PTO Cash In

We offer you the opportunity to cash in your Paid Time Off (PTO) three times a year. To comply with Internal Revenue Service (IRS) guidance, if you want to cash in PTO hours, you must designate the amount of PTO you will cash in the year preceding the year in which you will earn it. For example, if you want to cash in 80 hours of PTO in 2020, you must designate those hours in 2019.

The 2020 PTO cash-in payout dates are March 6, July10 and Nov. 13 (the cash-in amount will be in your paycheck). You may cash in up to 40 hours on each date. Use the PTO Cash-In worksheet to help you determine the amount of PTO to cash in for 2020.

How to Cash In PTO:

• Log in to MyTotalAccess between Sunday, Dec. 1 and Tuesday, Dec. 31.
• After you log in, choose Employee Self Service, Pay and then PTO Cash In Election from the menu.
• Check the box for the number of hours you want to cash in for payout each date.
• Once you have made your elections, click Update to submit them.
• After you have submitted your elections, click Print. Keep a copy of your PTO cash-in elections for your records.

About PTO Cash In:

• To comply with Internal Revenue Service guidance, you must designate the amount of PTO you want to cash in the year before you receive it. (In other words, if you want to cash in 80 hours of PTO in 2020, you will designate those hours in 2019 during the PTO cash-in registration period.)
• You may cash in up to 40 hours each cash-in period. You should have an estimated 80 hours remaining after hours are cashed in. You can not cash-in more PTO than you are estimated to earn.
• 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. Therefore, any deductions you have, such as the retirement savings plan, apply to your PTO.
• Once you make your election, you may not change it.
• Dec. 1-31, 2019 is your only opportunity to sign up for PTO cash in for 2020. There are no exceptions to these dates.

If you have questions, contact Payroll at 540-224-5039 (55039).