What is Banked Leave?

The annual leave conversion process for University Staff is happening! During this time, eligible employees can roll unused Vacation into Banked Leave. Banked Leave is protected Vacation which means you can never lose it, it carries over from year to year, and you can use it at any time if you run out of other leave. If you ever leave state service your Banked Leave is all paid out at the rate you are earning upon separation. Unless you’re planning on using all Vacation by the end of the year it’s to your benefit to convert it to Banked Leave.

Your eligibility to convert Vacation to Banked Leave is based on the amount of Allocated Vacation that you have in the year or the amount of Sick Leave that you had at the end of the year (see the table below for more info). Employees who are eligible to convert received notification and instructions in November.

Banked Leave Conversion Eligibility
Allocated Leave Hours Conversion Amount Eligible for Payout
At least 520 hours of sick leave 40 0
At least 160 annual vacation hours 40 0
At least 200 annual vacation hours 80 40
At least 216 annual vacation hours 120 40

The Allocated Vacation hours for University Staff are based on years of state service and the employee’s FLSA status – whether the employee is exempt (“salaried”) or non-exempt (“hourly”).

Years of Continuous Service Annual Vacation Allocation
Non-Exempt “Hourly” Exempt “Salaried”
During First 5 Years 104 120
5+ to 10 Years 144 160
10+ to 15 Years 160 176
15+ to 20 Years 184 200
20+ to 25 Years 200 216
25+ Years 216 216