Vacation front-loaded and based on hours worked requirement

Summary:

The requirement is to have Vacation plan based on different bands for length of service and hours worked. This plan would be Incremental and person primary frequency. Additionally, employees need to be able to use their accrual front loaded, for the amount defined in their current band (for example 3 weeks in hours).

There are 2 potential ways to achieve this, I want to know which one is most recommended:

OPTION 1: Create 2 plans with type and concurrency enabled to use from both at the same time:

Plan 1: Annual front loaded that will look at the bands for accrual rate. FF for transfer/new hire proration. No negative balance, no carryover or pay out.