Craig Lundquist and Kristin Becker photo
Ideal Wealth Advisors logo

Craig Lundquist, MBA, ChFC®, CRPC®

VP of Wealth Management

craig.lundquist@lpl.com

651-773-2757

 

Kristin Becker

Senior Administrative Assistant

kristin.becker@lpl.com

651-773-2821

 

Ideal Wealth Advisors

Located at Ideal Credit Union

8499 Tamarack Road

Woodbury, MN 55125

 

CRPC conferred by College for Financial Planning

July/August 2025

Paid Leave Options

Red beach chair on white blank calendar background copy space. Annual leave travel period for relaxation concept. Period of paid time off (PTO) granted to employees by their employer.

Do you know which benefits your employees value? Employees often list health insurance and a retirement plan among their most desired benefits, but paid time off is also important in today's pressurized work environment.


A Changing Benefit
Companies offer paid time off to employees for sickness, vacation, maternal/paternal leave and personal reasons. While a newer trend is to offer a bank of days and let employees take time off for any of the qualifying reasons, others still structure time off by event, such as sickness or vacation.


Sick Time
Employers typically offer this perk as a set number of paid sick days, or they may offer insurance to pay for the time off. Insurance is more likely to be involved when employees need longer absences due to disability from an illness or injury.


Vacation Time
While most employers still offer an average of 10 to 20 days of vacation, typically based on seniority, a growing number of companies offer unlimited paid leave options. According to U.S. Bureau of Labor Statistics and Project: Time Off, workers tend to take 10 to 14 days annually, leaving several days unused. Knowing many employees don't take their full vacations, it's not surprising that the newest vacation trend — unlimited time off — hasn't resulted in a flood of workers taking off indefinitely. A refreshed and renewed workforce may mean more productive employees, so encourage them to take the time off they — and your company — need.


Parental Leave
The Family and Medical Leave Act ensures that eligible parents who work for employers with at least 50 employees can take up to 12 weeks off. While federal law doesn't require paid leave, some local jurisdictions mandate it. There are eligibility requirements and leave must be for qualified reasons.


Paid Time Off — Period!
Some companies combine all time off into one basket. For example, a company might offer 30 days' time off for any qualifying reason, including health, vacation and personal reasons. This contrasts to the old approach where the same company might have offered 10 vacation days, seven sick leave days and one or two personal days.


Talk to an employee benefits specialist to learn how you might structure time off and other benefits to attract and retain skilled workers.

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Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Ideal Credit Union and Ideal Wealth Advisors are not registered as a broker/dealer or investment advisor. Registered representatives of LPL offer products and services using Ideal Wealth Advisors, and may also be employees of Ideal Credit Union. These products and services are being offered through LPL or its affiliates, which are separate entities from and not affiliates of Ideal Credit Union or Ideal Wealth Advisors. Securities and insurance offered through LPL or its affiliates are:

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