My employer allows us to purchase up to a full week of vacation in addition to our regular paid vacation; the pre-tax purchase price is spread across 24 pay periods.
The caveat is that our regular vacation must be used before the purchased vacation and the purchased vacation must be used prior to December 1. If you actually wish to use it, you can't take time off in December. Any unused purchase vacation time is reimbursed before the last paycheck of the year so the corporation's books are clean for year-end.
Since we can only enroll once per year, I use it as an insurance policy/forced savings account. If I need the vacation time, I have it; otherwise, it's bonus dollars returned to me in time for the xmas season or to top up any charitable giving or retirement account.
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Date: 2007-11-01 01:31 pm (UTC)My employer allows us to purchase up to a full week of vacation in addition to our regular paid vacation; the pre-tax purchase price is spread across 24 pay periods.
The caveat is that our regular vacation must be used before the purchased vacation and the purchased vacation must be used prior to December 1. If you actually wish to use it, you can't take time off in December. Any unused purchase vacation time is reimbursed before the last paycheck of the year so the corporation's books are clean for year-end.
Since we can only enroll once per year, I use it as an insurance policy/forced savings account. If I need the vacation time, I have it; otherwise, it's bonus dollars returned to me in time for the xmas season or to top up any charitable giving or retirement account.