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Changes in store for ETO cash-out

The temporarily expanded accruals have expired, but a new process allows for larger and more frequent cash-outs in 2023.

In 2021, Asante temporarily lifted the cap on how much earned time off full- and part-time employees could save up annually. That arrangement expired on Sept. 10, but in 2023, employees will benefit in a different way with new ETO cash-out rules.

Beginning on Jan. 1, full- and part-time employees (referred to as “regular-status” employees) can convert their ETO hours to cash four times a year instead of the previous two times a year and cash out larger amounts. This enhanced policy was based on feedback from a recent survey of 500 employees conducted by Asante’s Employee Retention Committee.

Employees must make this election during open enrollment, which takes place Nov. 1–15.

Under the updated policy, regular-status employees budgeted at 72 hours or more per pay period may elect to convert up to 75 hours in pay periods 7, 13, 19 or 24 for a total of 300 hours. This is up from the previous annual allotment of 60 hours twice-yearly, or 120 hours.

Likewise, employees budgeted at 40 to 71 hours per pay period can convert up to 40 hours of ETO in the pay periods cited above, or a total of 160 hours. This is increased from 30 hours twice-yearly or 60 hours total.

For both full- and part-time employees, the cash-outs can’t exceed the employee’s annual maximum accrual.

The revised policy is part of Asante’s sweeping systemwide effort to retain valued employees.

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3 Comments. Leave new

  • What seems to be missing from this article is the employee’s maximum annual accrual in hours. Would you mind sharing?

    Reply
    • Tom Starkenburg
      September 14, 2022 1:32 pm

      Refer to Asante Document number: 400-CORP-HR-0110 (12/2020) in Policies & Procedures.
      It breaks down hourly accruals and maximums based on years of service.

      Reply
    • Hi Maria,
      As Tom mentioned, the Asante Earned Time Off Policy (400-CORP-HR-0110) has additional details regarding ETO accrual amounts. That policy can be found on myAsanteNET under Policy and Procedures, and you can search by the policy number. If you have any additional questions, please feel free to contact HR by calling 541-789-4243.

      Reply

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