Paid Time Off (PTO)
PTO includes vacation time, holidays, personal time and the waiting period for short-term disability benefits. PTO is accrued each pay period based on the actual number of hours that an employee works.
Unused PTO time rolls over from year to year but the maximum amount of PTO that you can have in your accrual bank is 1.5 times your annual accrual amount. For example, a non-exempt employee who has worked for Mayo Clinic for three years and who works a 40 hour week, can hold up to a maximum of 42 days or 336 hours in their PTO bank before they will need to use some of that time in order to accrue additional hours.
Short-Term, Long-Term Disability
Benefits-eligible employees are covered by a Short-Term Disability (STD) plan that replaces a portion of their income when they are medically unable to work due to a serious health condition. The first week of disability is a waiting period during which disability benefits are not paid. You can use PTO to satisfy the wait period while you are medically unable to work before STD benefits begin. Following the waiting period you may be eligible to receive a benefit based on your non-exempt or exempt status.
After 13 weeks of being medically unable to work, participants are eligible to apply to receive a Long-Term Disability benefit of 65 percent of their salary.
Both Short- and Long-Term Disability coverage is provided by Mayo Clinic with no premium cost to the employee.