How to best use vacation time when quitting?

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How to best use vacation time when quitting?

Postby Anonymous User » Thu Jul 20, 2017 7:44 pm

I am leaving my job, and I work for the government. I am wondering what is the best way to take advantage of my vacation time. I can either cash it out, or maybe just use it up and be paid my regular pay when not in the office. The latter seems like the better option for me, as I believe I'd get more money, in comparison to leaving early and cashing it out. Assuming they even allow me to do that.

Also, any advice on what to do with my pension? I have only been here for a year so it can't be that much, roll it into my new job's 401k? Though I don't have access to that until after working for three years at my new firm.

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A. Nony Mouse

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Re: How to best use vacation time when quitting?

Postby A. Nony Mouse » Thu Jul 20, 2017 8:09 pm

Personally I cashed out vacation time, but I was moving and a lump sum was much more helpful. One consideration might be insurance - if you keep working but take vacation you'll be covered, if you cash out you won't.

takeseven

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Re: How to best use vacation time when quitting?

Postby takeseven » Fri Jul 21, 2017 1:37 pm

Anonymous User wrote:I am leaving my job, and I work for the government. I am wondering what is the best way to take advantage of my vacation time. I can either cash it out, or maybe just use it up and be paid my regular pay when not in the office. The latter seems like the better option for me, as I believe I'd get more money, in comparison to leaving early and cashing it out. Assuming they even allow me to do that.

Also, any advice on what to do with my pension? I have only been here for a year so it can't be that much, roll it into my new job's 401k? Though I don't have access to that until after working for three years at my new firm.


Not sure how it works in the government, but at a law firm typically being cashed out means you get paid your salary for that vacation day, so you would get paid the same as if you were working. If you want more money, I would work the full two weeks after giving notice (collecting full salary the whole time) and then get paid the extra cash for the unused vacation days.

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Re: How to best use vacation time when quitting?

Postby Anonymous User » Fri Jul 21, 2017 1:54 pm

Do you accrue vacation hours while on vacation?

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Re: How to best use vacation time when quitting?

Postby Anonymous User » Sat Jul 22, 2017 10:23 am

Anonymous User wrote:Do you accrue vacation hours while on vacation?


I don't think so? But if I did then it would make sense to give my two week notice after I came back from vacation

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Re: How to best use vacation time when quitting?

Postby Anonymous User » Sat Jul 22, 2017 10:27 am

takeseven wrote:
Anonymous User wrote:I am leaving my job, and I work for the government. I am wondering what is the best way to take advantage of my vacation time. I can either cash it out, or maybe just use it up and be paid my regular pay when not in the office. The latter seems like the better option for me, as I believe I'd get more money, in comparison to leaving early and cashing it out. Assuming they even allow me to do that.

Also, any advice on what to do with my pension? I have only been here for a year so it can't be that much, roll it into my new job's 401k? Though I don't have access to that until after working for three years at my new firm.




Not sure how it works in the government, but at a law firm typically being cashed out means you get paid your salary for that vacation day, so you would get paid the same as if you were working. If you want more money, I would work the full two weeks after giving notice (collecting full salary the whole time) and then get paid the extra cash for the unused vacation days.


Op here. The thing is, if I work extra with the two week pay period, those additional hours are used up instead of my vacation time. So if I work extra on the weekends and during the pay period of my vacation, I can take my normal pay without using my vacation time. I feel like this is my best option. But there also is the opportunity cost of ending early up work at the firm, so that I can make more money. I am just worried that as soon as I give my 2 week notice, they will just tell me to leave then.

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Re: How to best use vacation time when quitting?

Postby Leprechaun » Sat Jul 22, 2017 4:30 pm

I gave an 11 month notice myself and will be retiring August 31 from career 1. Will be retiring with over 750 sick hours and about 31 vacation days. I've been hoarding all I can in order to get a nice final payout.

Looking forward to career 2 as an Atty beginning in September.

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Re: How to best use vacation time when quitting?

Postby Anonymous User » Sun Jul 23, 2017 1:16 am

Leprechaun wrote:I gave an 11 month notice myself and will be retiring August 31 from career 1. Will be retiring with over 750 sick hours and about 31 vacation days. I've been hoarding all I can in order to get a nice final payout.

Looking forward to career 2 as an Atty beginning in September.


Congrats! You aren't able to cash out the sick days right? Also when you gave the 11 month notice, were you worried that you may possibly be shafted and told to leave sooner?

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Re: How to best use vacation time when quitting?

Postby Leprechaun » Sun Jul 23, 2017 10:33 am

Anonymous User wrote:
Leprechaun wrote:I

Congrats! You aren't able to cash out the sick days right? Also when you gave the 11 month notice, were you worried that you may possibly be shafted and told to leave sooner?


I will get paid at 1/2 rate for the unused sick time. Yes, I was very worried that they'd ask me to leave sooner as it would not only impact me but also my wife and two kids. I talked about that a lot with my wife before I made the decision to tell them. I've been employed here for over 24 years and ultimately I felt telling them was the "right" thing to do.

My employer has been good to me over those 24 years, and I felt like I owed it to them to make them aware.

Ultimately I took a chance, but everyone has to make their own decision and I very well might have made a different decision if my employer and I had not had a significant prior history together.

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Re: How to best use vacation time when quitting?

Postby Anonymous User » Sun Jul 23, 2017 3:37 pm

Leprechaun wrote:
Anonymous User wrote:
Leprechaun wrote:I

Congrats! You aren't able to cash out the sick days right? Also when you gave the 11 month notice, were you worried that you may possibly be shafted and told to leave sooner?


I will get paid at 1/2 rate for the unused sick time. Yes, I was very worried that they'd ask me to leave sooner as it would not only impact me but also my wife and two kids. I talked about that a lot with my wife before I made the decision to tell them. I've been employed here for over 24 years and ultimately I felt telling them was the "right" thing to do.

My employer has been good to me over those 24 years, and I felt like I owed it to them to make them aware.

Ultimately I took a chance, but everyone has to make their own decision and I very well might have made a different decision if my employer and I had not had a significant prior history together.


Nice, that must be company policy, since they don't normally pay for sick leave.

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Re: How to best use vacation time when quitting?

Postby elendinel » Sun Jul 23, 2017 3:44 pm

Anonymous User wrote:
takeseven wrote:Not sure how it works in the government, but at a law firm typically being cashed out means you get paid your salary for that vacation day, so you would get paid the same as if you were working. If you want more money, I would work the full two weeks after giving notice (collecting full salary the whole time) and then get paid the extra cash for the unused vacation days.


Op here. The thing is, if I work extra with the two week pay period, those additional hours are used up instead of my vacation time. So if I work extra on the weekends and during the pay period of my vacation, I can take my normal pay without using my vacation time. I feel like this is my best option. But there also is the opportunity cost of ending early up work at the firm, so that I can make more money. I am just worried that as soon as I give my 2 week notice, they will just tell me to leave then.


I don't get what you mean here; are you saying you're going to use your vacation time after you give notice, and then reduce the amount of vacation time you actually have to input/lose by working? This isn't going to really help you prevent their just asking you to leave immediately if that's their preference; it's also going to look really bad if you're technically on vacation during your two weeks, even if you're actually working during those weeks. People's last impression of you will basically be that you tried to game the system (they'll either figure out you tried to get asked to leave early to get more $$, or thay'll figure you purposefully took vacation during that time to try and avoid doing any work before you left).

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Re: How to best use vacation time when quitting?

Postby Anonymous User » Sun Jul 23, 2017 4:29 pm

elendinel wrote:
Anonymous User wrote:
takeseven wrote:Not sure how it works in the government, but at a law firm typically being cashed out means you get paid your salary for that vacation day, so you would get paid the same as if you were working. If you want more money, I would work the full two weeks after giving notice (collecting full salary the whole time) and then get paid the extra cash for the unused vacation days.


Op here. The thing is, if I work extra with the two week pay period, those additional hours are used up instead of my vacation time. So if I work extra on the weekends and during the pay period of my vacation, I can take my normal pay without using my vacation time. I feel like this is my best option. But there also is the opportunity cost of ending early up work at the firm, so that I can make more money. I am just worried that as soon as I give my 2 week notice, they will just tell me to leave then.


I don't get what you mean here; are you saying you're going to use your vacation time after you give notice, and then reduce the amount of vacation time you actually have to input/lose by working? This isn't going to really help you prevent their just asking you to leave immediately if that's their preference; it's also going to look really bad if you're technically on vacation during your two weeks, even if you're actually working during those weeks. People's last impression of you will basically be that you tried to game the system (they'll either figure out you tried to get asked to leave early to get more $$, or thay'll figure you purposefully took vacation during that time to try and avoid doing any work before you left).


OP here. I can see what you are trying to say, and yeah, I am trying to get the most money possible from this situation. I have a vacation planned at the end of the month that I had requested time off for two months prior, before getting offered this job. My plan is to give 2 weeks notice as soon as I am back from vacation. My vacation falls during two pay periods, so theoretically if I work more during those pay periods, I would get my normal pay during the vacation, and wouldn't eat into my vacation hours.

The other alternative would be to give two weeks notice before my vacation, and just take the vacation on my own once I've left the job.

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Re: How to best use vacation time when quitting?

Postby Anonymous User » Mon Jul 24, 2017 9:33 am

Not OP, but I work for the government as well (federal). Fed govt is pretty simple - sick time is use it or lose it. Unused vacation time is paid out at your salary in lump sum once you leave. I'm leaving my job in about a month and a half and looking forward to an extra week's pay, based on the number of vacation days I expect will be left over.



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