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All accrued but unused vacation must be paid out at the termination of the employment relationship, at the final rate of pay, even if the employee was not yet eligible to take the vacation time.
PTO is considered wages, and you must pay out the entire amount of accrued but unused PTO when the employment relationship is terminated. If you combine sick leave and vacation into one PTO policy, PTO must be paid out upon termination.
Mandatory paid sick leave does not need to be paid out upon termination of employment. However, unlike other leave laws, previously accrued and unused paid sick days must be reinstated if an employee leaves employment and then is rehired within one year. Upon rehire, the employee must be allowed to use those previously accrued sick days and to begin accruing additional paid sick days. An employer is not required to reinstate accrued PTO to an employee that was paid out at the time they left employment.
Read about Employee Leaves Employment and Reinstatement in the HR Library.