05/18/2012
Q. We are considering replacing sick leave and vacation benefits with a paid time off (PTO) program. How are these plans treated upon the termination or resignation of an employee?
05/10/2012
It’s a benefit designed to retain long-term employees, but the practice of allowing retiring government workers to cash out unused leave may turn into an actuarial time bomb. The problem: Local governments are shedding employees at a record pace, often through early-retirement packages. And the leave liability is largely unfunded.