Advanced Benefits - PSFT (MOSC)

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Vacation Buy and Sell Issues

edited Mar 30, 2022 1:26PM in Advanced Benefits - PSFT (MOSC) 2 commentsAnswered

1. Does Peoplesoft allow Employees to see more vacation than their balance, we are seeing this during our testing.

2. Based of IRS guidelines, Vacation pay is subject to withholding as if they were a regular wage payment, When Vacation pay is in addition to regular wages for the vacation Period (For example an annual lump-sum payment for un used leave), trat it as a supplemental wage payment. If the vacation pay is for a time longer than your usual payroll period, spread it over the pay periods for which you pay it.

https://www.irs.gov/publications/p15#en_US_2020_publink1000202363

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