Benefits March 29, 2010

Use of PTO Plans Increasing

March 29, 2010 (PLANSPONSOR.com) – A new survey from BLR finds more employers report using paid time off banks rather than traditional individual policies for vacation, sick leave, and personal leave.
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Fifty-four percent of employers report that their organization offers a comprehensive PTO plan, compared to 43% who said the same in BLR’s Survey of Employee Benefits in 2007. In the most recent survey, virtually all of the companies that said they offer a PTO plan allow both exempt and nonexempt employees to participate in the plan.      

Most respondents that use a PTO plan include vacation (94%), sick time (90%), and personal days (84%) in their PTO plan, and nearly half (45%) include days off to care for dependents.       

Nearly three out of four (72%) companies with a PTO plan allow days to be carried over to subsequent years, BLR said. About 30% of such companies allow the bank of accumulated days to grow to between 20-29 days, while 26% allow the bank to grow to a maximum of 30-59 days.      

The survey, which included nearly 2,000 responses, was conducted by BLR’s HR Daily Advisor in January 2010.

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