When I first entered the workforce full time 40 some years ago most private employers had the same vacation policy. You got one or two weeks vacation each calendar year, pro-rated if you only worked part of a calendar year. You had to use it or lose it at the start of the next year. Vacation policies have become more flexible in recent years.
Wally World allowed you to carry over 80 hours of vacation and an unlimited amount of personal time over each year. Anticipating hard times coming, Wally World has trimmed this policy back considerably. After the end of the fiscal year, January 31, associates can only carry over 80 hours of personal and vacation time combined.
They still allow you to cash out excess time each year. Since I don’t get that much time off each year, I prefer the time off. Under the old plan, I could have kept all of my time. Under the new plan I would get cashed out for a couple of days of vacation. I just put in for an extra day off for my scheduled vacation at the end of the month. I will probably take off a couple of days off in December as well.