Prior to the pandemic, employees had a tough time spending their hard-earned time off. For 2018 (the latest year data is available), more than half (55%) of American workers reported not using all their days off - totaling 768 million unused vacation days for that year, up +9% vs. 2017, according to a survey commissioned by the US Travel Association .
In 2020, these trends were significantly accelerated due to COVID-19, and many employers have been struggling with high PTO balances as employees forego vacation or let their vacation days expire. Listen to our interview with Josh to learn how employees can unlock the value of unused PTO and make contributions towards meaningful benefits, such as retirement accounts, student loan repayment, travel, charitable causes, and more.
This article is for educational purposes only. The tax and legal references attached herein are designed to provide accurate and authoritative information with regard to the subject matter covered and are provided with the understanding that LoVasco Consulting Group is not engaged in rendering tax or legal services. If tax or legal advice is required, you should consult your accountant or attorney. LoVasco Consulting Group does not replace those advisors.
Securities and Investment Advisory Services offered through M Holdings Securities, Inc., a registered broker dealer and Investment Advisor, member FINRA / SIPC. LoVasco Consulting Group is independently owned and operated.
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LoVasco Consulting Group and their agents are presently licensed to sell traditional life insurance in Michigan as a resident producer and numerous other states as a nonresident producer. This site is not intended as an offer to sell securities, which may be done only after proper delivery of a prospectus and a client suitability review. Proper state registration is mandatory prior to conducting business in any state. Securities and Investment Advisory Services offered through M Holdings Securities, Inc., a registered broker dealer and Investment Advisor, member FINRA / SIPC. Check the background of this Firm and/or investment professional on FINRA's BrokerCheck. LoVasco Consulting Group is owned and operated independently from M Holdings Securities, Inc. LoVasco Consulting Group is a member of M Financial Group. Please click here for further details regarding this relationship.