Professional and Career Service Staff - Full-time staff members who have more than 44 unused vacation days at the end of any calendar year will automatically receive payment for up to five (5) unused vacation days by the end of January of the following year. To receive the maximum vacation day payout a staff member needs to have a minimum of 49 unused vacation days as of December 31st of each year. Vacation leave is cumulative up to the maximum number of days as outlined above.
Administrators:
Unused vacation days as of December 31 of each year, in excess of 44 up to 51, will automatically roll into the Bencor National Plan (401(a) qualified retirement plan) for administrators
Additional unused vacation days after 51 days, up to a maximum of 10 unused vacation days will automatically be paid to the employee by the end of January of the following year. To receive the maximum vacation day payout a staff member needs to have a minimum of 61 unused vacation days as of December 31st of each year.
Executives:
Unused vacation days in excess of 70 days up to 85 days will automatically roll into the Bencor National Plan (401(a) qualified retirement plan) for administrators
Additional unused vacation days in excess of 85, up to a maximum of 100 unused vacation days, will automatically be paid to the employee at full value by the end of December. To receive the maximum vacation day payout a staff member needs to have a minimum of 100 unused vacation days as of December 31st of each year.
The following applies to all employees:
If the monies received for payment of maximum days accrued at termination or, if elected, upon DROP enrollment, are in excess of $25,000, it is mandatory that the College deposit the monies into the Bencor National Plan (401(a) qualified retirement plan on behalf of all executives, administrators and institutional support staff (faculty excluded).
In case of death, such pay shall be paid to the employee’s beneficiary, estate, or as provided by law and/or current College policy.
Vacation payout is subject to Florida Retirement System Employee and Employer contributions up to the maximum amount as directed by the Florida Retirement System