PTO Bank — Eligibility

A Paid Time Off (PTO) bank is a different way to look at your time off. With a PTO bank, there’s no difference between sick, vacation, or personal days or floating holidays. All your time off is combined into one benefit, allowing you to choose how and when to spend it.

Eligibility

Regular full-time and part-time U.S. employees are eligible to participate in these time away benefits. The following groups of employees are outside of the scope of these policies:

  • Employees in pay bands S1-S3
  • Field based employees in the Diabetes Group
  • Field based employees in the Cardiac and Vascular Group who are exempt and commission-eligible
  • Employees Director level and above
  • Employees classified as intern or temporary

If you have questions regarding your time away, review the policy details on the Medtronic Policy Portal or contact AskHR.

Your Annual PTO

PTO is accrued and tracked by the anniversary date of your Continuous Service Date at Medtronic, as defined in the Global Length of Service Policy. The longer you work here, the more PTO days you earn. Your accrual changes when you reach a completed year of service (e.g. when you complete your fourth year of service and begin your fifth year of service, you begin to accrue 25 days of PTO per year). For example, if your hire date is July 1, 2016, you will begin accruing 25 days of PTO on July 1, 2020 (the first day of the month of your anniversary date).

Your Completed Years of Continuous Service (Continuous Service Dates)Your PTO in DaysYour PTO in HoursMonthly Accrual (11 months)*
4 years or less2016010.91
After 4 years2520014.55
After 14 years3024018.19
After 24 years3528021.82

*You receive 40 hours of PTO in January to start the year and accrue the rest over the remaining 11 months.

Managing Your PTO

You will start the calendar year with 40 hours of PTO and will accrue additional days monthly after that. New employees receive 40 hours at the time they’re hired.

You must use your annual PTO accruals by April 16 of the next calendar year, or you will lose any PTO that you haven’t used.

With your manager’s approval, you may also “borrow” up to 40 hours of PTO.

Important Note: Because of state laws, employees who work in California, Montana, Nebraska, the District of Columbia and certain employees in Maryland are allowed to carry over PTO days — as long as the number of days in the employee’s PTO bank does not exceed one and a half times their annual PTO allowance. For example, if your annual allowance of PTO days is 20 and you work in one of these states, you can have up to 30 days in your bank at any given time. If you reach this limit, you will stop earning time until you take time away and reduce the “balance” in your PTO bank.

Anniversary Bonus Week

To recognize and reward your service, you receive an Anniversary Bonus Week (ABW) each time you celebrate a fifth anniversary as a Medtronic employee. On January 1st of the year you reach your 5th, 10th, 15th, anniversary — and beyond — you’ll get an extra five days of time for that year. For example, in the year of your 10th anniversary, you’ll have a total of 30 days: 25 days of PTO, plus an extra 5 days of ABW time.

Your ABW days are separate from your PTO bank and must be used by December 31, unless you live in California or Montana. Don’t forget to get permission from your supervisor or manager prior to using ABW days.

Company Holidays

In addition to your PTO bank, you will receive 10 paid company holidays each year. Here is a list of company holidays for 2019. Medtronic may modify this list from year to year.

2019 Company Holidays*
New Year’s Day
Tuesday, January 1
Martin Luther King, Jr. Day
Monday, January 21
Memorial Day
Monday, May 27
Independence Day
Thursday, July 4
Labor DayMonday, September 2
Thanksgiving Day
Thursday, November 28
Day After Thanksgiving
Friday, November 29
Christmas Eve
Tuesday, December 24
Christmas Day
Wednesday, December 25
New Year’s EveTuesday, December 31

*Not included in PTO bank


Year-end Break

Every year, Medtronic has a year-end break in December. During this time, production at many of our facilities shuts down for the rest of the year. The 2019 year-end break is scheduled for Monday, Dec. 23 through Friday, Dec. 27.

During the year-end break, you will need to use Paid Time Off (PTO) or Anniversary Bonus Week (ABW) time to ensure you’re paid for Monday, Dec. 23, Thursday, Dec. 26, and Friday, Dec. 27. Employees are expected to participate in the year-end break unless specifically scheduled to work.

Summer Hours

Throughout the summer months, from Memorial Day to Labor Day, Medtronic offers each work location the option to adopt summer hours, so you can work longer days during the week and leave work earlier on Friday. Summer hours give you a chance to take advantage of the warmer weather and offer additional flexibility to your work week.

Please note: Summer Hours may not work for every department, business group or location. Therefore, managers will determine participation based on business needs.

Recording Time Away

You will need to record your PTO in Workday, Kronos, or your local time keeping system. No matter what time keeping system you use, you can always check your PTO balance in Workday.

Remember to notify your supervisor or manager of your plans to take time away to ensure your work is covered while you’re gone. Your manager can also approve “borrowed” PTO days, if necessary.

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