re:accrued vacation pay when business sold
I live in Colorado and my employer has an accrued vacation time policy. We were recently purchased by another company who uses an PTO bank system for vacation and sick hours. Effective immediately, we were switched to the new system and told we would be paid out any hours we had accrued under the old system. We cannot roll over those hours. It's been about a month since we were purchased and any questions to HR about when we can expect our vacation pay outs have been stalled. My question is, is there a time limit to how long they can hold our vacation pay? As we are now unable to access the time accrued, I feel it's only fair they pay us for it as soon as possible.
I live in Colorado and my employer has an accrued vacation time policy. We were recently purchased by another company who uses an PTO bank system for vacation and sick hours. Effective immediately, we were switched to the new system and told we would be paid out any hours we had accrued under the old system. We cannot roll over those hours. It's been about a month since we were purchased and any questions to HR about when we can expect our vacation pay outs have been stalled. My question is, is there a time limit to how long they can hold our vacation pay? As we are now unable to access the time accrued, I feel it's only fair they pay us for it as soon as possible.
