KPMG How long does it take for PTO payout to hit after you leave the firm?

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I just got mine today. Left mid July so second pay cycle after leaving.

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We get paid 100% of remaining PTO right?

My last day was mid pay cycle (let’s say the 8th of the month). I didn’t get it on the 15th but I got it on the next one at the end of the month (so 2 pay cycles later). Not long. HR told me it would be that way too (1-2 pay cycles to hit).

Thanks covid for my fat PTO payout!

Congrats on whatever you’re next gig is!

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I believe they reverse the accrual for the month you leave because a full month is granted at mid month paycheck. I had an 8 hour reduction and left mid month - which is exactly half a months accrual.

Following coz im about to leave the firm too!😬

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A good few months from my experience

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Do you know if the PTO payout is taxed the same way as regular pay or is it taxed more? For clarity, I’m in New York.

It’s taxed as a bonus.

Do they force Directors to take remaining PTO when you put in your two month notice?

No - they will waive the 60 day requirement unless there’s reason to make the departure acrimonious.

From a tax standpoint you are better using as much PTO as you can versus getting paid off.

A friend actually got pushed into a higher tax bracket because of her PTO
Payout.

Agreed with K3. It’s all W-2 box 1 income.

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