Cash In Your Extra PTO—Sign Up by Dec. 31!
As a Carilion employee, you earn PTO that can be used to take time away from work for vacations, sick days and holidays—you also have the opportunity to cash in some of your PTO each year.
The cash-in registration period for 2025 will be Sunday, Dec. 1 – Tuesday, Dec. 31, 2024, in My Total Access. After the registration period, you won't be able to sign up to cash in any of your 2025 PTO.
Is PTO Cash-In for Me?
If you can say "yes" to all of these statements, then you are eligible to cash in PTO for 2025:
- As of Nov. 8, 2024, you had at least 80 hours of PTO.
- You want to cash in between eight and 40 hours of PTO for one or both of the cash-in periods (Friday, May 9 and Friday, Nov. 7).
- During each cash-in period, you will have at least 80 hours of PTO remaining after you cash in your amount.
- You will not cash in more PTO hours than you estimate you will earn in 2025.
Note: Be sure to estimate how much PTO you will use over the next few months, including any planned vacations, holidays when your office is closed or days you may be out sick to get your estimated PTO balance.
Use the PTO cash-in worksheet to help determine the amount of PTO to cash in for 2025.
More About PTO Cash-In
To comply with Internal Revenue Service guidance, you must designate the amount of PTO you intend to cash in during the year before you receive it. In other words, if you want to cash in 80 hours of PTO in 2025, you will designate those hours in 2024 during the PTO cash-in registration period.
Social Security, federal and state taxes will be withheld at your current withholding elections.
Your PTO cash-in is treated the same as your regular pay; any deductions you have, such as the retirement savings plan, apply to your PTO.
Once you make your election, you may not change it.
Sunday, Dec. 1 – Tuesday, Dec. 31, 2024, is your only opportunity to sign up for PTO cash-in for 2025. There are no exceptions to these dates.
If you have questions or requests, please submit them through the Jira portal: https://jsd.carilionclinic.org/payroll.
The 2025 PTO cash-in period is Sunday, Dec. 1 – Tuesday, Dec. 31, 2024, in My Total Access.
If you had at least 80 hours of PTO as of Friday, Nov. 8, 2024, you can cash in PTO for 2025.
You may cash in up to 40 hours in 2025 on Friday, May 9 and Friday, Nov. 7, unless you have a negative balance or if cashing in the PTO leaves you with a negative balance.
