2 AAC 08.045 - Cash value of personal leave
(a) Personal leave
accrued by an employee during each pay period is converted to a cash value by
multiplying the hours accrued during that pay period in that month by the
employee's annualized hourly rate of pay for the pay period. The resulting
amount shall be added to the cash-value amounts calculated for previous pay
periods. The total of all the cash values is the cash value of the employee's
personal leave balance.
(b)
Repealed 9/11/2022.
(c) Repealed
9/11/2022.
(d) The cash value of
personal leave when personal leave is used by the employee as time off shall be
reduced by the employee's annualized hourly rate times the number of hours used
on a first-in-first-out basis. For "first-in-first-out basis", the value of the
leave accrued earliest is subtracted from the balance to calculate the
remaining value of the cash value after the use of accrued leave.
(e) The value of leave donated under
AS
39.20.245(a) for the
memorial scholarship revolving loan fund, or to a scholarship account in the
fund, under
AS
14.43.250-14.43.325 is calculated in the
manner set out at (d) of this section.
(f) The value of leave donated by an employee
to another employee for leave for medical reasons under
AS
39.20.245(b) is calculated
by multiplying the employee's present annualized hourly rate by the number of
hours of leave donated and dividing the resulting amount by the annualized
hourly rate of the donee.
(g) The
value of leave cashed in under
2 AAC 08.065 is calculated in accordance with (d) of
this section.
Notes
Authority:AS 39.20.200
AS 39.20.320
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.