Q: I am a remote worker in IL. I have been offered a buyout with offering have of my PTO being paid out. 3 wks vs 6 wks.
I have to make a decision and if I take the buyout; with my tenor, they will only payout 120 hours instead of the 238 hours that I have accrued. Looking at IL Sec. 300.520, I think I should be paid the full amount but the legal language is tripping me up. Which trumps what? The severance agreement or the state specific law for PTO payout?
Edit: I just came across the Older Workers Benefit Protection Act and wasn't aware. They have given us 7 days to make a decision. It looks like this goes against that. I am over 40.
A: Your employer is required to payout all earned (accrued and unused) vacation time. Depending on your companies PTO policy, your balance may include both a vacation and some sort of sick time. However, the amount they pay out can not be some sort of arbitrary amount. A company can not maintain policy or contract which requires you to forfeit your earned benefits. Because you are over 40, you are legally required to have 21 days to review and sign the severance agreement. You should reach out to an employment attorney to protect your rights and your earned compensation.
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