At a much higher rate than those at which you took them out too. ;) (At least 21% more starting now.)

Not sure this is true. Can anyone verify this?

Well if our hourly pay has gone up 21% then yes one hour of pay is worth 21% more.

Or it's still only an hour of work depending on your point of view.

I banked a few hours once before a pay raise. Next month I used banked hours. Pretty sure banked hours were paid at the rate I banked them at. I am under the impression that the hours have a money value to them that we can't see. Just speaking from experience. I've read contract and it's not clear.

Too lazy to look it up, but 100% sure you're wrong on that. They come out as they go in, as units of time. The monetary value associated depends on your hourly rate.

Merry Christmas

Banked hours come out at your current rate. There is no monetary value tagged to the hours you bank. Great investment if you are a new hire, or getting ready to upgrade.

Omar

.............it'll be zeroed out with your last check when you retire!

Denny

Banked hours are paid at your rate when you withdraw them. They are returned at the rate you earn them at.

Denny

Exactly right. I'm doing things backwards (currently -30, so I will be repaying at a higher rate then when I withdrew them, but life goes on).

You repay the hour of work with another hour of work. I never understood the rate distinction. It all works out the same.