Holidays - buying or selling in the USA
If you want more vacation time, or know you won’t use all of your time by the end of the year and would like to receive the equivalent of your vacation hours, Tiqets offers this new benefit to better manage your time off per the 1st of January 2025.
Eligibility
All US employees are eligible for this policy after their 30 day probationary period.
You may “buy” additional hours of vacation, or “sell” vacation hours you will not use back to Tiqets. A maximum of 10 days (equivalent to 80 hours) may be bought for additional vacation time off, and a maximum of 5 days (equivalent to 40 hours) of vacation time may be sold back to Tiqets, per calendar year.
Part time employees will be able to buy and sell vacation at a pro-rated amount based on their full time equivalency.
If for any reason you become ineligible for this policy and;
You have additional purchased hours of vacation that are unused,
Or have not received the total cash amount of your sold hours when you became ineligible,
You will receive those hours paid out to you on your next regularly scheduled paycheck, or earlier depending on relevant federal or state law. Times when you would become ineligible include voluntary and involuntary terminations, and unpaid leaves of absence.
Buying Vacation
Contact hrm@tiqets.com to buy additional time off. This time off will be paid for through pre-tax salary deductions in the month after you made your request. All Tiqets benefits will continue during time taken off through bought vacation.
To be eligible to buy additional vacation, you must exhaust your entire earned vacation balance (or plan to exhaust it). The additional vacation must be used in the same year it was purchased and will not carry over into the next calendar year. The IRS does not allow bought vacation to carry over to the next year. You will receive a payout at the end of the year for any bought but unused vacation time off at your current salary rate.
This can be done once a year and will be administered via Hibob.
Selling Vacation
If you know you won’t use your whole balance of vacation in a year to take time off, you may sell up to 5 days (40 hours) of your accrued vacation time back to Tiqets (it is not possible to sell hours that you have not accrued yet).
You will receive the payment for sold vacation time in the month after you requested the pay-out as a one-time payment. This vacation time is paid back at your current salary rate, and is subject to all applicable federal, state, and local tax withholdings (for more information, the IRS considers this as taxable income).
Tiqets will follow and comply with all applicable federal, state, and local laws that govern the use of vacation time and may adjust this policy at any time to comply with those rules.
This can be done once a year and will be administered via Hibob.
If you have any questions about vacation buying and selling, and how it interacts with your vacation balance, please reach out to us via hrm@tiqets.com.