If my company is sold, does my former employer have to pay out accrued PTO?
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If my company is sold, does my former employer have to pay out accrued PTO?
The new company has unlimited PTO but I’m worried that if I am terminated or
choose to leave the new company won’t pay accrued PTO. Can I force my
former employer to pay?
Asked on June 24, 2018 under Employment Labor Law, Colorado
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 5 years ago | Contributor
You can't force the old owner to pay unless they (the old company) terminate(d) you or you resign(ed) from the old employer: under state law, only if your employment ends, would you have the right to payment of accrued but unused PTO, so if you are or were not terminated by your old employer or did not resign from them, they did not have to pay you out any accrued PTO. This means that if you continue(d) your employment with the new employer, your employment never ended and you are not entitled to the payment of accrued PTO.
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