diff --git a/docs/reference/endpoint-inventory.json b/docs/reference/endpoint-inventory.json
index 526b5c137..136101112 100644
--- a/docs/reference/endpoint-inventory.json
+++ b/docs/reference/endpoint-inventory.json
@@ -1308,6 +1308,27 @@
       "variables": [
         "companyId"
       ]
+    },
+    "UNSTABLE_TimeOff.PolicyList": {
+      "endpoints": [
+        {
+          "method": "GET",
+          "path": "/v1/companies/:companyUuid/time_off_policies"
+        },
+        {
+          "method": "PUT",
+          "path": "/v1/time_off_policies/:timeOffPolicyUuid/deactivate"
+        },
+        {
+          "method": "GET",
+          "path": "/v1/companies/:companyId/employees"
+        }
+      ],
+      "variables": [
+        "companyId",
+        "companyUuid",
+        "timeOffPolicyUuid"
+      ]
     }
   },
   "flows": {
@@ -2088,8 +2109,25 @@
         "UNSTABLE_TimeOff.ViewPolicyDetails",
         "UNSTABLE_TimeOff.ViewPolicyEmployees"
       ],
-      "endpoints": [],
-      "variables": []
+      "endpoints": [
+        {
+          "method": "GET",
+          "path": "/v1/companies/:companyUuid/time_off_policies"
+        },
+        {
+          "method": "PUT",
+          "path": "/v1/time_off_policies/:timeOffPolicyUuid/deactivate"
+        },
+        {
+          "method": "GET",
+          "path": "/v1/companies/:companyId/employees"
+        }
+      ],
+      "variables": [
+        "companyId",
+        "companyUuid",
+        "timeOffPolicyUuid"
+      ]
     }
   }
 }
diff --git a/docs/reference/endpoint-reference.md b/docs/reference/endpoint-reference.md
index d6ac3a31a..26fed3b16 100644
--- a/docs/reference/endpoint-reference.md
+++ b/docs/reference/endpoint-reference.md
@@ -244,6 +244,14 @@ import inventory from '@gusto/embedded-react-sdk/endpoint-inventory.json'
 | **Payroll.TransitionCreation** | POST | `/v1/companies/:companyId/payrolls` |
 |  | GET | `/v1/companies/:companyId/pay_schedules` |
 
+## UNSTABLE_TimeOff components
+
+| Component | Method | Path |
+| --- | --- | --- |
+| **UNSTABLE_TimeOff.PolicyList** | GET | `/v1/companies/:companyUuid/time_off_policies` |
+|  | PUT | `/v1/time_off_policies/:timeOffPolicyUuid/deactivate` |
+|  | GET | `/v1/companies/:companyId/employees` |
+
 ## Flows
 
 Flows compose multiple blocks into a single workflow. The endpoint list for a flow is the union of all its block endpoints.
diff --git a/src/components/UNSTABLE_TimeOff/PolicyList/PolicyList.test.tsx b/src/components/UNSTABLE_TimeOff/PolicyList/PolicyList.test.tsx
new file mode 100644
index 000000000..4d919ba44
--- /dev/null
+++ b/src/components/UNSTABLE_TimeOff/PolicyList/PolicyList.test.tsx
@@ -0,0 +1,335 @@
+import { beforeEach, describe, expect, it, vi } from 'vitest'
+import { screen, waitFor, within } from '@testing-library/react'
+import userEvent from '@testing-library/user-event'
+import { http, HttpResponse } from 'msw'
+import { PolicyList } from './PolicyList'
+import { server } from '@/test/mocks/server'
+import { componentEvents } from '@/shared/constants'
+import { setupApiTestMocks } from '@/test/mocks/apiServer'
+import { renderWithProviders } from '@/test-utils/renderWithProviders'
+import { API_BASE_URL } from '@/test/constants'
+
+const mockPolicies = [
+  {
+    uuid: 'policy-1',
+    company_uuid: 'company-123',
+    name: 'Vacation',
+    policy_type: 'vacation',
+    accrual_method: 'per_pay_period',
+    accrual_rate: '40.0',
+    accrual_rate_unit: null,
+    paid_out_on_termination: true,
+    accrual_waiting_period_days: 0,
+    carryover_limit_hours: null,
+    max_accrual_hours_per_year: null,
+    max_hours: null,
+    complete: true,
+    is_active: true,
+    employees: [
+      { uuid: 'emp-1', full_name: 'Alice' },
+      { uuid: 'emp-2', full_name: 'Bob' },
+    ],
+  },
+  {
+    uuid: 'policy-2',
+    company_uuid: 'company-123',
+    name: 'Sick Leave',
+    policy_type: 'sick',
+    accrual_method: 'unlimited',
+    accrual_rate: null,
+    accrual_rate_unit: null,
+    paid_out_on_termination: false,
+    accrual_waiting_period_days: null,
+    carryover_limit_hours: null,
+    max_accrual_hours_per_year: null,
+    max_hours: null,
+    complete: false,
+    is_active: true,
+    employees: [],
+  },
+]
+
+const mockEmployees = [
+  {
+    uuid: 'emp-1',
+    first_name: 'Alice',
+    last_name: 'Smith',
+    email: 'alice@example.com',
+  },
+  {
+    uuid: 'emp-2',
+    first_name: 'Bob',
+    last_name: 'Jones',
+    email: 'bob@example.com',
+  },
+  {
+    uuid: 'emp-3',
+    first_name: 'Charlie',
+    last_name: 'Brown',
+    email: 'charlie@example.com',
+  },
+]
+
+describe('PolicyList', () => {
+  const onEvent = vi.fn()
+  const user = userEvent.setup()
+  const defaultProps = {
+    companyId: 'company-123',
+    onEvent,
+  }
+
+  beforeEach(() => {
+    setupApiTestMocks()
+    onEvent.mockClear()
+
+    server.use(
+      http.get(`${API_BASE_URL}/v1/companies/:companyUuid/time_off_policies`, () => {
+        return HttpResponse.json(mockPolicies)
+      }),
+      http.get(`${API_BASE_URL}/v1/companies/:companyId/employees`, () => {
+        return HttpResponse.json(mockEmployees)
+      }),
+    )
+  })
+
+  describe('rendering', () => {
+    it('renders the page title', async () => {
+      renderWithProviders(<PolicyList {...defaultProps} />)
+
+      await waitFor(() => {
+        expect(screen.getByText('Time Off Policies')).toBeInTheDocument()
+      })
+    })
+
+    it('renders policy names in the table', async () => {
+      renderWithProviders(<PolicyList {...defaultProps} />)
+
+      await waitFor(() => {
+        expect(screen.getByText('Vacation')).toBeInTheDocument()
+      })
+      expect(screen.getByText('Sick Leave')).toBeInTheDocument()
+    })
+
+    it('renders the create policy button when policies exist', async () => {
+      renderWithProviders(<PolicyList {...defaultProps} />)
+
+      await waitFor(() => {
+        expect(screen.getByRole('button', { name: 'Create policy' })).toBeInTheDocument()
+      })
+    })
+
+    it('renders enrolled display for policies with employees', async () => {
+      renderWithProviders(<PolicyList {...defaultProps} />)
+
+      await waitFor(() => {
+        expect(screen.getByText('2 employees')).toBeInTheDocument()
+      })
+    })
+
+    it('renders dash for policies with no enrolled employees', async () => {
+      renderWithProviders(<PolicyList {...defaultProps} />)
+
+      await waitFor(() => {
+        expect(screen.getByText('\u2013')).toBeInTheDocument()
+      })
+    })
+
+    it('renders "All employees" when all active employees are enrolled', async () => {
+      server.use(
+        http.get(`${API_BASE_URL}/v1/companies/:companyId/employees`, () => {
+          return HttpResponse.json(mockEmployees.slice(0, 2))
+        }),
+      )
+
+      renderWithProviders(<PolicyList {...defaultProps} />)
+
+      await waitFor(() => {
+        expect(screen.getByText('All employees')).toBeInTheDocument()
+      })
+    })
+
+    it('renders Finish setup button for incomplete policies', async () => {
+      renderWithProviders(<PolicyList {...defaultProps} />)
+
+      await waitFor(() => {
+        expect(screen.getByRole('button', { name: 'Finish setup' })).toBeInTheDocument()
+      })
+    })
+  })
+
+  describe('empty state', () => {
+    it('renders empty state when no policies exist', async () => {
+      server.use(
+        http.get(`${API_BASE_URL}/v1/companies/:companyUuid/time_off_policies`, () => {
+          return HttpResponse.json([])
+        }),
+      )
+
+      renderWithProviders(<PolicyList {...defaultProps} />)
+
+      await waitFor(() => {
+        expect(screen.getByText("You don't have any time off policies")).toBeInTheDocument()
+      })
+      expect(screen.getByText('Manage employee time off by creating a policy.')).toBeInTheDocument()
+    })
+
+    it('renders create policy button in empty state', async () => {
+      server.use(
+        http.get(`${API_BASE_URL}/v1/companies/:companyUuid/time_off_policies`, () => {
+          return HttpResponse.json([])
+        }),
+      )
+
+      renderWithProviders(<PolicyList {...defaultProps} />)
+
+      await waitFor(() => {
+        expect(screen.getByRole('button', { name: 'Create policy' })).toBeInTheDocument()
+      })
+    })
+  })
+
+  describe('navigation events', () => {
+    it('emits TIME_OFF_CREATE_POLICY event when create policy button is clicked', async () => {
+      renderWithProviders(<PolicyList {...defaultProps} />)
+
+      await waitFor(() => {
+        expect(screen.getByRole('button', { name: 'Create policy' })).toBeInTheDocument()
+      })
+
+      await user.click(screen.getByRole('button', { name: 'Create policy' }))
+
+      expect(onEvent).toHaveBeenCalledWith(componentEvents.TIME_OFF_CREATE_POLICY)
+    })
+
+    it('emits TIME_OFF_VIEW_POLICY event when edit policy is clicked from menu', async () => {
+      renderWithProviders(<PolicyList {...defaultProps} />)
+
+      await waitFor(() => {
+        expect(screen.getByText('Vacation')).toBeInTheDocument()
+      })
+
+      const menuButtons = screen.getAllByRole('button', { name: 'Open menu' })
+      await user.click(menuButtons[0]!)
+
+      await waitFor(() => {
+        expect(screen.getByText('Edit policy')).toBeInTheDocument()
+      })
+
+      await user.click(screen.getByText('Edit policy'))
+
+      expect(onEvent).toHaveBeenCalledWith(componentEvents.TIME_OFF_VIEW_POLICY, {
+        policyId: 'policy-1',
+        policyType: 'vacation',
+      })
+    })
+
+    it('emits TIME_OFF_VIEW_POLICY event when finish setup is clicked', async () => {
+      renderWithProviders(<PolicyList {...defaultProps} />)
+
+      await waitFor(() => {
+        expect(screen.getByRole('button', { name: 'Finish setup' })).toBeInTheDocument()
+      })
+
+      await user.click(screen.getByRole('button', { name: 'Finish setup' }))
+
+      expect(onEvent).toHaveBeenCalledWith(componentEvents.TIME_OFF_VIEW_POLICY, {
+        policyId: 'policy-2',
+        policyType: 'sick',
+      })
+    })
+  })
+
+  describe('delete policy', () => {
+    it('opens delete confirmation dialog when delete is clicked from menu', async () => {
+      renderWithProviders(<PolicyList {...defaultProps} />)
+
+      await waitFor(() => {
+        expect(screen.getByText('Vacation')).toBeInTheDocument()
+      })
+
+      const menuButtons = screen.getAllByRole('button', { name: 'Open menu' })
+      await user.click(menuButtons[0]!)
+
+      await waitFor(() => {
+        expect(screen.getByRole('menuitem', { name: 'Delete policy' })).toBeInTheDocument()
+      })
+
+      await user.click(screen.getByRole('menuitem', { name: 'Delete policy' }))
+
+      await waitFor(() => {
+        expect(
+          screen.getByText('Are you sure you want to delete the policy "Vacation"?'),
+        ).toBeInTheDocument()
+      })
+    })
+
+    it('calls deactivate API and shows success alert on confirm', async () => {
+      server.use(
+        http.put(`${API_BASE_URL}/v1/time_off_policies/:timeOffPolicyUuid/deactivate`, () => {
+          return HttpResponse.json({
+            uuid: 'policy-1',
+            company_uuid: 'company-123',
+            name: 'Vacation',
+            policy_type: 'vacation',
+            accrual_method: 'per_pay_period',
+            is_active: false,
+            employees: [],
+          })
+        }),
+      )
+
+      renderWithProviders(<PolicyList {...defaultProps} />)
+
+      await waitFor(() => {
+        expect(screen.getByText('Vacation')).toBeInTheDocument()
+      })
+
+      const menuButtons = screen.getAllByRole('button', { name: 'Open menu' })
+      await user.click(menuButtons[0]!)
+
+      await waitFor(() => {
+        expect(screen.getByRole('menuitem', { name: 'Delete policy' })).toBeInTheDocument()
+      })
+
+      await user.click(screen.getByRole('menuitem', { name: 'Delete policy' }))
+
+      await waitFor(() => {
+        expect(screen.getByRole('dialog')).toBeInTheDocument()
+      })
+
+      const dialog = screen.getByRole('dialog')
+      await user.click(within(dialog).getByRole('button', { name: 'Delete policy' }))
+
+      await waitFor(() => {
+        expect(screen.getByText('Policy "Vacation" deleted successfully')).toBeInTheDocument()
+      })
+    })
+
+    it('closes dialog when cancel is clicked', async () => {
+      renderWithProviders(<PolicyList {...defaultProps} />)
+
+      await waitFor(() => {
+        expect(screen.getByText('Vacation')).toBeInTheDocument()
+      })
+
+      const menuButtons = screen.getAllByRole('button', { name: 'Open menu' })
+      await user.click(menuButtons[0]!)
+
+      await waitFor(() => {
+        expect(screen.getByRole('menuitem', { name: 'Delete policy' })).toBeInTheDocument()
+      })
+
+      await user.click(screen.getByRole('menuitem', { name: 'Delete policy' }))
+
+      await waitFor(() => {
+        expect(screen.getByRole('dialog')).toBeInTheDocument()
+      })
+
+      await user.click(screen.getByRole('button', { name: 'Cancel' }))
+
+      await waitFor(() => {
+        expect(screen.queryByRole('dialog')).not.toBeInTheDocument()
+      })
+    })
+  })
+})
diff --git a/src/components/UNSTABLE_TimeOff/PolicyList/PolicyList.tsx b/src/components/UNSTABLE_TimeOff/PolicyList/PolicyList.tsx
index ce468323e..88883f394 100644
--- a/src/components/UNSTABLE_TimeOff/PolicyList/PolicyList.tsx
+++ b/src/components/UNSTABLE_TimeOff/PolicyList/PolicyList.tsx
@@ -1,43 +1,120 @@
+import { useState } from 'react'
+import { useTranslation } from 'react-i18next'
+import { useQueryClient } from '@tanstack/react-query'
+import {
+  useTimeOffPoliciesGetAllSuspense,
+  invalidateAllTimeOffPoliciesGetAll,
+} from '@gusto/embedded-api/react-query/timeOffPoliciesGetAll'
+import { useTimeOffPoliciesDeactivateMutation } from '@gusto/embedded-api/react-query/timeOffPoliciesDeactivate'
+import { useEmployeesListSuspense } from '@gusto/embedded-api/react-query/employeesList'
+import type { TimeOffPolicy } from '@gusto/embedded-api/models/components/timeoffpolicy'
+import { PolicyListPresentation } from './PolicyListPresentation'
+import type { PolicyListItem } from './PolicyListTypes'
 import { BaseComponent, type BaseComponentInterface } from '@/components/Base'
+import { useBase } from '@/components/Base/useBase'
 import { componentEvents } from '@/shared/constants'
+import { useI18n } from '@/i18n'
 
-export interface PolicyListProps extends BaseComponentInterface {
+export interface PolicyListProps extends BaseComponentInterface<'Company.TimeOff.TimeOffPolicies'> {
   companyId: string
 }
 
 export function PolicyList(props: PolicyListProps) {
   return (
     <BaseComponent {...props}>
-      <div>
-        <p>Policy List (companyId: {props.companyId})</p>
-        <button
-          onClick={() => {
-            props.onEvent(componentEvents.TIME_OFF_CREATE_POLICY)
-          }}
-        >
-          Create Policy
-        </button>
-        <button
-          onClick={() => {
-            props.onEvent(componentEvents.TIME_OFF_VIEW_POLICY, {
-              policyId: 'mock-policy-id',
-              policyType: 'vacation',
-            })
-          }}
-        >
-          View Vacation Policy
-        </button>
-        <button
-          onClick={() => {
-            props.onEvent(componentEvents.TIME_OFF_VIEW_POLICY, {
-              policyId: 'mock-policy-id',
-              policyType: 'holiday',
-            })
-          }}
-        >
-          View Holiday Policy
-        </button>
-      </div>
+      <Root {...props} />
     </BaseComponent>
   )
 }
+
+function Root({ companyId }: PolicyListProps) {
+  useI18n('Company.TimeOff.TimeOffPolicies')
+  const { t } = useTranslation('Company.TimeOff.TimeOffPolicies')
+  const { onEvent, baseSubmitHandler } = useBase()
+  const queryClient = useQueryClient()
+
+  const [deleteSuccessAlert, setDeleteSuccessAlert] = useState<string | null>(null)
+  const [isDeletingPolicyId, setIsDeletingPolicyId] = useState<string | null>(null)
+
+  const { data: policiesData } = useTimeOffPoliciesGetAllSuspense({
+    companyUuid: companyId,
+  })
+  const timeOffPolicies = policiesData.timeOffPolicies ?? []
+
+  const { data: employeesData } = useEmployeesListSuspense({
+    companyId,
+    terminated: false,
+  })
+  const totalActiveEmployees = employeesData.showEmployees?.length ?? 0
+
+  const { mutateAsync: deactivatePolicy } = useTimeOffPoliciesDeactivateMutation()
+
+  const policies: PolicyListItem[] = timeOffPolicies.map((policy: TimeOffPolicy) => {
+    const enrolledCount = policy.employees.length
+    let enrolledDisplay: string
+
+    if (enrolledCount > 0 && enrolledCount === totalActiveEmployees) {
+      enrolledDisplay = t('allEmployeesLabel')
+    } else if (enrolledCount > 0) {
+      enrolledDisplay = t('employeeCount', { count: enrolledCount })
+    } else {
+      enrolledDisplay = t('enrolledDash')
+    }
+
+    return {
+      uuid: policy.uuid,
+      name: policy.name,
+      policyType: policy.policyType,
+      isComplete: policy.complete ?? false,
+      enrolledDisplay,
+    }
+  })
+
+  const handleCreatePolicy = () => {
+    onEvent(componentEvents.TIME_OFF_CREATE_POLICY)
+  }
+
+  const handleEditPolicy = (policy: PolicyListItem) => {
+    onEvent(componentEvents.TIME_OFF_VIEW_POLICY, {
+      policyId: policy.uuid,
+      policyType: policy.policyType,
+    })
+  }
+
+  const handleFinishSetup = (policy: PolicyListItem) => {
+    onEvent(componentEvents.TIME_OFF_VIEW_POLICY, {
+      policyId: policy.uuid,
+      policyType: policy.policyType,
+    })
+  }
+
+  const handleDeletePolicy = async (policy: PolicyListItem) => {
+    setIsDeletingPolicyId(policy.uuid)
+    await baseSubmitHandler({}, async () => {
+      await deactivatePolicy({
+        request: {
+          timeOffPolicyUuid: policy.uuid,
+        },
+      })
+
+      await invalidateAllTimeOffPoliciesGetAll(queryClient)
+      setDeleteSuccessAlert(t('flash.policyDeleted', { name: policy.name }))
+    })
+    setIsDeletingPolicyId(null)
+  }
+
+  return (
+    <PolicyListPresentation
+      policies={policies}
+      onCreatePolicy={handleCreatePolicy}
+      onEditPolicy={handleEditPolicy}
+      onFinishSetup={handleFinishSetup}
+      onDeletePolicy={handleDeletePolicy}
+      deleteSuccessAlert={deleteSuccessAlert}
+      onDismissDeleteAlert={() => {
+        setDeleteSuccessAlert(null)
+      }}
+      isDeletingPolicyId={isDeletingPolicyId}
+    />
+  )
+}