Termination date

[Guest JPIngold]

If a participant terminates his employment on December 26th, but has 10 unused vacation days that he gets paid for, is his termination date 12/26/14 or 1/5/2015?

[Guest JPIngold]

I just found a good explanation in Sal's book. It sounds like it depends on the circumstances. If the employee terminates on 12/26/14 and wasn't scheduled for a vacation, then his termination date is 12/26/14, even if he receives payment for unused vacation pay through 1/5/2015. If he was scheduled for vacation, takes it, and is paid for it, then his termination date is 1/5/2015.

[GMK]

^depends on when the company takes him off the payroll, e.g., was he eligible for holiday pay for January 1?

Also, some companies require employees to be at work (and not on vacation or sick leave) on their last day ... and like that.