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Employers that don't currently pay workers for unused leave may want to reconsider their policies.


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Employers that don't currently pay workers for unused leave may want to reconsider their policies. While companies may have to amend their benefit plans to allow it, the administration hopes firms will do so. If an employer pays for such leave either in whole or in part, the worker could contribute the entire payment to the company's plan, unless he or she has already maxed out the annual contribution limit. The techniques are available for use with all qualified plans, which include 401(k), Keogh and profit-sharing plans but not individual retirement accounts or SEP-IRAs. They also can prorate or limit the amount of leave they are willing pay for. Unclear. Will payments for unused leave get an employer match? Companies can opt to pay workers for unused leave only if they bank the money in a 401(k) or other qualified plan -- in effect requiring employees to save or else forgo the money. While firms that choose to pay for unused leave must offer it as an option to all plan participants, they don't have to offer it every year. What is clear is that the plan must remain nondiscriminatory.
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