December 2019 eNewsletter: PTO Sell

Important things to know about selling Paid Time Off (PTO)

As holidays approach and you consider travel and gift expenses, selling PTO might be something to think about.  

Selling PTO
PTO cannot be sold on the last paycheck of the year. The deadline to submit a request to sell PTO online through is December 6th. Here are some other things to know about selling PTO:

  • You may sell PTO two times a year, up to an annual total of 80 hours
  • You must maintain at least 80 hours of PTO after the sale.
  • You may sell a maximum of 80 hours per year.
  • Due to IRS regulations, the combined amount of PTO you convert, sell, and donate must be less than 100 hours per year.
  • When you sell PTO, you will receive 80% of the value of your sold PTO hours as a cash payment and will be subject to applicable payroll taxes and 401(k) deductions (if you are enrolled in the 401(k) Plan).