Dec. 31 to avoid losing any. An e-nnouncement will be posted in the next several weeks with the link to this tool.
Beginning in July, supervisors will begin receiving quarterly vacation and sick leave reports with employees‚ monthly accruals, YTD earned, YTD used, and current balances.